Dec. 12, 2012 —
Limiting itemized deductions on state income taxes to $20,000 would let most of us still deduct home mortgage interest and charitable deductions.
Adding a state earned income tax credit like the feds have would be a big help for the working poor.
Corporate income taxes would be reduced slightly, mostly to benefit large companies that operate in several states but that could save or create jobs.
Adopting all of the proposed reforms won’t solve all of our money problems – such as the worrisome shortfall in public pension funds – but it would be a solid start.
What we need now is the political courage to make it happen.