Advocates promised the new tax would bring in over $1 billion a year in new revenue. And they quickly saw their predictions surpassed: the state Department of Revenue estimates it will generate over $1.5 billion this fiscal year.
So when you asked “What’s going to happen if tax rate increases keep decreasing revenue?” you were referring to something that doesn’t involve revenue? And that doesn’t have to do with income tax? In a conversation about income tax? That’s even worse.
So when you asked “What’s going to happen if tax rate increases keep decreasing revenue?” you were referring to something that doesn’t involve revenue? And that doesn’t have to do with income tax? In a conversation about income tax? That’s even worse.