The Utah Taxpayer - May 2023
Utah Ranked #1 For Best Economic Outlook For the 16th Year In A Row
On April 21st, the American Legislative Exchange Council (ALEC) released the 16th annual edition of “Rich States, Poor States”, which ranks states according to the best economic outlook Although Utah enjoyed the #1 spot again this year - this trend is likely over unless elected officials move boldly in short order
Read about it here
What Arizona Gets Right
In anticipation of Arizona’s Governor Ducey speaking at our Taxes Now Conference on May 8th, and in light of the state’s 2 5% individual income tax rate, it is worth reviewing what Arizona gets right in terms of tax policy As we look to surrounding states, it is important to learn from both their mistakes and their victories: Arizona’s 2 5% flat income tax rate is surely a victory we ought to learn from
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Another Budget Surplus? Revenues Stay Strong, However April Final Tax Payments Will Be the Key
As the 2023 fiscal year comes to a close in about 60 days on June 30, 2023 for the State of Utah, projections for another possible budget surplus start to become a bit more clear So, where do things stand with just a few months left in the fiscal year? The short answer is - fairly strong, but further data is needed
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New Report On Social Security Confirms Insolvency In 11 Years - “Not Touching Social Security” Is Sham Of A Political Position
The Trustees that manage the United States Social Security Program recently released theirannual reportthat details the health of the system for the next 75 years No matter where one stands on the political spectrum, the report has an indisputable and blunt conclusion: the fund will be insolvent in just 11 years This looming insolvency can no longer be ignored, and decisions about the future of Social Security can no longer be deferred
Read more about the problem here
2023 Beehive Family Highlights
Our 2023 Beehive Report shows the tax burden of a typical Utah family Here we review a few of the highlights
Read our analysis here