Income from remuneration for personal services, royalties, interest, dividends, bonuses and the lease of propertyandotherincomeshall be taxed at a flat rate of 20 percent.
Even five years of trillion dollar deficits are unsustainable: At normal interest rates of 5 percent, almost all personalincome tax revenues would go to pay interest, which would exceed expenditures on social security!
In the short term, the supply of housing is more or less fixed, so house prices are mainly driven by demand factors: namely, personal disposable income, real interest rates and the return offered by alternative investments such as equities.
This November, leadership from the State Legislature will attempt to end the creeping encroachment of the personalincome tax applied to gaming winnings and interest from dividends.