KOMOR FOR ARIZONA STATE GOVERNOR

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Paying for "Revitazona" Projects

Governments are famous for corporate giveaways and wasteful spending practices while reducing needed services for citizens. While we expect to greatly refine our strategies, we present the following program funding estimates primarily to demonstrate clear inherent feasibility.  (Savings estimates are based on a 4 year window.)  Also, by lifting the cap on taxable income above $250,000 so that the wealthy pay the same percentage of their income into the state tax system, we will leave a marked surplus in the State Budget at the end of our first four years in the Arizona Governors Office.


(1)Climate Change & Atmospheric Carbon: Ending tax breaks and subsidies for fossil fuel companies ($15 billion). Taxing corporate offshore income ($15 billion). Wall Street speculation tax ($27 billion).  Closing tax loopholes that allow the wealthy to avoid taxes on money they inherit and expensive artwork they collect ($7 billion). A duty on income and investments by large business with high levels of outsourcing and/or low reinvestment within Arizona ($9 billion). Reductions in fossil fuel and mining subsidies and royalties on fossil fuel extraction ($15 billion). Installing a progressive carbon tax on CO2 and fines for businesses which have historically contributed more than the median for their sector to atmospheric carbon accumulations ($25 billion). Additionally, revenue will be generated by the sale of downstream AACC-related products including energy, agriculture and jobs will also factor significantly. We anticipate an eventual net gain from AACC on many levels (jobs, tourism, investment, reduced energy costs, etc.)


(2)Supporting Communities: Progressive estate tax on inheritances over $1.5 million ($40 million). Closing estate tax loopholes ($4 billion). Closing tax loopholes on artwork ($5 billion).


(3)Vibrant Business: Implementation of a transaction duty for the financial sector ($12 billion).


(4) Healthcare: Creating a 6.2 percent income-based health care premium paid by employers, a 2.2 percent income-based premium paid by households, taxing capital gains and dividends the same as income from work and savings from health tax expenditures ($23 billion).  If necessary, establishing a payroll tax that would total $0.79 a week for the typical Arizona worker. 


(5) Migration and Human Rights: Ending the carried interest loophole that allows billionaire hedge fund managers to pay a lower tax rate than nurses and truck drivers ($12 billion). Establishing a fair-use tax for non-residents utilizing Arizona State services ($13 billion).


(6) Traffic Safety: Creation of a special “20/20” excise on automobiles with fuel efficiency below 20mpg or purchase price above $20,000 ($14 billion). If needed, a percentage of state lottery revenue. 


(7) Governance Research: Paid for by making corporations pay taxes on all of the “profits” they have shifted to the Cayman Islands and other offshore tax havens ($18 billion).


(8) Stronger Government: Removing payroll tax cap for earnings above $250,000 ($15 billion). Closing carried interest loophole ($3.4 billion).


(9) Non-Discrimination:  Paid for by imposing a tax on Wall Street speculators ($12 billion).