Respected local economists have recently said that a temporary General Excise Tax increase will help address the state budget problems without compromising the health and well-being of our community. FACTS: - Respected local economists recently said that a small increase in the GET can generate significant revenue and boost Hawaii's economy, and that cuts in social services impose long-term effects on the economy. - 38% of the GET is paid by tourists – thereby reducing the impact on - A proposed earned income tax credit for low-income taxpayers will offset the GET increase. - Temporary tax increases have a small impact on consumer spending of goods and services. ( - GET revenues benefit mostly the low- and middle-classes, as beneficiaries of state spending are welfare, education and - A 1% increase (from 4% to 5%) is affordable because: Sign this petition to let your elected officials know that you want them to implement a small temporary General Excise Tax increase to generate state revenue and address Hawaii’s economic problems.
- If you spent $10,000 annually on taxable goods and services, you pay $100 more in taxes due to the additional 1% tax.
- Spread that $100 over the 365-day year and you end up paying just 27¢ a day in additional taxes.