List at least 1 pro and con for each item. The more the better.

1.Tax Method: State Sales Tax

Scenario: The Governor is proposing a $x increase in sales tax, along with reductions in exemptions.

2.Tax Method: Corporate Income and Inventory Taxes

Scenario: State legislators are pondering a recommendation to reinstate the inventory tax in exchange for lowering corporate income taxes.

3.Tax Method: Tax on Yachts, High-end (i.e., expensive) Cars, Second Homes, etc.

Scenario: Congress is weighing a proposal to increase tax rates for the above listed items.

4.Tax Method: Tax on Tobacco, Alcohol & Gambling

Scenario: The Indiana General Assembly is weighing a proposal to increase tax rates for these items listed (at left).

5.Tax Method: Federal Personal Income Tax

Scenario: Congress is considering reducing income taxes, to be offset by reducing deductions, credits and exemptions.

6.Tax Method: Gasoline Tax

Scenario: A new version of the federal budget adds a $x tax per gallon of gasoline.

7.Tax Method: Property Tax

Scenario: A taxpayer organization is discussing shifting a portion of property taxes to income tax.