Arkansas Income Tax

No tax is ever fair. No matter how you implement a tax, it will be unfair to somebody.  Almost nobody wants to pay taxes.  The easy solution would seem to be eliminating taxes. It's not that easy. We do not live in anarchy. Government must be paid for and government isn't cheap. That is why it is vital to limit the size and power of government to less than we are willing to endure and pay for.
Not every state has an income tax, including a couple of our bordering states.  This has many people (and most Libertarians) wondering why don't we get rid of our income tax completely. I am not one of those Libertarians.  The people of the state are not willing to cut services and spending to a level that would allow this.  There is, however, much we could do to improve things.  Currently the tax rate for almost all Arkansans is 7 percent of your income.  I would lower it to 5 percent. Currently there are pages of complex deductions, exceptions, credits, etc...  I would simplify that as well. If you make over $12,000 per year you must file. You would get a $10,000 income deduction for yourself, and a $5,000 deduction for any dependents. Persons aged 65 or older, US military, and persons who are blind, deaf, paralyzed, or missing a limb could claim an additional $5,000 deduction. Persons that adopt a child could claim an additional $5,000 deduction for the year in which the adoption was finalized. You could take another deduction up to 10% of income for charitable contributions, and an additional 10% deduction for health care expenses. That's it. The entire return, including instructions, would fit on one page. No need for a thick booklet. A tax cut for everyone, with less printing and administration costs for the government.
To ensure the money is well spent, all income taxes collected would be used for education spending and nothing else. This would be the sole source of state funding for K-12 schools. This way the taxpayers would know where their hard earned dollars are going. If the people decide they want more money for education, they would know that income taxes would have to be raised. If the people want lower income taxes, they would know that education funding would have to be cut. It would be simple and transparent.