Opponents of lowering the income tax cap repeatedly appeal to one of their favorite arguments against taxpayers keeping more of their hard earned money: education funding. Some have made apocalyptic claims, painting a state with a 7 percent income tax cap (as opposed to the current 10 percent) as being perpetually underfunded. This claim, of course, demands that we agree with their faulty premise, which is “education is indeed underfunded” (spoiler alert: it’s not).
