KC Star: "Tax cut is latest irresponsible idea from Missouri House"
An economy on the ropes hasn’t stopped Missouri’s elected representatives from making the usual spectacle of themselves in Jefferson City.
The latest antic was the House’s passage last week of a budget bill that shaves the state income tax from 6 percent to 5.5 percent, using federal money intended to shore up essential functions of state government.
As House leaders admit, the move is almost certainly disallowed by federal rules. And it’s unclear how the cut would be sustained after two years, when money from Washington will no longer be available.
But why let such minor details stand in the way of making a statement — even if no one is sure what you’re trying to say?...
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No
The "FairTax" is a boondoggle. If you like raising taxes for the poorest and cutting them for the wealthiest, and creating another level of bureacracy to collect taxes replacing the old income tax system, only then does it make any sense.
The Opposite Should Happen
Missouri has a very low income tax rate. In the interest of tax fairness, I think that the income tax should be raised and the sales tax reduced.
I agree with Goat Daddy
Southeast Missouri is a very low income part of the state and I think Goat Daddy is right. I do not think the "fair tax" would work on a state level in Missouri. It might work on a national level because I believe there are some things built into it to help low income areas. But in Missouri on a state level I think it would be a mistake.
It is nice to see a republican trying to reach out to us Democrats but I think there are too many low income rural areas in this state for the plan on work on a state level in Missouri. In Southeast Missouri there are too many people who are unemployed or who have a very low incomes. A "fair tax" even one with built in rebates would require the low income people to have more cash with them when shopping and would put a strain on the weekly budget. This would be true even if there was a rebate of some kind.
Here it is all about cash on hand.
Tax Cut
I agree. Cutting the income tax by one-half of a percent seems to be the equivalent to putting a band-aid on a seeping wound, adding only to the pain and solving nothing.
What do you think of abolishing the income tax entirely and upping usage taxes instead? I found Representative Emery's explanation to be very convincing:
www.mofairtax.com