looks like Missouri will be the next state to siphon off movers from up north and California. They are voting to eliminate the state income tax and a significant reduction in other state taxes. Shortfall created will be about 9 Billion, but population and business increase projections that occur will more than cover that gap in revenues. Most expect the vote to reduce all taxes will pass. Now, along with Texas, Florida, and Tennessee.....Missouri will be the next Boom State!!
Next Boom State..........
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Are you trying to tell me lowering taxes increases growth? Get outta here
Who knows, maybe this will be the time the Laffer Curve works.
Had Laffer just prescribed the specific optimal tax rate to hit the apex, it would have been much better. I think that much of our policy and tax debates have revolved around that. The curve itself if a solid theory. I'll support being taxed up to a certain amount, but at some point, I'm looking for loopholes, tax shelters, etc. and if I'm rich, I'm not bound by the US to find those things.
I figured this to be a thread about another MSU Marketing attempt at a slogan they hoped would stick that we could paint in the middle of the field, "BOOM State!"
Yeah I agree - there's always going to be the extraordinarily greedy and selfish. We can work around and with them as possible and not cater to them.
It's going to work this time! They promise.
Honestly some of the biggest problems in figuring out taxation are:
- What do we collectively expect from our government?
- How much does that cost?
- Given 2) does our consensus on 1) still hold?
- Assume that we somehow reach consensus on 1) and agree that 2) is reasonable, how do I deal with the fact that we have politicians who, under the guise of "public service", are really trying to steer as much of our tax collections as they can into 1st their pockets and 2nd into the pockets of their closet allies and 3rd to their constituents.
Missouri is a total shtihole.
It’s one of the few places where violent crime is through the roof both in its cities and in the rural parts of the state. Property crime is well above US average too (but not as bad as violent crime).
Life expectancy in Missouri is about the same as Guatemala, Syria and North Korea (+/- 75 years).
Don’t get me wrong - MO is going to outperform MS, AL and LA. But most places are.
It’s one of the few places where violent crime is through the roof both in its cities and in the rural parts of the state. Property crime is well above US average too (but not as bad as violent crime).
Life expectancy in Missouri is about the same as Guatemala, Syria and North Korea (+/- 75 years).
Don’t get me wrong - MO is going to outperform MS, AL and LA. But most places are.
You made me look. Wow.
- Missouri: approximately 462 violent crimes per 100,000 residents.
- Mississippi: approximately 211 violent crimes per 100,000 residents.
This is a extraordinarily dumb take. Unless by extraordinarily greedy people honest meant humans in general.
Had no clue Missouri was that bad. I knew St. Louis was, but I don’t think per capita it has a significantly worse crime rate than Jackson.
double seems bad given that we have a Jackson...
Good friend of mine is originally from Missouri and still owns a home there as well as a home in Alabama. He declares residency in Alabama because of property taxes. Missouri taxes everything you own annually for property taxes. Lawnmowers, ATV’s, tractors, or any equipment. He says that it ridiculous how high property taxes are.
The only thing booming in Missouri is a malfunctioning meth lab.
$9 billion shortfall? I would pump the brakes on believing any economic projections that the government puts out on the state level. They're always optimistic and I know of precisely no one who sees Missouri as a retirement destination.
Whenever a state announces no income taxes, you know they're going to make it up on the back end somewhere. His property taxes are going to go higher from here and they'll probably introduce an excise tax that will help cover the lack of income tax.
"Texas, Florida, and Tennessee.....Missouri"
Which one of these is not like the others ?
Which one of these is not like the others ?
"looks like Missouri will be the next state to siphon off movers from up north and California."
.....and we're sure this is a good thing ?
.....and we're sure this is a good thing ?
That has nothing on BOOM Maroon (Trademark pending)
Those 100,000 residents should move.
These things are like squeezing a balloon and celebrating either the smaller or bigger side.
Letting citizens vote on an income tax is amazing. They should let kids vote on school hours next.
Question:
Who do you propose vote on income tax then? Should not the people from which the tax comes? There’s other more “fair” options for tax revenue besides income. There’s a sales tax and gas tax that not only is more fair to all residents, but will also include passers-thru and tourists.
I believe southern MO has a lot of potential. It’s the forgotten part of the state. Also,I wonder if crime rates are higher due to honest reporting instead of the typical “fudge the stats so we don’t look like the hell-hole we are”.
You have to get the money somewhere. Texas no income tax but property taxes are 225% of what it is here. Alabama taxes are double our property taxes. Pennsylvania is 3 times ours so pick your poison. I would prefer a 9% sales tax, no income tax. All the people getting paid cash would have to contribute that way.
Not really, actually might be slightly less on average. Alabama has a state tax but in general, is a pretty low cost state.
I can get on board with this and at the same time we need not cater to the extraordinary lazy and non-productive.
I inherited a house in Gulf Shores. The accessed value of the GS house was about the same as the assessed value on my house in Tupelo.
GS property tax $1200
Tupelo property tax $3600
StL area which would include E StL, which is in ILL will get the numbers way up and the KC area ain’t that far behind.
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