made the same point as this cartoon, playing on Nixon’s phrase of “right-sizing” state government and calling it instead “blight sizing”. The writers summarized some suggestions from the Missouri Budget Project for increasing state revenue:
• Collect sales taxes from all online vendors, not just those with employees in the state. This could return $180 million a year to state and local governments.
• Eliminate the so-called “Geoffrey Loophole” – named after Geoffrey the Giraffe, the mascot of Toys”R”Us, one firm that exploits the loophole. It allows companies to reduce the profits shown on Missouri tax returns by transferring income from subidiaries to out-of-state corporate umbrella companies. Taxing all the profits they earn in Missouri could return $90 million a year.
• Eliminate the “Timely Finally” discount given to corporations that pay their taxes on time. Individuals who pay on time don’t get a discount. Why should corporations? Estimated new income: $39 million a year.
The editorial blasted Sinquefield’s “Fair Tax” and repeated what every Missourian ought to know: that everybody earning more than $9,000 a year pays the same state income tax rate. “If you make $9,000 you pay the same 6 percent as the guy who makes $9 million. Or $99 million.”
Furthermore, corporations don’t pay their share:
Per-capita corporate income taxes were higher in all eight bordering states, ranging from $233 in Kentucky to $109 in Iowa. Rich people and corporations are getting a deeply discounted ride on the backs of the poor and working class.
Nixon and his appointees in the various state agencies have been doing a fine job of looking for places to save money and keep the cutting of services to a minimum. But they’ve pretty much done all they can in that respect. Missouri ranks low as far as the services it affords us, typically in the thirties and forties. On public health spending, we’re number 50.
Following this “right sizing” is likely to make us number 49 or 50 in more categories. That’s not the way to attract businesses and jobs to Missouri.
made the same point as this cartoon, playing on Nixon’s phrase of “right-sizing” state government and calling it instead “blight sizing”. The writers summarized some suggestions from the Missouri Budget Project for increasing state revenue:
The editorial blasted Sinquefield’s “Fair Tax” and repeated what every Missourian ought to know: that everybody earning more than $9,000 a year pays the same state income tax rate. “If you make $9,000 you pay the same 6 percent as the guy who makes $9 million. Or $99 million.”
Furthermore, corporations don’t pay their share:
Nixon and his appointees in the various state agencies have been doing a fine job of looking for places to save money and keep the cutting of services to a minimum. But they’ve pretty much done all they can in that respect. Missouri ranks low as far as the services it affords us, typically in the thirties and forties. On public health spending, we’re number 50.
Following this “right sizing” is likely to make us number 49 or 50 in more categories. That’s not the way to attract businesses and jobs to Missouri.