…should lounge by the pool with frosty fruity drinks while people with lower incomes pay a higher percentage of their income in taxes.
Filed on February 6th:
Migrates Missouri away from income taxes to sales/consumption taxes
Sponsor: Koenig, Andrew (099)
Co-Sponsor: Schieber, Ronald (014) … et al.
Proposed Effective Date: 8/28/2013
LR Number: 783H.01I
Last Action: 2/07/2013 – Read Second Time (H)
FIRST REGULAR SESSION
HOUSE JOINT RESOLUTION NO. 25
97TH GENERAL ASSEMBLY
INTRODUCED BY REPRESENTATIVES KOENIG (Sponsor), SCHIEBER, WILSON, BRATTIN, BURLISON, WHITE, DAVIS, MESSENGER, LICHTENEGGER, HIGDON, SCHARNHORST AND MCCAHERTY (Co-sponsors).
0783H.01I D. ADAM CRUMBLISS, Chief Clerk
Submitting to the qualified voters of Missouri an amendment repealing sections 1 and 6(a) of article X of the Constitution of Missouri, and adopting eleven new sections in lieu thereof relating to taxation.
Be it resolved by the House of Representatives, the Senate concurring therein:
….(2) For tax years beginning on or after January 1, 2017, any law enacted by the general assembly that imposes a tax for state purposes that is on or measured by the income or earnings of an individual shall be repealed….
Section 1(f). The following shall not be subject to any tax imposed pursuant to section 1(e) of this article:
(15) Sales of bullion or coins, artistic works, precious stones or other tangible personal property held exclusively for investment purposes….
[emphasis in original]
Ah, defunding government. Another stellar contribution from the right wingnut laboratory of bad ideas.
“The law, in its majestic equality, forbids the rich and the poor alike to sleep under bridges, to beg in the streets, and to steal bread.” – Le lys rouge, Anatole France
“…Sales of bullion or coins, artistic works, precious stones or other tangible personal property held exclusively for investment purposes…”
Yes, when you sell your velvet painting of poker playing dogs at the neighborhood garage sale you, like the millionaire who sells their original Matisse at a high end art auction, won’t have to pay any state taxes on the transaction.
Uh, it’s called regressive taxation (from the people who know a thing or two about taxes):
….A regressive tax may at first appear to be a fair way of taxing citizens because everyone, regardless of income level, pays the same dollar amount. By taking a closer look, it is easy to see that such a tax causes lower-income people to pay a larger share of their income than wealthier people pay. Though true regressive taxes are not used as income taxes, they are used as taxes on tobacco, alcohol, gasoline, jewelry, perfume, and travel.
User fees often are considered regressive because they take a larger percentage of income from low-income groups than from high-income groups. These include fees for licenses, parking, admission to museums and parks, and tolls for roads, bridges, and tunnels….
You probably wouldn’t consider a regressive tax structure to be particularly fair unless you were in the one percent. Or, if your political campaign(s) were funded by the one percent.