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Debate to Eliminate Missouri Income Tax Heats Up May 25, 2010

Posted by kbianews in KXCV.
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From KXCV in Maryville, here’s this story: The Chair of the legislature’s joint committee on tax policy says changing how revuenue is created for the state is all but guaranteed to come up soon.

Savannah Sen. Brad Lager says the debate is heating up over a citizen’s group’s push for a ballot measure to eliminate the Missouri income tax, and replace it with all sales and services being taxed.

“Do you want to tax wealth creation, which is what income tax does ? Or do you want to tax consumption, which is what this does? And that is the philosophical, fundamental debate. If you’re a person who believes everyone should pay a portion, or pay, quote ‘Their fair share,’ then you’re probably towards taxing consumption. If you’re a person who believes we should tax people more, because they make more, then you’re going to want to tax wealth creation.”

Lager predicts the issue will be put on a ballot for the voters to decide within the next four years.

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