Governor Tate Reeves posted the following message on Facebook.
Think back to President Trump’s time in office. Every objection to eliminating Mississippi’s income tax was thrown at Republicans trying to pass the Trump Tax Cuts. Liberals fundamentally want to spend. Conservatives want to cut taxes.
This year, the legislature spent $5.8 billion on government operations. Tomorrow, the legislature will agree they have $7 billion for next year. $1.2 billion more than this year.
The two chambers have not yet agreed on a plan. I believe there is a way to get this done.
The legislature should pass an income tax bill that immediately cuts the top marginal rate from 5% to 3.5%. That would be $600 million. Less than half of our surplus. That lets them spend $600 million of your money on whatever they like!
I also call on the legislature to reduce the marginal rate by an additional (very small and safe) 0.5% for the next seven years to eliminate the income tax!
Anything less in year one is too little and any phase-in longer than that is too late. Let’s get this done!
54 comments:
Kingfish, you can call on the legislature to do whatever you wish, but give them until after noon to shake off the (ultimately) taxpayer funded hangovers. The luxury local bars and fine dining restaurants make their profits during these elongated, ineffective alcohol infused sessions.
This is a political shell game. This could force counties to raise ad valorem taxes to make up for the lost revenue.
This will also raise taxes on those residents who don't currently pay income tax, i.e. retirees, as their property taxes will increase.
But that's ok because the crooked and/or cynical pols will be patting themselves on the back at their many pressers.
yeah...the federal deficit growth under trump was the third highest of any president...5.2 percent of GDP.
cut taxes but not spending? let's by all means shrink governmental expenses! then pay off the debt.. then talk about cutting taxes..
I sure do wish I wasn't sooooooo beat down by our political class. This could mean something to me but sadly it doesn't. This country and the world needs a re-boot. One of Godly Hellfire from above. :) With that said, I am in favor of removing this tax.
Cut the damn sales tax on groceries. It is the most regressive tax in the poorest state in the union.
How much of that $7b is one-time or short-time federal money?
Good!
All taxation is theft.
Next he can abolish all government has been created since 1870.
It's really hard to believe our Governor ever took an accounting course.
good question 7:15p. 7B is the new annual expected revenues? Or how much of that is federal money?
What a clown show.
Other taxes ultimately will be raised and will disproportionately impact those whose incomes trigger little or no taxes. Typical Republican BS.
This could force counties to raise ad valorem taxes to make up for the lost revenue.
This will also raise taxes on those residents who don't currently pay income tax, i.e. retirees, as their property taxes will increase.
Contagion theory. Fallacy.
12:05 That wasn't from KF, that was a press release from Tater.
KF, where do you purchase your crack? How much do you spend a week? The government will never abolish income tax. Education is free!
@1:29 PM
Education might be free but the hustle is sold separately.
Ladd has gone off the deep end today.
The property values are rocking in Gluckstadt, it’s a perfect time to get out of Missippi. These tax cuts are indeed a shell game . The finery enjoyed in Madison County cost and you John Q. Homeowner are going to be on the hook for it!
@12:13 PM
There is no tax on food stamps!
In the words of the late US Senator Russell Long, "Don't tax you, don't tax me, tax that fellow behind the tree."
With Reeves wanting to eliminate about 1/3 of Mississippi's tax revenues, he knows that the money has to come from somewhere to make up the difference, but doesn't give an answer for that. It's unbelievable that he referenced Trump who ran up huge deficits.
@1:29 PM
Kingfish always struck me as a meth head. He’d be too afraid to travel into those deadly hoods and purchase crack. Punk ass.
Old potato brain doesn’t seem to grasp basic economic principles. Our state will suffer from further deterioration of our infrastructure and that will cost us much more in the long run. Want to save the taxpayers some money, cut the salary of every state legislator, they all deserve to be demoted.
The pols will just raise the taxes on y'alls "medical" marijuana to make up for the lost revenue. Bwa, ha, ha.
Ladd has gone off the deep end today.
The vast NE Jackson white male right wing conspiracy again. She always gins up the victimhood and journo best practices claptrap when her audience is flagging. Its been so fun to watch her grovel for contributions.
Marshmallow Head Tata ToT has done nothing since being elected.
No one going to listen to him!
Waller would have been a more aggressive governor.
Now would be a great time to shore up PERS a bit.
12:35 - Actually, his statement tweeted today showed us he is the only one in the room who does understand the accounting.
2:15 talks about not grasping basic economic principles...then offers a solution that proves he has no grasp of basic civics principles.
As the old saying goes "strike while the iron is hot". Behind the influx of federal dollars swelling our state coffers THIS year we can hail the great surplus and finally cut like the rich and prosperous state we pretend to be. We hate those federal dollars but they sure do come in handy!!!!
@3:27 - hi there Mr. Tater Head, thanks for your response. Which basic civic principles do I not understand? Please be specific.
Check the property tax rate in every state that has no income tax. Once you see how high the school county and city taxes are you will be at the Capitol fighting this! The amount you pay in income tax will be same compared to the property tax increase. Fat man busy dancing while the thin man pays the band!
Will Tater never tire of being a Trump toadie? Give it a rest Tater, time to move on.
Please, please, please, let’s vote for the other candidate next time. This guy’s logic is even worse than his writing. His post should have been written in crayon, so that’s saying something.
The sky is falling the sky is falling!
Considering how far advanced both Texas and Tennessee are to Mississippi, if higher property taxes and no income tax is what it takes, then by all means let's start tomorrow.
@5:46 - California has the biggest economy of all. Maybe we should strive to be more like the real winners.
Hmmm Seems like a solid reason to keep the income tax . Thank for clearing things up Tater.
Well just do it then. If it fixes all our problems- fine! Just 9 states have no income tax and they all have large other sources of taxes. Florida has tons of population to raise sales tax, So does Texas and Tennessee. South Dakota and Wyoming have oil. And Nevada has gaming and cat houses. What we got? Chicken houses, soybeans, and furniture factories? You better hope it works brother!
12:07 pm, nice try but next time try to get some facts to support your bullshit.
The counties and cities get no money from the income tax. Cutting or eliminating the income tax will have No, read that again - no - impact on city or county budgets. Therefore there will be no, read again - no - need to raise property taxes.
Ergo, folks - retired or otherwise - will not be paying higher property taxes because the state cuts or eliminates the state income tax.
Try again tomorrow to take your political shots. You flunked out today.
@1215 pm.
None.
Next?
When I lived in Austin my property tax on a modest $350,000 house were $6,500 a year. My daughters $550,000 house were
$12,000 a year. Yep no more income tax is going to be a big help to everyone, especially Seniors. In 5 years or less we will be paying more in total taxes if this goes through.. Do something that will benefit everyone like eliminate or reduce sales tax on groceries.
Have all of you anti-cut people discussed this with your legislators? I suspect they need some real support prior to the Sat Appropriations deadline.
4:32 - The civics principle you don't understand is that we don't simply "...cut the salary of every state legislator", as your earlier posts recommends. If you understood the basics of state government and the principles of civics (responsibility for electing and paying state legislators), in that context, you'd know that's not possible.
Your earlier goofy suggestion: "Want to save the taxpayers some money, cut the salary of every state legislator, they all deserve to be demoted."
9:03, you need to understand a bit more about one-time-money and the budgeting thereof.
@1114 - I understand budgeting. And I understand one time money. And I have actually looked at the numbers.
Clearly, you haven't or you would know that my answer was correct.
12:07 is correct. this is a shell game. They are wanting to do like many other states have done. Move tax collection from the "bottom line" of the income statement to the top line. Revenue is more stable there and more predictable. Texas has done it with great success in the business tax side.
Think about it. Would you prefer a percent of "net profit" or a percent of "gross sales". That's what this is really about. Don't be fooled. A more stable and predictable revenue source. It's not about cutting taxes at all.
Eliminate the sales tax on groceries and you'll guarantee a corresponding ad val increase by the municipalities.
It is so funny when so many Mississippians, at least the anti-tax cut harpies here, are so vehement for Mississippi to remain Mississippi. Truth be told, they actually want more spending and higher taxes. That is the little secret they don't dare share.
So will this mean the Dept of Revenue will audit businesses more often like they did in 2010 to gain more revenue?
Yes, all the roads and bridges are in such stellar condition. Let's do this!
Do it, I can't wait to see the results...
Individuals will save some funds, but the state will get throttled. The state will see no improvement, save for a ribbon cutting ceremony at the newest Dollar General.
And to think Waller and Hood were potentially worse.
I would venture an educated guess that 40cents of every dollar earned in this state is off the books, cash, under the table. This type of earner doesn't pay income tax regardless of his level of income. We should abolish the income tax and recover the lost revenue [and then some] by increasing sales taxes, gas taxes etc.
Tater and Gunn keep crowing about the $7 billion for next year. Have they released a breakdown of this bonanza or are the masses just supposed to trust them?
Also, has an independent financial assessment been conducted for eliminating the income tax or is it just a Republican echo chamber?
Don't trust the budget office. It's headed up by Gunn's close personal friend.
Alabama, Louisiana, Tennessee, and Arkansas - this is you sign to build a border wall to protect you from our shithole state.
1:47 : I know and it's a card now BTW. For the record, I have no issue feeding the less fortunate......but what can be purchased on that card should be installed in the card itself. Keep it simple...with eggs milk bread meat vege.....bags of hot chips and red drank can easily be kicked out with a simple program.
9:03 is right—None… Gov is saying there’s $7B recurring revenue projected to be available, and we should be able to spend only $5.8B…what he is saying actually makes sense—if ifs and buts were candy and nuts…
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