Sunday, July 14, 2024

Bill Crawford: Pew Data Shows Exception to Income Tax Elimination Argument

Want to look at comparative data on state tax revenues and not just listen to what politicians say? How about the state’s financial health? Or Medicaid spending? Or population growth?

Pew Charitable Trusts’ updated “Fiscal 50” web site (www.pewtrusts.org/fiscal50) lets you easily compare key data and trends among the 50 states plus provides useful analyses.

“South Carolina, Florida, and Texas were the fastest-growing states in 2023 while eight states lost population,” comes from one such analysis. It also shows that Mississippi was one of the eight losing population between 2008 and 2023. Related detailed data shows Mississippi losing population in the critical 0-to-4 and 5-to-19 age groups while it shows the others gaining.

Hmmm.

We hear about Florida and Texas all the time with regard to their lack of personal income taxes. So, does South Carolina’s growth prove the argument that we need to eliminate personal income taxes to grow?

“Of its tax sources, South Carolina relies the most on personal income taxes,” Pew reported, “followed by general sales taxes.”

Golly gee. Maybe eliminating income taxes isn’t the magic bullet for growth. (Note: Pew also shows that Mississippi “collects the fourth lowest portion of its tax revenue from personal income taxes, of the (41) states that levy them.” And that’s before the current phase down is complete.)

Here are more data from Pew. South Carolina gets 51.5% of its total revenues from federal sources, 38.9% from state taxes, and the balance from service charges and miscellaneous sources.

Medicaid spending factors into that federal percentage. South Carolina Medicaid spending was right at the national average. While the state has not expanded Medicaid, due to a waiver approved in 2019, parents and caretakers of minor children are eligible for Medicaid with incomes up to 100% of the poverty level.

Comparative data for Mississippi, shows the state “relies the most on general sales taxes, followed by personal income taxes;” gets 45.2% of total revenues from federal sources, 40% from state taxes, and the balance from service charges, miscellaneous sources, and local funds; and is noticeably below the national average for Medicaid spending.

All the above data was easily found at Pew’s Fiscal 50 web site on a smart phone. There is much more available.

Pew expects the web site to help policymakers “access and understand the drivers of long-term budgetary trends.” It will also help voters find data easily so they can hold policymakers accountable.

“To the Jews who had believed him, Jesus said, ‘If you hold to my teaching, you are really my disciples. Then you will know the truth, and the truth will set you free.’” – John 8:31-32.

Crawford is a syndicated columnist from Jackson.

10 comments:

Anonymous said...

Excellent food for thought. Here's an idea: Keep our revenues here and don't send so much to a bloated and very inefficient federal government.

If the feds send us $10 it probably cost $20 in overhead, i.e. $30 yields $10 return on investment.

DJT plans to cut the boated federal government and thus the deep state wants him dead.

Anonymous said...

1:02 - You're painfully unaware of the money Mississippi receives from the feds in comparison to the amount the state sends to the federal government.

You still runnin' them maypops on that dually with the Yeti cooler chained down in back?

Anonymous said...

July 14, 2024 at 3:06 PM, you're still flopping those gums about what Mississippi collects from the U.S. government? The two statements below are from the article. The state ain't on the bottom of this one.

Oh, I forgot to tell you, I traded the dually for a new 5 series BMW. You should come around more often.

South Carolina gets 51.5% of its total revenues from federal sources,

Mississippi, gets 45.2% of total revenues from federal sources,

Anonymous said...

I'm hoping Trump cuts that number by half, to 22% of revenues from Uncle Sugar.

Anonymous said...

July 14, 2024 at 10:41 PM, you probably hope to see a unicorn someday, don't you. You also don't math so well, do you. Half of 45.2 would be 22.6.

Anonymous said...

I live in Texas and pay no state income tax, however, my property taxes are more than triple what I paid in Mississippi. In addition, they re-assess my property value every single year, so my property taxes continue to go up yearly. Be careful what you wish for.

Anonymous said...

Absolutely loved this story. For once, someone is trying to report the truth. Mississippi’s main economic business is the federal government. We are at 45.2%. This number is going to grow exponentially in the next 10 years just with the current laws in place. No new expansion laws are needed. If we pass those, get ready for a higher increase. Our politicians need a dependent group so they can retain their power. Mississippians readily accept their kings to rule them. Staying the course creates the same results. Then the politician starts feeling all his power and throws the dependent class a bone (promise) and they readily accept it. Politician is elevated as king. The dependent class gets more money that is not intended to help but to get them to shut up and comply. After a few years, the dependent class gets restless and the politician throws another bone. Until Mississippians want to educate themselves and help themselves, this cycle will continue. We are #50 in this nation for a reason, we want and like to be the bottom of the barrel. I believe we and the rest of the world call it “the club” or “the good ole boys”.



Daddy Warbucks said...

Is that Chris McDaniel at 10:41pm? Yeah, let’s tell the U.S. government that we don’t need federal funds here in Mississippi. We are so damn rich, we can pave our own roads, repair our own bridges, etc. Federal dollars? We don’t need no stinking federal dollars!

Anonymous said...

I've always heard about this "Club" and "the good ol' boys." I never hear any names, though. Why is it that these edgy folk snarkily snarking about this "Club" and "the good ol' boys" are so chickenshit that they don't name the names? Tits or GTFO.

Anonymous said...

Calm down 9:25am. If a stone is hurled into a pack of dags, the one that yelps is the one it hit.

Mississippi is dead last because it’s a poor state. There’s damn little to tax, we are not prosperous. Go to Greenville SC and see the businesses there. They need and employ hightly skilled and educated labor, and the state is providing that, and above all providing a nice quality of life that attracts people.

Tater’s doing the best he can getting jobs to the state, but few are of the breadth of Greenville’s. It will take two to three more generations for this state to emerge from this prosperity crisis. The quality of life here is good if your lucky enough to get a good paying job, and shop for your finery in Memphis or Birmingham, or on-line.


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There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

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