Are House Speaker Jason White and Lt. Gov. Delbert Hosemann whistling in the wind?
Both have appointed special committees to look for prudent ways to eliminate the state’s personal income tax and/or reduce the sales tax on groceries. Their chief airbenders are committee chairs: Ways and Means chair Trey Lamar and Appropriations B chair Scott Bounds in the House; Appropriations chair Briggs Hopson and Finance chair Josh Harkins in the Senate. Their task will be much more difficult than when major changes to personal income taxes were adopted in 2016 and 2022. The revenue winds have shifted. In 2016, the Legislature phased out the 3% personal income tax bracket over five years (2018 – 2022). In 2022, the Legislature eliminated the 4% tax bracket beginning in 2023 and began a four-year phase-down (2023 – 2026) of the 5% tax bracket to a new 4% bracket. The first cut was projected to eliminate $145 million in income tax revenues, the second one $515 million. Growth in other state revenues were projected to increase sufficiently to offset these and other cuts. They did with huge surpluses through fiscal year 2023. However, for FY 2024, year-over-year collections increased just 0.2%. It took high interest earnings on the state’s multi-billion dollar surplus and unspent federal funds to get that. Through two months of FY 2025, collections were basically flat, up 1%. With two more years of personal income tax cuts still to phase in and interest rates and federal funds now falling, the state’s capacity to further cut taxes and avoid future deficits looks doubtful. The outlook is even more pessimistic when other fiscal inputs are considered – the five-year phase-in of increased payments to PERS, the new funding formula for schools that includes inflation adjustments, the growing demand to put in place increased funding for roads and bridges, and so on. Nor does there appear to be sufficient revenue to cut grocery taxes in half as proposed. The projected annual revenue decrease for that is $375 million. In 2021, state economist Corey Miller and senior economist Sondra Collins issued a report showing big hits to state revenues if personal income taxes were eliminated. The dynamic model they used estimated it would take a 3.75% increase in the sales tax for revenues to break even. That would be on top of the current 7% rate. To be prudent, legislators should hold off on new tax cuts until the current ones have completely phased in and revenues post-COVID have stabilized. They might also come to appreciate that when the current phase-in finishes they will have achieved a historic conservative goal – a flat income tax rate. “The prudent give thought to their steps” – Proverbs 14:15 Crawford is a syndicated columnist from Jackson.Sunday, September 22, 2024
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The Kingfish's Favorite Posts
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- Time to return fire on Banks
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- Incest in Dixie: Mississippi Legal Profession
- Jim Hood: Liar
- JFP Tax Problems? (See comments)
- The SafeCity Bill
- Isn't this called secession?
- A Black Governor in Mississippi?
- Time to grade Miles' exam
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Trollfest '09
Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.
Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).
Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.
Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".
In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.
In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.
Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.
Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).
Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.
Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".
In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.
In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.
Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.
Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!
This is definitely a Beaver production.
Note: Security provided by INS.
Trollfest '07
Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.
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!!!
This is definitely a Beaver production.
Note: Security provided by INS.
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!!!
This is definitely a Beaver production.
Note: Security provided by INS.
20 comments:
They are fixin' to run for higher office by pandering to the useful idiots.
There were always just a few legislators who had any grasp of higher mathematics or finance and fewer still who understood economics.
But, we did elect enough who respected education and experience who didn't think their "guts" and "feelings" were infallible.
Using Crawford's logic any consideration of Medicaid expansion should be shelved until 2027 so that the full effects of the existing tax cuts can be measured and evaluated. Because such expansion WILL require incremental spending of monies, per Crawford, that we apparently do not have.
Miller and Collins are both conflicted on the subject of tax cuts as their full-throated boosterism of Medicaid expansion is already well established.
Leave the income tax alone. Cut grocery by 50%. Wait for the other tax bumbles to play out. FFS.
Cutting grocery tax in half only means that city dwellers who own real property will get to eat the municipal sales tax revenue shortfall through a municipal mileage increase.
Good post.
The cost to run the states operations increases every year. The only way to fund those operations is through the collection of taxes. Either revenue increases at the same rate of expenses or cut expenses to match revenue. The elimination of income taxes was always a political ploy by those currently in power to further their own political careers.Then when the inevitable crisis came they would be long gone.We need to start electing people who will tell us the truth even if we may not like it. Sadly that will never happen.
11:36 - That works two ways. People have to be ready to accept the truths they're given and these days, no one has the balls to hear it.
According to the mythical workforce participation rate stats (again, mythical), this state has attracted a lot of retirees and is long time home to many more.
They have no income to report in most cases and we advertise nationwide the fact that we don't have a state tax on any sort of retirement income, in an effort to attract more of them.
Cut or eliminate the grocery tax which affects everybody but those who use EBT cards and the latter don't worry about grocery taxes, income taxes or property taxes.
If the federal government would pay (to municipalities directly) taxes on EBT purchases that would solve the other problem and rescue the small towns.
State income tax on a $40k salary would be somewhere around $1500. That extra $125 per month in a taxpayer’s pocket is not worth bankrupting a state over. The ones in this state that need $ in their pockets each month don’t even pay taxes anyway.
Bill has never met a tax reduction he supports
One thing for sure: A majority of taxpayers earning between $20k and $60k would vote for the state filing bankruptcy in exchange for a one time payment of $1,500.
They won't have a clue what the bankruptcy filing would do to thier lives, but would vote for it anyway.
There's a reason Mississippi is where it is.
8:37 nailed it.
There is no income tax. It’s instead a tax on working. Income tax, work tax, whatever you need to call it, it’s morally wrong and simply genteel robbery at eventual gunpoint by our betters in government.
Why are these simpletons talking about 'state bankruptcy'. Since when is this even a remote possibility under any circumstances?
We have to attract human and capital investment to Mississippi. Growth is key.
The large demographic that's mired in single parent households, places no value on the traditional family, views educational venues as daycare facilities, places little value on work and relishes the thought of receiving more stuff for less contribution - That's the dynamic that will forever stop this state from realizing its potential.
That dynamic and the roadblock it presents is a brightly lit sign to any company or family taking a look at Mississippi.
As long as Democrat Delbert Hosemann is in the mix, Mississippi will never take bold steps forward.
If we reach the point of no income tax, we still will not grow to the extent some leaders believe we will. I would rather keep the income tax yet lower the grocery tax but frankly our state needs the revenue from all of them.
What we don't need is so many layers of government at the city, county and state levels with people drawing salaires and not doing much beyond the work of a part time person in some of those roles.
Hey there Shotgun. Be specific.
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