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
Subscribe to:
Post Comments (Atom)
Email address
kingfish1935@gmail.com
Support this site.
Mail donations to:
ATTN: Jackson Jambalaya
1220 E. Northside Dr., Ste 170, Box 189
Jackson, MS 39211
ATTN: Jackson Jambalaya
1220 E. Northside Dr., Ste 170, Box 189
Jackson, MS 39211
Marshall Ramsey
Clarion-Ledger
PACER: Southern Dist.
WAPT
Babylon Bee
Y'all Politics
The Rez News
And The Valley Shook
NMissCommentor
Calculated Risk
Recent Comments
Search Jackson Jambalaya
Most popular posts last week.
- Why Jackson Doesn't Work Reason #______
- Lumumba Lawyers Up
- Mississippi College Changing Name, Drops Football
- Mayfield Pleads Guilty
- Thalia Mara Hall Manager Forced Out
- Mayor Responds to 5th Circuit Ruling on Airport Takeover Lawsuit
- Mary McPhoney's & Manager Sentenced for Fraud
- Coming Soon: The Kings of Tupelo
- Metrocenter Claims Another Victim: Retro Metro
- Fifth Circuit to JMAA: "Groundhog Day has come to an end."
Subscribe to JJ's Youtube channel
Special Coverage
- ZeroBear PolyBear's Recipes
- Lamar Adams/Madison Timber Case
- The Gold Coast of Rankin County
- PERS Coverage
- Hinds County Coverage
- Frazier coverage
- JPS & Education
- Madison County coverage
- Heather Spencer Murder
- Steadivest fraud case
- Jackson interest-rate swaps/refinance of bonds
- Evans case
- Jackson Airport stuff
- Jackson EPA Emergency Order
- Jackson Water Crisis
Archives
-
▼
2024
(1462)
-
▼
September
(144)
- Drip, Drip, Drip, New Orleans Style
- WLBT Shows Receipts
- Fear the Hat
- WLBT Busts Gregg's Attorney
- Hope Returns
- Idiot of the Day
- Savages Sentenced
- Bye-Bye, Bastard!!!
- The Rich Get Richer......
- Fighting Fear With Fear
- Bill Crawford: Mississippi Symphony Orchestra Rema...
- 44 Years
- City Fires Back in Smith-Wills War
- Don't be a Burglar in Madison
- D.L. Gardner: Four More Years
- Carly Gregg Asks for a New Trial
- Thalia Mara Update
- MCPP: Help Us Defeat the Woke-Mind Virus
- Daiquiri Bar Murder Suspect Caught
- Shrimp Bisque
- Idiot of the Day
- Feds Bust Lexington PD
- Carly Gregg Case: The Postgame Show - with Annotat...
- Live from the Classroom
- Flashback: Smith-Wills Edition
- Closing Soon?
- Robert St. John: Mississippi, You're on my Mind
- Scholars Have a Gentleman's Debate
- Sid Salter: 32 Years After Murders, Manning's Deat...
- It's The State's Fault, Smith-Wills Edition
- Favre Has Parkinson's Disease
- Accused Carjacker Gets $1.5 Million Bond
- Bedwetter Alert
- Gregg Trial: The Post-Game Show
- Mayor Holds Regular Briefing
- School Grades Are Out
- Branning for Mississippi Supreme Court
- Where Dreams Come True
- 71 Year-Old Man Convicted for Killing Wife
- When Failure Leads to Success
- Bill Crawford: Revenue Winds Have Shifted
- The Return of Soggy Sweat
- And They are Off to the Races
- D.L. Gardner: Abortion Survivors Don't Play Politics
- Thalia Mara Hall Update: New Chiller Arrives
- Gregg Gets Life
- MCPP: Move Up, Mississippi. It's Time for School ...
- Live from the Courtroom
- Why Do We No Longer Bake This Way?
- Defense Embarrassed When Prosecution Brings Receip...
- Feds Go After Rankin County
- What is Life? What is Work?
- Pre-Trial Prep
- Water Clerk Busted
- The Grades are Out. How Did Mississippi Schools Do?
- Live from the Courtroom
- "Is My Stepdad ok?"
- Ka-boom! There Was a Ka-boom!
- Robert St. John: End of an Era
- Parks & Recreation?
- Live From the Courtroom (Updated)
- Sid Salter: State's Incarceration Rate Tops Nation...
- JATRAN Strike Ends
- "Where the White Women at?"
- The Murder of Ashley Smiley (Updated)
- A.G. to Jackson: Turn Over Smith-Wills Stadium
- Trigger Warning!
- The Ballad of Rudy Continues Again
- Live from the Courtroom (Updated)
- Woman Pleads Guilty to Rental Assistance Fraud
- Good Job, Richard's.
- Watch Carly Gregg Trial (Updated)
- Live from City Hall!
- Judge Fed-Up With Carly Gregg's Defense Team
- Clinton Mayor to Retire
- Hope for the Hearing-Impaired
- Getting Crowded
- Warming Up
- Flashback: When Jackson Restaurants Feared Epicurious
- The Package is More Important Than the Content
- Bill Crawford: Hurricane & Wind Threats Destabiliz...
- Live from Arlington
- Found!
- Bank Robbery in Clinton
- D.L. Gardner: Wisdom to Know the Difference
- Fire and Mold
- Ex-Horn Lake Ealdorman Arrested
- MCPP: Let's Get Serious About Tax Cuts
- It's Baaaaaack
- Smothered Chicken and Taters is Tasty Comfort Food
- Gone!
- David L. Archie Gets Another Day in Court
- Flowood Police Arrest Shooter
- Ole Miss Vice-Chancellor Indicted for 20 Counts of...
- Flashback: City Council Cuts Thalia Mara Restorati...
- International Observers Watch UMMC Pediatric Surgery
- Remembering 9/11
- Like Mother, Like Son?
- Taste is Coming to Renaissance
- Minus $40 Million and Counting
-
▼
September
(144)
The Kingfish's Favorite Posts
- Presenting the Mississippi State Capitol (Video)
- Editorial: The airport belongs to Jackson. Period.
- Kelly arrested for taking pics of Rose Cochran
- The Real Face of Mississippi Government
- PERS gets mo' money but funding level falls
- Majority black public school districts spend more, waste more, fail more
- Jackson's water bond failure: The REST of the story.
- Time to return fire on Banks
- Supervisor votes on projects next to land he owns
- Throwdown at the Levee Board
- Door shuts on another life
- Truth begins to come out in Irby case
- Judge orders interview of Irby
- Steadivest: Snakes or snake-bitten?
- Post-election thoughts
- Rest of the story about Crisler's shooting
- Jackson paying $4 million in fees
- Will Jackson end up like Birmingham
- Record-breaking fraud?
- FBI contacted MVT about Evans
- Heather Spencer police reports
- An open letter to John McCain
- Are your 401k's safe from Democrats?
- Democrats' Plans for Controlling the Media
- Who is Teresa Ghilarducci?
- Kingfish wins at Ethics Commission
- Tribe of Obama
- Berry V. Aetna (rankin County Cesspool)
- 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
- Domestic Violence & Divorce in Mississippi
- Truthwatch, eh?
- What is Jackson Jambalaya?
- Election Night Thoughts
- Counter-Insurgency for Beginners
- Jazz for Beginngers
- Mayor Melton's Soljah
- A Leopard Can't Change His Spots, Can Jere Nash?
- Harborwalk Hoax?
- A Pox on All Your Houses
Local Media
- Y'all Politics
- WLBT
- West Jackson Facebook page
- WJTV
- The Northside Sun
- WAPT
- The Mississippi Link
- The Rez News
- Othor Cain
- Mississippi Magazine
- Jackson Free Press (Jackson, MS Alternative Weekly)
- Harborwalk Thread (Jackson's Latest Boondoggle)
- Darkhorse Press
- Clarion Ledger (Jackson, MS Gannett Newspaper)
- Clay Edwards Show
- Barksdale Today
- Supertalk Mississippi
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.
Post a Comment