Skip to comments.Missouri Governor Vetoes Income Tax Cut in Favor of Tax Break for Corporation
Posted on 01/18/2014 1:45:43 PM PST by John Semmens
Missouri Governor Jay Nixon (D) vetoed a personal income tax cut that would have returned $700 million to small taxpayers over a 10 year period. Subsequently, he engineered a special legislative session that enacted $1.7 billion in tax breaks over a 23 year period for the Boeing Corporation.
Nixon defended the seemingly contradictory moves by maintaining that not all tax breaks are created equal. The income tax cut that I vetoed would've dispersed small amounts to millions of taxpayers. There was every probability that these taxpayers would've frivolously spent the few dollars they got back. There would've been no measurable impact that we could've taken credit for.
In contrast, the Boeing deal had the advantage of concentrating the benefits all in one place, Nixon went on. There will be jobs at a Boeing plant that wouldn't have existed without this tax break. Voters will see this plant and remember who made it possible. Likewise, there is every probability that executives at Boeing will plow some of their profits back into reelecting the people who helped make them possible. It's a win-win deal.
if you missed any of this week's other semi-news/semi-satire posts you can find them at...
Satire. Never mind.
Memo to self...read all the way to the bottom before posting.
Liberals, always the same carp! If I recall Slick Willy used the same reasoning to renege on the promise of giving back a surplus to taxpayers, they just wouldn't be smart enough to deal with the money. Thank God we have liberals to manage our lives for us, since they consider us the village idiots. I hope misery is happy with what they voted for.
A serious question. Which gives a state bigger bang for the buck? A few dollars each to millions or lump sum to large corporations.