Posted on 01/20/2014 7:44:47 AM PST by SoFloFreeper
Opponents of the Republican priority tax cut proposals say they won’t generate the economic development that supporters proclaim.
Three proposals are soon to be headed to the Senate for debate. Proponents say cutting taxes will leave more money in the pockets of businesses that will hire more employees and create more tax income offsetting the tax cuts. They claim other states are growing after tax cuts. Critics say those comparisons are apples and oranges.
One of the critics is former state budget director Jim Moody, who says the big cuts in Kansas that are so attractive to Missouri Republicans are not leading to growth. He says Kansas’ tax receipts are expected to be $550 million less this year than they were two years ago. “They are not growing; they are contracting,” he tells a committee.
Another critic, Amy Blouin of the Missouri Budget Project, says the tax cuts will mean maximum savings of about $65 a year for about eighty percent of Missouri taxpayers and will mean only $8,000 for million-dollar businesses—hardly enough to pay for hiring one more employee, let alone several of them.
Democrats say they want low taxes, too. But they say Missourians also want good schools and good roads…and the state should not hurt its ability to meet those and other responsibilities by cutting revenues.
(Excerpt) Read more at missourinet.com ...
Missouri morons are the same as morons in every other state: Democrats.
The legislature in Missouri must be Republican, though I know the governor is an Obama loving Demon Rat by the name of Nixon.
And they also said that if you liked your insurance you could keep it.
Businesses must not be allowed to make a profit, and must be punished if they somehow do make a profit in spite of regulation.
Why won’t businesses grow?
These idiot Democrats just never learn. They want to spend and spend and when they run out of money they will raise our taxes, and if that fails they’ll just crank up the presses and make some more.
Missouri is next door to Illinois, which is about to tax it’s way into oblivion. If you build it, they will come.
bfl
Taxes are a form of POWER!Lowering tax-rates(though ALWAYS a stimulant to economic activity)represents (To Liberals)an “Abdication Of Power”It’s REALLY As Simple As That!!!
They should raise the import tariffs and offset it with cuts to the individual income tax. A 10% increase in the tariff would fund a $1500/worker tax cut.
Restoring the tariffs would help industry to return to the U.S.. It would put people back to work. It would boost Government revenues because more people were working. And it would cut government outlays for food stamps, medicaid, and unemployment among others.
They missed the point completely. Even if the State taxes go down they are more than offset with obamacare tax increase. That’s why business of all sizes are not hiring. They see the huge load from obamacare on the economy and see little growth in the near term.
Just see the people who make money and see where they are moving to States with lower Taxes.
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