Mississippi just eliminated State Income Tax

[Mr swag]

Like that state needed less tax revenue coming in........

They raised taxes everywhere else. No income tax is a scam and not real

 

[The Intergalactic Koala]

My head hurts

 

[Mowgli]

So they're going to depend more on federal welfare and sales tax. State tax there went to support public services, like education. Black kids about to be dumb as rocks. Save up to leave asap

 

[Sauce Dab]

In 5-10 years when they’re struggling you can bet your ass they’ll raise property tax too

They’re already struggling. Mississippi is the state that struggles the most out of any other state in the country

 

[cyndaquil]

Like that state needed less tax revenue coming in........

Yep so they can siphon more of our federal tax dollars to fund their low educated, racist population

 

[Wiseborn]

Isn’t that basically a sales tax?

Our local state tax in the Bay is nearly 11%.



39

Yes but usually food especially groceries are exempt. Some republicans lost their minds when some cities did a soda tax.

 

[Secure Da Bag]

Ok. Ok. So Mississippi out of 50 states is now the 51st poorest state in the nation.

 

[CarltonJunior]

Isn't Mississippi one of the poorest states in the country? They trying to get a sports franchise to move there or something?

Ive been reading about them trying to build up biloxi into an entertainment destination for some years now, they building some state of the art resort there for musical talent.

Universal Music to build $1.2 billion hotel, entertainment destination in Biloxi

The old Broadwater Resort property will be turned into a $1.2 billion entertainment and hotel destination by Universal Music.

www.wlox.com

If they can pair that with a sports franchise that would help, but the rest of the state

 

[Strapped]

It's just crazy how much time the government taxes you

 

[Admiral Ackbar]

It's not a flex. Millionaires ain't paying their fair share

 

[CopiousX]

It's not a flex. Millionaires ain't paying their fair sh

Millionaires don't get much income tax to begin with. Higher income taxes for the wealthy has always been a misdirection, if capital gains taxes aren't raised too.

At a certain income threshold most of what you get is in capital gains either through stock options in your corporation, distributions from your own LLC as a contractor, or dividends.


Income taxes really only squeezing a few healthcare workers and salary staff at the 75 to 150k level that aren't senior enough to get paid in stock or are too low level to bill to an LLC. For example, a staff accountant on salaray or nurse doing double shifts or associate optometrist. It has no effect on the c-suite being paid in options, or surgeons billing to their LLC. And retirees and generationally wealthy just eat off stocks at the 20% rate along with the c-suite and contractors.

Off the top of my head, the only millionaires that would be affected by income taxes would be the handful of State lottery winners who have no way to convert their winnings into capital gains.

 

[The_Sheff]

This is gonna devastate Memphis. The ONLY reason to live in Memphis as opposed to over the border in MS was because Tennessee didn’t have state income tax. With MS eliminating it, people are gonna get the hell out of Memphis even faster and run to the MS suburbs.

 

[Serious Face]

Where is the state gonna get revenue from? Not a good idea.

 

[bnew]

Kansas experiment - Wikipedia

The Kansas experiment refers to Kansas Senate Bill Substitute HB 2117, a bill signed into law in May 2012 by Sam Brownback, governor of the state of Kansas.[1] It was one of the largest income tax cuts in the state's history,[2] which Brownback believed would be a "shot of adrenaline into the heart of the Kansas economy".[3]

The cuts were based on model legislation published by the conservative American Legislative Exchange Council (ALEC),[4][5][6][7] supported by supply-side economist Arthur Laffer,[8] and anti-tax leader Grover Norquist.[9] The law cut taxes by US$231 million in its first year, and cuts were projected to total US$934 million after six years,[10] by eliminating taxes on business income for the owners of almost 200,000 businesses and cutting individual income tax rates.[10] Brownback compared his tax policies with those of Ronald Reagan, but also described them as "a real live experiment",[11] and had predicted that by 2020 they would have created an additional 23,000 jobs.[2]

However, by 2017 state revenues had fallen by hundreds of millions of dollars,[12] causing spending on roads, bridges, and education to be slashed.[13][14] With economic growth remaining consistently below average,[15] the Republican Legislature of Kansas voted to roll back the cuts; although Brownback vetoed the repeal, the legislature succeeded in overriding his veto.[16]

The Kansas experiment[17] has also been called the "Great Kansas Tax Cut Experiment,"[15] the "Red-state experiment,"[18] "the tax experiment in Kansas,"[19] and "one of the cleanest experiments for how tax cuts affect economic growth in the U.S."[20]

 

[DatBoiHawk]

I did google earth on some cities in Mississippi just for fun and that shyt looks like some 3rd world shyt. Run down buildings and the roads hella fukked up they may as well drive on dirt