Reduce state income tax and flourish
In reading your editorial suggesting the Legislature develop a plan to solve problems in our state (Dec. 8, Our view: Legislature lacks focus, plan to lift state), I had a few thoughts. First, I agree that bold leadership has been lacking and is essential to get any truly transformational legislation passed. However, you went on to dismiss proposals to eliminate the state income tax as reckless and foolish without any evidence to back up those assertions.
I believe such a change in Mississippi’s tax structure would be just the bold and forward-looking action that your column suggested was sorely needed to get us off the top (or bottom) of the lists. I suggest you and our legislators take a look at this book, “An Inquiry into the Nature and Causes of the Wealth of States” by Arthur Laffer.
It makes a very strong and academic case that lowering or eliminating the income tax would be the single and best thing our state could do to attract more capital and retain it over time. Mississippi’s problems are mostly caused by lack of money. The book points out that the states that have eliminated or reduced their income taxes have had more economic success than those that have not. Texas, Florida, and Tennessee have no income tax. North Carolina is reducing theirs to 3 percent.
So, I am suggesting that your editorial was correct in stating that the Legislature needs focus. But, I assert that the focus needs to be on pro-growth tax reform, primarily income-tax reduction and eventual elimination. I’ll bet you Alabama will do it someday, then Louisiana. Do we want to be last on the list again?
I also want to say thanks to all you Dispatch writers, editors, and others for giving us our local news and opinions. It is an essential part of our wonderful community.
Merry Christmas.
Joe Boggess
Columbus
The Dispatch Editorial Board is made up of publisher Peter Imes, columnist Slim Smith, managing editor Zack Plair and senior newsroom staff.
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