I goofed — significantly — in my recent letter about eliminating the Mississippi state income tax. I claimed that wealthier Mississippians, with more discretionary income, would save big when they ‘buy their bass boats or third or fourth car’ – which is the opposite of what would occur!
I still think the proposal disproportionately — and unfairly — shifts the state tax burden to families and individuals with lower incomes. As Bill Gilmore showed in a recent letter with actual numbers, the income of many Mississippi families is well below the national average and would pay more of their income due to the increase in sales tax than they would save from not having to pay income tax. Wealthier families would see the opposite; not having to pay income taxes would more than offset the increase in sales taxes.
And consider retirees among us — average annual income for Mississippi retirees is well under $30,000 but they are not required to pay income tax. That would all change with the proposed bill and our state would quickly cease being the retirement haven it is now widely advertised to be.
Paul Mack, Columbus