The Joplin Globe, Joplin, MO

Opinion

March 5, 2013

Your View: Harming economic growth

ST. LOUIS — In “Reform Missouri’s taxes,” Missouri Rep. Bill Lant argues for income tax reform in Missouri. I agree that it is necessary for the state to drastically overhaul its income tax code.

In addition to what is happening in Kansas and Oklahoma, Nebraska is also looking to eliminate its income tax. If both Nebraska and Oklahoma are successful in following Kansas’s lead, all of the states on our western border will have a significant competitive advantage over us.    

While some have criticized the Kansas plan for severely cutting revenues, Missouri has the opportunity to mitigate those costs with changes to its economic development tax credit system. For instance, the state issues more money in tax credits than it collects in the corporate income tax. Pairing the elimination of the corporate income tax with a tax credit issuance cap could prevent revenue losses. Expanding the sales tax base could also allow for other income tax cuts.        

Income taxes, especially corporate income taxes, are among the most harmful taxes for economic growth. Reducing or eliminating them would enable Missouri to better compete with its neighbors. Hopefully, the actions of our neighboring states can serve as a wake-up call for Missouri to undertake serious reform.

Michael Rathbone, policy researcher

Show-Me Institute

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Opinion
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  • Our View: Vote no on Amendment 1

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  • Your View: Power to defend

    The Globe’s editorial ‘More guns not the answer’ (July 15) was saturated with classic progressive blather.

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  • Your View: Thanks for the generosity

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    July 21, 2014

  • Your View: How to upgrade your business

    Let’s see now. When some folks wish to improve the exterior of their properties and have other taxpayers pay for the improvements, they create a community improvement district.

    July 21, 2014

  • Our View.jpg Our view: Street smarts

    If your daily commute has been shortened because you no longer have to wait at 26th Street and Connecticut Avenue for a train to pass, thank your own tax dollars.

    July 21, 2014 1 Photo

  • Other Views Other Views: Decision fails test

    With the announcement that the State Board of Education has decided not to release individual school test results because of cyberattacks and other problems this spring, educators are scratching their heads, as are taxpayers who footed the bill.

    July 21, 2014 1 Photo

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