Tags: state | income | taxes | revenues

Conservatives Push End to Income Taxes in Several States

Monday, 07 Nov 2011 05:10 PM

By Greg McDonald

Conservatives in several states are pushing to abolish state income taxes, but critics of the movement counter that revenues would have to be raised from other sources to avoid cuts in important government services.

Supporters of a constitutional amendment to ban the Missouri state income tax are collecting signatures to get the initiative on the ballot next year, according to a Stateline.org report.

In Oklahoma, meanwhile, Republican Gov. Mary Fallin and some key legislators are backing the idea, while in Kansas, GOP Gov. Sam Brownback is expected to unveil a plan in the next few weeks to cut tax rates with an eye toward doing killing them off down the road.

The movement comes at a time when more state legislatures are being taken over by conservative majorities that share the same view — that a tax essentially on wealth slows economic growth, according to Stateline. But the task could be difficult, given the strong opposition to the idea from businesses and other interests who fear that taxes and fees in other areas will have to be raised.

Alaska is the only state that has done away with its income tax during the past 31 years, and that was because the Alaska pipeline could provide billions in replacement revenue to help fund government programs.

At the moment, only nine states are income tax free, according to Stateline. Some of them are facing serious budget issues, but only Washington has tried to impose a new tax on personal income to help with funding gaps. Voters soundly rejected a move last year to tax state residents making more than $200,000 a year.

In Oklahoma, officials are mindful that eliminating a key source of revenue could backfire, especially if economic problems worsen.

“What we have to do is approach this taxation discussion responsibly and analytically and not ideologically,” Oklahoma State Treasurer Ken Miller told Stateline. “We’ve been talking about this for years. Now we can actually accomplish it. It’s that, ‘Be careful what you wish for, you might get it.’ ”

© 2015 Newsmax. All rights reserved.

Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
Zip Code:
Privacy: We never share your email.
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
You May Also Like

Tom Petty: Sam Smith Song Similarity a 'Musical Accident'

Friday, 30 Jan 2015 11:25 AM

Tom Petty and his producer Jeff Lynne will each get a songwriting credit and royalties for Sam Smith's Grammy-nominated  . . .

Jay Z's Aspiro Purchase Puts Him in Music Distribution Biz

Friday, 30 Jan 2015 11:27 AM

Shawn Carter, aka Jay Z, is buying the Swedish music streaming company Aspiro for $56 million, putting him in a position . . .

Lindsay Lohan: Meet-and-Greet With Fans Counts as Community Service

Friday, 30 Jan 2015 10:32 AM

Lindsay Lohan was sentenced to community service for reckless driving in 2012, and now court prosecutors are questioning . . .

Top Stories

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

America's News Page
©  Newsmax Media, Inc.
All Rights Reserved