Sinquefield's Fair Tax Proposal Accused of Using Faulty Data

Categories: Bidness, Politics
bad math.jpg
Financier Rex Sinquefield's "Let Voter's Decide" is under fire, accused of using erroneous data to justify its call for eliminating the state income tax and replacing it with higher sales tax.

As the Columbia Tribune reported Sunday, Let Voter's Decide recently published a report on its website written in conjunction with ALEC and economist Arthur Laffer that suggests Missourians wouldn't be hurt by a tax change because they currently pay seven percent of their income in state taxes.

That's incorrect.
The Missouri income tax is actually six percent. If you live or work in the cities of St. Louis and Kansas City, you pay a local earnings tax of one percent, which adds up to a seven percent tax on income. But that only applies to a minority of Missourians.  

"That is not a state measure," Jim Moody, a former state Commissioner of Administration and critic of Sinquefield's proposal, told the Tribune. "The only reason they would include that is to make it look higher, and it is not accurate."

Moody has his own prediction: He says that Sinquefield's fair tax would bankrupt the state and raise state sales taxes from 4.225 percent to over 9 cents per dollar.
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6 comments
mntvernon
mntvernon

The Columbia Tribune comes out against Rex? Shocking!C'mon Chad. After Waters noisome little rag got waxed by the earnings tax vote, there is nothing surprising here. Don't forget that senile mayor, Hindeman, who wreaked havoc on the tax base with his bicycle and 'twee' programs and when the bill came due, Waters and that decripid old fart proposed an earnings tax for Columbia... just like St. Lo & KC.Still, the Letvotersdecide have yet to come out with an apples to oranges comparison that'd make the electorate get out and vote.Your TV commercials are getting TIVO'ed, Rex.

Jfedorow
Jfedorow

Its a mega sales tax... What is fair about bankrupting the state?

Mark C
Mark C

The MO state Fairtax is not the same as national Fairtax, but Fairtax  nationally overall is a con job by Koch Brothers and Grover Norquest.    The details are goofy -- bat shit goofy.

http://fairtaxgoofy.blogspot.c...

TXFairTaxer
TXFairTaxer

Why would you think it would "bankrupt the state"? I don't know your MO state FairTax legislation, but if it is anything like HR-25/S-13 (the FairTax), then you would be looking at a boom in your economic expansion. It would likely bring more work to Missouri and thus help your local economies. You should take the time to learn about something before you just go and try to swat it down.

Anonymous
Anonymous

Funny, the difference in the definition of "fair" between classes.

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