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Plan to replace Missouri income tax with expanded sales tax heads to voters
(missouriindependent.com)
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this post was submitted on 21 May 2026
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There is a basic illiteracy about economic matters that makes me despair for democracy.
Sales taxes are inherently regressive taxes. They take more money from the poor than they do from the rich. This is harmful to the velocity of money, ie, bad for the economy.
Income taxes, when implemented with multiple tax brackets as we normally see it, is inherently a progressive tax. It takes more money from the rich than from the poor.
If you're putting something like this to the vote it should be an absolute no-brainer. But "no-brainer" really does seem to describe the electorate most of the time, so it's a tossup I guess. Depends whose slogans get more advertiser time.
My thing is lower it but apply it to all transactions like stock trades.