Since few will tell Mississippians the ultimate truth, I will…the state is in a serious situation….the economy sucks, the educational system is horrible and the only answer that the elected politicians have for an answer is taxes….they are so afraid of change that they continue a failed system of taxation, that has not worked well in decades.
Why is this happening?
Why does the state of Mississippi treat taxes like a yo-yo, up-down, up-down?
They want to raise the excise tax on cigs. They want to lower taxes on corporations.
Okay let us talk about this in detail. You do realize that most revenue the state has to work with comes in the form of tax collections? Right? If it wants to keep its income it must raise taxes on some things to cover the lower taxes on others. Understand so far? It is that simple.
Now the taxes that they are raising are the taxes that working families have to pay and the ones that are lowered are for corporations doing business in the state. Did you know thgat the state gives corporations a tax cut to do business and then they gewt another for job creation and now they may not have to pay corporate income tax. With that loss of revenue, it has to be made up somewhere and where would that be? Most likely on the backs of working families.