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Old 10-27-2014, 05:37 PM
 
1,200 posts, read 1,501,678 times
Reputation: 2487
At one point, Fordice wanted to do away with the state income tax, but it didn't gain enough traction. I think the prevailing thought was/is, "they're going to get the money one way or another." Still no state income tax would be a draw for bidnesses and peeps.
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Old 10-27-2014, 06:12 PM
 
Location: Concord, NC
401 posts, read 621,581 times
Reputation: 94
I agree, Mississippi is terrible. Move to North Carolina for freedom!
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Old 10-27-2014, 07:42 PM
 
1,098 posts, read 2,943,876 times
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I believe the personal income tax has the largest impact on business investors (e.g. a person who owns a small company with say a 100-200 employees etc), moreso than property taxes and sales taxes.

So if they eliminate the personal income tax, it will trigger a huge business expansion, thereby increasing state revenues due to the businesses themselves being so much larger. It would likely take a few years, but within two or three years the total revenues collected by the state would return to the level collected prior to the tax cut (because of the huge business expansion). This is what happened in the 1980s cut federal tax rates from something like 75% down to 28%. Soon thereafter, the nation was creating something like a half a million new jobs a month and revenues to the government within a couple of years were higher than ever.

I think the governor is cautious about taking on short-term debt after a tax cut because it's a gamble as to how long it will take for total government revenues to return to their previous total amount (through economic growth triggered by the tax cut). But I believe the state has been steadily paying off the debt and collecting a rainy-day cash fund, so that they have some spare room to take on short-term debt after an income tax cut.
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Old 10-28-2014, 12:41 AM
 
Location: Southeast Arizona
3,369 posts, read 4,777,895 times
Reputation: 2451
There is good and bad in everything.
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Old 10-28-2014, 11:41 AM
 
Location: Concord, NC
401 posts, read 621,581 times
Reputation: 94
53 things to do in Jackson-
Jackson Tourism: 53 Things to Do in Jackson, MS | TripAdvisor
224 things to do in Charlotte-
Charlotte Tourism: 224 Things to Do in Charlotte, NC | TripAdvisor
78 things to do in Raleigh-
Things to do in Raleigh: Check out 78 Raleigh Attractions - TripAdvisor
And If you want me to go to a city close to Jackson population, 43 things to do in Fayetteville-
Fayetteville Tourism: 43 Things to Do in Fayetteville, NC | TripAdvisor
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Old 10-28-2014, 04:26 PM
 
Location: Southeast Arizona
3,369 posts, read 4,777,895 times
Reputation: 2451
Quote:
Originally Posted by Jimmysmile View Post
53 things to do in Jackson-
Jackson Tourism: 53 Things to Do in Jackson, MS | TripAdvisor
224 things to do in Charlotte-
Charlotte Tourism: 224 Things to Do in Charlotte, NC | TripAdvisor
78 things to do in Raleigh-
Things to do in Raleigh: Check out 78 Raleigh Attractions - TripAdvisor
And If you want me to go to a city close to Jackson population, 43 things to do in Fayetteville-
Fayetteville Tourism: 43 Things to Do in Fayetteville, NC | TripAdvisor
This isn't some sort of competition.

North Carolina is a nice state too, my favorite NASCAR teams reside there.
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Old 10-28-2014, 07:25 PM
 
Location: The South
7,299 posts, read 5,512,820 times
Reputation: 12542
Quote:
Originally Posted by Jimmysmile View Post
I agree, Mississippi is terrible. Move to North Carolina for freedom!
But your state has the "N" word in its name and that's enough for some of us.
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Old 10-28-2014, 07:52 PM
 
2,687 posts, read 2,100,878 times
Reputation: 1478
Quote:
Originally Posted by Jimmysmile View Post
I agree, Mississippi is terrible. Move to North Carolina for freedom!
They could try to make it better.
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Old 11-02-2014, 03:26 PM
 
Location: Concord, NC
401 posts, read 621,581 times
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Quote:
Originally Posted by Votre_Chef View Post
They could try to make it better.
yep, I think Jackson, Mississippi is the only heart and only soul of the entire state of Mississippi.
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Old 11-02-2014, 03:28 PM
 
Location: Concord, NC
401 posts, read 621,581 times
Reputation: 94
Quote:
Originally Posted by Desert kid View Post
This isn't some sort of competition.

North Carolina is a nice state too, my favorite NASCAR teams reside there.
yeah I know, i'd just like to see more Mississippi license plates floating around the state.
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