For Missourians who make $17,000 or less, about six percent of their income goes towards sales taxes – and less than one percent goes towards income taxes, according to a November 2009 study by the Institute on Taxation and Economic Policy.Read the whole article here. And then vote No on Prop A.
For those who make $412,000 or more, it’s almost completely opposite.
Less than one percent of their income goes towards paying sales taxes, and 4.4 percent goes towards income taxes.
If Missouri’s poor pay proportionately more sales tax and the rich pay proportionately more income tax, an important question for voters this November is: Why would a billionaire propose a ballot initiative that would result in getting rid of local income tax and replacing it with more sales taxes?
Saturday, October 2, 2010
Prop A Is An Attempt to Shift Tax Burden to the Poor
Rebecca Rivas at the St. Louis American wrote a great article about the consequences for the poor of Proposition A passing: