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Started By
Message
Mississippi eliminates income tax
Posted on 3/28/25 at 7:42 am
Posted on 3/28/25 at 7:42 am
19
Posted on 3/28/25 at 7:43 am to RaoulDuke504
If youre ever down and want to feel better about yourself drive thru Mississippi.
Posted on 3/28/25 at 7:49 am to texag7
quote:
If youre ever down and want to feel better about yourself drive thru Mississippi.
says the guy with College Station in his profile sig....
Posted on 3/28/25 at 7:50 am to RaoulDuke504
Was there anything to collect? Mississippi is the poorest state. Thank God I live in Louisiana
Posted on 3/28/25 at 7:50 am to RaoulDuke504
While this is great, let’s also give them a huge frick you for killing the PBM reform bill .
All the sweat equity in fighting for it, all for nothing. And almost everyone in the state will suffer once these independant pharmacies who’ve been barely treading water finally give up and close with no reform on the horizon and any hope of future profit is now dead
When everyone has to go to cvs and Walgreens because that’s all that’s left, everyone can thank our cowardly legislature .
It didn’t have to be this way.
All the sweat equity in fighting for it, all for nothing. And almost everyone in the state will suffer once these independant pharmacies who’ve been barely treading water finally give up and close with no reform on the horizon and any hope of future profit is now dead
When everyone has to go to cvs and Walgreens because that’s all that’s left, everyone can thank our cowardly legislature .
It didn’t have to be this way.
This post was edited on 3/28/25 at 8:19 am
Posted on 3/28/25 at 7:53 am to RaoulDuke504
quote:
Mississippi eliminates income tax (eventually)
Found from another article.
quote:
Gov. Tate Reeves signed a bill into law that will eliminate the state income tax.
"We've fought hard to get this done for years, and it's finally happening," Reeves said on social media. "It will lead to more money in your pocket."
Earlier this month, the Mississippi House passed a Senate plan that would gradually eliminate the state income tax. Under the plan, the income tax will drop by 0.25% each year until 2030, when it reaches 3%. From that point on, the tax will drop gradually depending on the gap between the state's revenue and expenses until it is eventually eliminated entirely.
Posted on 3/28/25 at 7:56 am to KamaCausey_LSU
quote:
it reaches 3%. From that point on, the tax will drop gradually depending on the gap between the state's revenue and expenses until it is eventually eliminated entirely.
How is the budget looking next 10 years?
Edit: link? Would like to read the article
This post was edited on 3/28/25 at 7:58 am
Posted on 3/28/25 at 7:59 am to RIPMachoMan
Just a local news station article. First one that popped up when I googled.
They're planning on making up the difference by increasing the gas tax.
Mississippi Income Tax Elimination Plan
They're planning on making up the difference by increasing the gas tax.
Mississippi Income Tax Elimination Plan
Posted on 3/28/25 at 8:03 am to KamaCausey_LSU
This is the same as Louisiana, this is just a tax swap. There is no industry in either state, so the populace is saddled with the tax burden. Mississippi citizens will be satisfying the tax budget, whether it through income or another tax.
The only way “to put money back” in citizens pockets is to cut spending
The only way “to put money back” in citizens pockets is to cut spending
Posted on 3/28/25 at 8:11 am to Mingo Was His NameO
quote:It’s for the headline so “conservative” governors can tell us how conservative they are. Such a joke.
This is the same as Louisiana, this is just a tax swap.
Posted on 3/28/25 at 8:13 am to RaoulDuke504
Will this drive more high earners to the state? Or just hurt poor people with regressive taxation?
Posted on 3/28/25 at 8:15 am to RaoulDuke504
It will be completely eliminated by the year 2030
Posted on 3/28/25 at 8:16 am to GeauxHouston
I’m not an economist but this seems like a good thing in the long run. Should attract more businesses and jobs to the state.
Sucks that Louisiana is now sandwiched between two states with no income tax.
Sucks that Louisiana is now sandwiched between two states with no income tax.
Posted on 3/28/25 at 8:19 am to RaoulDuke504
Tennessee has no state income tax and the economic situation is pretty good
Posted on 3/28/25 at 8:19 am to RaoulDuke504
How are they going to compensate for the lost revenue ?
Texas makes theirs back with high property taxes, but Texas has millions of homes north of 500K.
The Sip will have to tax farm land which sounds like a disaster.
Texas makes theirs back with high property taxes, but Texas has millions of homes north of 500K.
The Sip will have to tax farm land which sounds like a disaster.
Posted on 3/28/25 at 8:20 am to GeauxHouston
quote:
Will this drive more high earners to the state? Or just hurt poor people with regressive taxation?
People don’t want to pay taxes.
People also want nice things like roads, police and fire protection, good schools, libraries, parks, etc. Those things cost money and are paid for by taxes.
High tax states like California and Mass. have nice things. Low tax states like Miss. and Louisiana don’t. (And when I say high tax, I don’t mean just income. Texas doesn’t have income tax, but property tax is super high)
It’s simple…but also not simple.
Posted on 3/28/25 at 8:20 am to RaoulDuke504
Why Louisiana didn’t fast track doing this is beyond me. Has a proven track record of turning states around
Posted on 3/28/25 at 8:21 am to Lawyered
quote:
give them a huge frick you for killing the PBM reform bill .
Every representative in the house while taking money from Ergon, capital resources, centene, etc… and killing the bill “we love independent pharmacies! I use an independent pharmacy myself!” I am encouraged the way the pharmacy community banded together this year though. In the past that’s not happened on a scale like this.
This post was edited on 3/28/25 at 8:27 am
Posted on 3/28/25 at 8:25 am to Suntiger
Mississippi probably has a lot less infrastructure to support with taxes than those states
Posted on 3/28/25 at 8:27 am to RaoulDuke504
Louisiana needs to get on board.
We fricked up the legalization of weed multiple times and we frick up large companies coming here.
But, for once, just one freaking time, can we please, pretty please get on the elimination of income tax train?
We fricked up the legalization of weed multiple times and we frick up large companies coming here.
But, for once, just one freaking time, can we please, pretty please get on the elimination of income tax train?
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