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Posted by
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Mississippi may eliminate state income taxPosted by member12 
on 2/24/21 at 10:13 am
on 2/24/21 at 10:13 am
73
0quote:
LINK
The legislation would eliminate the state’s personal income tax starting in 2022 for:
Individuals making up to $47,700
Couples making up to $95,400
Head-of-family individuals making up to $46,600
These exempt income levels would increase each year, assuming the state is bringing in enough revenue. That calculation would be done annually by the state Commissioner of Revenue, until the state income tax is phased out. The full phase-out could occur as soon as a decade from now, if revenue growth stays steady.
As if Texas wasn't drawing enough of Louisiana's talent.
If this passes, Louisiana would be between two states that are going dominate it economically.
ETA: Bolded the phase out wording since you guys are too lazy to read the whole paragraph.
This post was edited on 2/24 at 10:17 am
re: Mississippi may eliminate state income taxPosted by MorbidTheClown 
on 2/24/21 at 10:14 am to member12
on 2/24/21 at 10:14 am to member12Ms. Gov also lifting restrictions a week from today.
re: Mississippi may eliminate state income taxPosted by tgrbaitn08 
on 2/24/21 at 10:15 am to member12
on 2/24/21 at 10:15 am to member12quote:
Individuals making up to $47,700
Couples making up to $95,400
Head-of-family individuals making up to $46,600
Not one person on the OT would qualify at those incomes.
re: Mississippi may eliminate state income taxPosted by member12 on 2/24/21 at 10:15 am to MorbidTheClown
on 2/24/21 at 10:15 am to MorbidTheClownSecretly the best state in the south......
Too bad Ole Miss is there.
Too bad Ole Miss is there.
re: Mississippi may eliminate state income taxPosted by Travis Scott 
on 2/24/21 at 10:15 am to member12
on 2/24/21 at 10:15 am to member12quote:
Individuals making up to $47,700
That’s not enough
It should be $147,700
re: Mississippi may eliminate state income taxPosted by CatfishJohn on 2/24/21 at 10:15 am to member12
on 2/24/21 at 10:15 am to member12Legalize medical marijuana and eliminate state income tax.
Mississippi about to have a slight boom in their economy.
Mississippi about to have a slight boom in their economy.
re: Mississippi may eliminate state income taxPosted by member12 on 2/24/21 at 10:16 am to tgrbaitn08
on 2/24/21 at 10:16 am to tgrbaitn08quote:
Not one person on the OT would qualify at those incomes.
I mean, I know people don't read the linked articles. But it explains the phase out plans in the next sentence.
re: Mississippi may eliminate state income taxPosted by NawlinsTiger9 
on 2/24/21 at 10:16 am to member12
on 2/24/21 at 10:16 am to member12Don’t worry. If it is a remotely positive idea that would help the state, rest assured, Mississippi will find a way to frick it up.
re: Mississippi may eliminate state income taxPosted by tgrbaitn08 on 2/24/21 at 10:16 am to member12
on 2/24/21 at 10:16 am to member12quote:
I mean, I know people don't read the linked articles. But it explains the phase out plans in the next sentence.
Fair enough
re: Mississippi may eliminate state income taxPosted by CatfishJohn on 2/24/21 at 10:16 am to tgrbaitn08
on 2/24/21 at 10:16 am to tgrbaitn08quote:
Not one person on the OT would qualify at those incomes.
They are phasing it out starting with lower income brackets.
re: Mississippi may eliminate state income taxPosted by tgrbaitn08 on 2/24/21 at 10:17 am to CatfishJohn
on 2/24/21 at 10:17 am to CatfishJohnquote:
To make up for the income tax reductions, the bill proposes:
Increasing the sales tax on most goods to 9.5%, up from 7%.
Increasing liquor sales tax to 9.5%, up from 7%
Adjusting farm equipment sales tax: a 4% tax, including for equipment used for logging, up from 1.5%
Sales taxes on cars, trucks planes and mobile homes would increase to 5.5%, up from 3%
Sales taxes on manufacturing machinery would increase to 4%, up from 1.5%
re: Mississippi may eliminate state income taxPosted by crap4brain on 2/24/21 at 10:17 am to member12
on 2/24/21 at 10:17 am to member12quote:
As if Texas wasn't drawing enough of Louisiana's talent
Those numbers won't draw any "talent" except maybe Popeyes workers.
re: Mississippi may eliminate state income taxPosted by CatfishJohn on 2/24/21 at 10:18 am to NawlinsTiger9
on 2/24/21 at 10:18 am to NawlinsTiger9quote:
Don’t worry. If it is a remotely positive idea that would help the state, rest assured, Mississippi will find a way to frick it up.
You're talking to primarily Louisianians. We will see your frick ups and raise you all in.
re: Mississippi may eliminate state income taxPosted by MorbidTheClown on 2/24/21 at 10:18 am to crap4brain
on 2/24/21 at 10:18 am to crap4brainquote:
Those numbers won't draw any "talent" except maybe Popeyes workers.
net win for La. ?
re: Mississippi may eliminate state income taxPosted by dewster on 2/24/21 at 10:19 am to crap4brain
on 2/24/21 at 10:19 am to crap4brainquote:
Those numbers won't draw any "talent" except maybe Popeyes workers.
It's the start of a phase out approach, chief. It's even in the quote in the OP if you'd read it.
re: Mississippi may eliminate state income taxPosted by CatfishJohn on 2/24/21 at 10:19 am to tgrbaitn08
on 2/24/21 at 10:19 am to tgrbaitn08quote:
To make up for the income tax reductions, the bill proposes:
Increasing the sales tax on most goods to 9.5%, up from 7%.
Increasing liquor sales tax to 9.5%, up from 7%
Adjusting farm equipment sales tax: a 4% tax, including for equipment used for logging, up from 1.5%
Sales taxes on cars, trucks planes and mobile homes would increase to 5.5%, up from 3%
Sales taxes on manufacturing machinery would increase to 4%, up from 1.5%
Consumption taxes make way more fricking sense than income tax.
re: Mississippi may eliminate state income taxPosted by dewster on 2/24/21 at 10:21 am to CatfishJohn
on 2/24/21 at 10:21 am to CatfishJohnquote:
Consumption taxes make way more fricking sense than income tax.
I agree.
Although it inflicts more relative pain on people that spend a larger % of their income (poor people).
re: Mississippi may eliminate state income taxPosted by WPBTiger 
on 2/24/21 at 10:21 am to tgrbaitn08
on 2/24/21 at 10:21 am to tgrbaitn08quote:
Increasing the sales tax on most goods to 9.5%
I would venture to say this is near the average in Louisiana. Just goes to show you how much the politicians are stealing on top of our 6% state income tax.
re: Mississippi may eliminate state income taxPosted by TigerstuckinMS on 2/24/21 at 10:23 am to member12
on 2/24/21 at 10:23 am to member12Hmm. Might be time to get stuckinMS again.
EDIT: Never fricking mind. TFA says that they're going to start with the lower income blocks of people and then phase in higher incomes every year until the budget department says they are feeling the pain. Then they'll stop.
This is a fricking roundabout way to make the progressive tax structure even more onerous and stick high-earners footing even more of the bill than they do now.
Step 1: Make lower income people exempt from income tax
Step 2: Hit the break-even point and point to the high earners and say "Not you. You get to keep paying."
Step 3: Need more money in the future and raise taxes on the high earners while leaving the low income brackets with their exemption.
Once they have the masses used to not paying income tax, there is NO frickING WAY a politician is going to vote to impose that tax on them again at a later date.
EDIT: Never fricking mind. TFA says that they're going to start with the lower income blocks of people and then phase in higher incomes every year until the budget department says they are feeling the pain. Then they'll stop.
This is a fricking roundabout way to make the progressive tax structure even more onerous and stick high-earners footing even more of the bill than they do now.
Step 1: Make lower income people exempt from income tax
Step 2: Hit the break-even point and point to the high earners and say "Not you. You get to keep paying."
Step 3: Need more money in the future and raise taxes on the high earners while leaving the low income brackets with their exemption.
Once they have the masses used to not paying income tax, there is NO frickING WAY a politician is going to vote to impose that tax on them again at a later date.
This post was edited on 2/24 at 10:31 am
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