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Thu February 24, 2011
Missouri House Committee Backs Income Tax Repeal
KANSAS CITY, Mo. – It's an attractive sounding proposal: no more income tax. --just a simple sales tax of 7 percent, not quite twice the present rate.
But Amy Blouin of the Missouri Budget Project is concerned that a House committee has endorsed a constitutional amendment to do that.
She says it would take a 12 percent sales tax to maintain state services, even if the tax extends to services including medical care... and it would reduce total taxes paid only for the wealthiest 5 percent.
According to Blouin,"95 percent of Missourians would pay more. We could have severe cuts to education, health care and other services."
Since it involves a constitutional amendment, the proposal would have to be passed by the legislature and be approved by Missouri voters.
Petitions for a very similar voter initiative version are also being circulated, reportedly backed by St. Louis millionaire Rex Sinquefield.