Latest tax revenue stats make case for income tax elimination

By Mississippi Center for Public Policy
March 8, 2022

New figures show that the amount of revenue that Mississippi state received in February was 31 percent higher than what was expected.  Overall, for this financial year, Mississippi state revenues are a whopping $768 million over what was projected.

With so much extra cash in the state government’s coffers, the argument against eliminating the income tax is looking ridiculous.

Ever since the House passed a bill in favor of income tax elimination, those opposed to income tax elimination have argued that Mississippi cannot afford it.  The danger, we keep being told, is that eliminating the income tax is risky.  We could, they claim, end up like Kansas, a state that eliminated the income tax only to discover that they ran out of money.

The fact that Mississippi now has a massive budget surplus makes such claims look less and less credible.

With such a massive surplus the choice is clear; should we leave the cash surplus in the hands of politicians to spend on their pet projects, or should we allow every Mississippi worker to keep more of their own earnings?

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