In the first episode of The Beverly Hillbillies, Jed Clampett's sister asks how much the oil company is going to pay him for the oil on his property. Jed said, "Twelve dollars." His sister was shocked: "Only twelve dollars?!" Jed replied, "Yeah, but it's some new kind of dollar. I've heard of paper dollars, and I've heard of silver dollars, but these are called mill-ee-yun' dollars." Most politicians at the state and local level seem to think Washington invented a new kind of dollar that doesn't really cost anybody anything. It's called a "fed-er-al" dollar. (more…)

Would you invest in a company that will be bankrupt by the end of the month? What if the government forced you to invest in that company? (more…)

One of the most difficult concepts to grasp in tax policy is that taxes on businesses are not taxes on businesses. The reality is that taxes on businesses require higher prices for consumers, since the taxes become another cost of doing business, just like paying rent or insurance or employees. (more…)

There are now two commissions considering reforms to the state tax code. One was appointed by the governor, and the other was created by the House Ways & Means Committee. Whatever plans come out of either of these groups, they should be guided by some key principles. (more…)

The commission appointed by Governor Barbour to study the state tax code has begun meeting. The governor wants the commission to look at the total tax burden experienced by Mississippians, including federal and local taxes, to determine what changes need to be made in the state tax code so that the overall tax burden is not detrimental to job creation and growth. (more…)

A prominent Mississippi businessman is asking the taxpayers of Mississippi to give him 17 million dollars to help his company. He told a Senate committee that the reason he was asking for the money was because the legislature had provided millions of dollars to other companies, and since he had been in business 43 years and had never asked the legislature for anything, he wanted them to give him some money, too. (more…)

When Congress or the state legislature decides to take money from you through taxes, they are presuming that they know better how to spend that money than you do, or that what they want to spend your money on is more important than what you would spend it on. (more…)

There has been much talk lately in Washington and in Jackson about raising the minimum wage for hourly employees. It's one thing for governments to require a minimum wage for government employees. But it's quite another for governments to tell private businesses how much they can pay their own, private employees. (more…)

This fiscal year, the state of Mississippi will spend about 14.3 billion dollars. That's about $19,000 per family of four. The number you'll hear about most is $4 billion, but that's only what's known as the General Fund. There's another $4 billion that comes from gasoline taxes, fees, and other funds collected in the state. Then there's about $6 billion that will come from the federal government for state programs, not counting the billions spent on hurricane recovery and rebuilding. (more…)