- Cape businessman known for starting NARS dies at 49 (2/23/17)9
- Man shot by police ID'd; witness shares his side of story (2/17/17)31
- MSHP: McLendon shot in side; autopsy refutes witness account (2/19/17)23
- Apparent punch at girls basketball game propels lawmaker into action (2/21/17)4
- Business notebook: Owners ready to roll out the Barrel 131 (2/20/17)6
- Missouri bill would limit transgender school bathroom access (2/22/17)47
- Annual father-daughter dance provides some fun bonding time (2/19/17)1
- SoutheastHEALTH, Washington University School of Medicine announce collaboration (2/24/17)9
- City issues precautionary boil order near Arena Park (2/23/17)
- $22M bond issue would alter Jackson schools (2/22/17)12
Cutting taxes to fuel the economy is a proven economic policy. Done right, tax cuts can spur business investment and create jobs, which in turn can generate more revenue than before the tax cuts.
But when the economy is struggling and governments face huge shortfalls in revenue, cutting taxes becomes a more complex issue.
Missouri lawmakers, early on in the new session of the legislature, have offered more than 40 bills and constitutional amendments to cut taxes. While some of these cuts may be prudent and justified, many of them are efforts to gain favor with voters. Every state representative, half the state senators and the state auditor face elections this fall.
Missouri's spending plans for the current fiscal year have already been cut more than $630 million, and the state budget office says another $200 million may have to be eliminated.
Meanwhile, legislators are proposing tax cuts on guns and bullets, school bus fuel, yoga studios and storm shelters, among the many proposals so far.
Any tax reduction or elimination that can spur the state's economy should be considered, along with sensible cuts in spending. The task for legislators is figuring out which proposals fit the bill.