HIGHER TAXES GIVE BIG BOOST TO FUNDS GOING TO MISSOURI

There is new meaning for the phrase, "My cup runneth over." The state of Missouri is literally awash in revenue. Unlike any governor in recent times, Mel Carnahan surveys a srevenue situation that is gushing money for the operations of state government and its huge (fiscal 1996: $12.9 billion) budget. Consider:

* Carnahan took office in January 1993. Before the end of his first legislative session four months later, Missourians faced two new and sharply higher taxes. First, there was Senate Bill 380, Gov. Carnahan's education package, with its huge tax increase and its highly dubious reforms. Price tag for working Missourians: $350 million in just the first year. With natural revenue growth in an expanding economy, this number -- like state revenue from nearly all sources -- continues to grow.

* Carnahan's other major tax boost that year came in House Bill 564, a health care initiative. HB 564 imposed new taxes on tobacco products. This one yielded $20.8 million in fiscal 1994 and well over $28 million last year.

* Prior to last year, there was no riverboat gaming in Missouri. In fiscal 1995, state revenue from this activity totalled $52 million. For fiscal 1996, which began July 1, new boats are coming on line. Projected from this revenue source in the current year: $96 million.

From actions taken since Carnahan's election in November 1992, Missourians are looking at nearly a half-billion dollars in higher tax revenue being sent to Jefferson City. This doesn't include the phased-in, six-cent motor fuel tax increase signed into law in 1992 by then-Gov. John Ashcroft, which will be fully phased in next year. When fully in place, the state will be reaping another $150 million for roads and bridges.

Moreover, thanks to conservative justices' being appointed to the U.S. Supreme Court, Missourians can see light at the end of the tunnel on the two most expensive desegregation cases in America. This light is beginning to shine on reductions, in the tens of millions, in the state's obligations to the St. Louis and Kansas City school districts. Hard-pressed Missouri taxpayers who might be looking for relief, however, can look elsewhere, for Gov. Carnahan has already spent these savings. A little-noticed provision of SB 380 commits 100 percent of the coming millions in savings from desegregation to the school foundation formula.

No wonder Gov. Carnahan recently announced that for the first time since voters adopted the Hancock Amendment in 1980, refunds will be owing to over-taxed Missouri taxpayers. How about a tax cut , Governor?