Mississippi Eliminates the Income Tax
Armstrong Economics ^ | 24 Mar 25 | Martin Arm
Posted on 03/24/2025 7:30:35 AM PDT by delta7
Good news for the people of Mississippi—lawmakers have finally removed the state income tax. Mississippi is now joins Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Washington, Texas, and Wyoming in eliminating this excessive and predatory taxation practice.
The first income tax was created in 1861 during the Civil War as a mechanism to finance the war effort. In addition, Congress passed the Internal Revenue Act in 1862, which created the Bureau of Internal Revenue, an eventual predecessor to the IRS. The Bureau of Internal Revenue placed excise taxes on everything from tobacco to jewelry. However, the income tax did not last and was not renewed in 1872. In the Springer v. United States 102 US 586 (1881), the Supreme Court upheld the income tax.
The origin of the current income tax on individuals is generally cited as the passage of the 16th Amendment, passed by Congress on July 2, 1909, and ratified February 3, 1913. It was on June 16, 1909, President William Howard Taft, in an address to the Sixty-first Congress, proposed a two percent federal income tax on corporations by way of an excise tax and a constitutional amendment to allow the previously enacted income tax.
Once this Marxist concept of direct taxation was created, then the government must know everything we do, track us for it assumes we all cheat and lie, and in the process, it is hunting money globally to the point that world economic growth has been declining.
Those against Mississippi eliminating the income tax are proponents of big government. They are concerned that the lost revenue will hurt the public sector and low-income residents will be disproportionately burdened as other taxes are likely to rise. Yet, eliminating the income tax will directly lead to Mississippians receiving a larger take-home pay. Businesses, especially small businesses, end up taking on this tax as is passed through from entities to the individual owner who is unable reinvest those funds into his or her company. Businesses will now have the ability to become more competitive and attract a more desirable workforce.
The state has until 2037 to determine how to manage its budget without robbing its citizens and punishing workers. Income tax will fall from 4% to 3% in 2027 and then will see a 0.3% reduction until it is eliminated entirely.
Income tax is a relic of failed economic policies that governments refuse to abandon because it gives them direct control over the wealth of the people. When you tax income, you reduce incentives to work, invest, and innovate.
Governments use the tax as a reason to continue perpetual spending that always leads to deficits. States do not need this tax to function. States need to operate within their means to function without punishing the people for fiscal mismanagement.
TOPICS:
KEYWORDS: incometax; mississippi; taxes
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Now if States can eliminate Property Taxes (a tax on unrealized gains), they will see growth beyond imagination.
1 posted on 03/24/2025 7:30:35 AM PDT by delta7
To: delta7
Washington? That one is a surprise.
2 posted on 03/24/2025 7:33:57 AM PDT by iamgalt
To: delta7
They will have to increase the sales tax though.
3 posted on 03/24/2025 7:34:33 AM PDT by nwrep
To: delta7
Wait til they get their property tax bills.
4 posted on 03/24/2025 7:37:53 AM PDT by 03A3 (If we can defund the police, we sure as hell can defund the FBI)
To: delta7
5 posted on 03/24/2025 7:39:19 AM PDT by kiryandil (No one in AZ that voted for Trump voted for Gallego )
To: delta7
Mississippi is not a good example. Poor and the most obese.
**Washington? That one is a surprise.**
Live on the border with Oregon-no sales tax I remember. Cross the border to do one’s shopping.
It would be most ideal to have a national sales tax and no income tax. Poorer people will pay more taxes they haven’t in the past but they’ll have more control of their money. Tariffs and sin taxes like before. The first part is DOGE.
6 posted on 03/24/2025 7:40:16 AM PDT by DIRTYSECRET
To: nwrep
A sales tax is a fair tax, regardless of rate. You have a choice to buy or not buy. It applies equally to all buyers. So everyone feels its effects and can equally bitch to their state representatives about finding the right sales tax rate to meet the states needs and not over charge the tax payers.
Unlike graduated income taxes, which disincentivize work, and even more unlike property taxes, which directly penalize owners but not renters.
7 posted on 03/24/2025 7:40:48 AM PDT by Magnum44 (...against all enemies, foreign and domestic... )
To: kiryandil
IBTG
—————
The TxGator is also very busy on Bitcointalk, the site despises Armstrong as he does not think much of Bitcoin ( or any E money), thus the huge amount of attacks on him.
8 posted on 03/24/2025 7:43:25 AM PDT by delta7
To: delta7
“Now if States can eliminate Property Taxes (a tax on unrealized gains), they will see growth beyond imagination.”
Property taxes are levied by municipalities, no states.
How do you propose funding of those services?
9 posted on 03/24/2025 7:43:39 AM PDT by TexasGator (111/)
To: delta7
That is the problem here in NH.
Eventually seniors on fixed incomes can not afford the property taxes.
Even though we have one of the overall lowest tax burdens.
NH has no income tax.
Sales tax only on rooms and meals.
NH just eliminated the interest and dividends tax for the year 2025.
I bought my 2700 square foot house fourteen years ago for $270K. The taxes were about $8K.
Once in that 14 years they went down.
Every other year they went up.
This year will be the first year they are over $10K.
My auto registrations are now about $300 annually for a 2012 Tacoma, a 2008 Honda CRV, a cargo trailer and a Massey Ferguson tractor.
If I had brand new cars that could easily be over $1000 annually.
I have friends whose real estate taxes are over $15K annually.
If you have a lake front house or ocean front house the taxes are over $25-35K.
So, the people who live in expensive homes and drive brand new autos pay the majority of the taxes.
However, my inlaws who are both in their 80s pay almost $9K on their house they have owned since the 1970s.
To: delta7
Congratulations Mississippi !
11 posted on 03/24/2025 7:45:26 AM PDT by onona
To: Magnum44
“Unlike graduated income taxes, which disincentivize work, and even more unlike property taxes, which directly penalize owners but not renters.”
Renters are paying Property taxes. The owner passes it to them in their monthly rent.
12 posted on 03/24/2025 7:46:21 AM PDT by TexasGator (111/)
To: delta7
Texas rapes us on property taxes.
13 posted on 03/24/2025 7:46:48 AM PDT by youngidiot (Race is irrelevant to everyone except the racists )
To: TexasGator
Yes, of course, but the problem is they dont directly see them. They get angry at the landlords for raising rates, but they will vote for any county/state tax levy or school bond that comes along because they dont see the tax on a bill each year.
14 posted on 03/24/2025 7:51:29 AM PDT by Magnum44 (...against all enemies, foreign and domestic... )
To: woodbutcher1963
Registering a tractor? You drive it on the road much?
To: delta7
"Now if States can eliminate Property Taxes (a tax on unrealized gains), they will see growth beyond imagination."
Subscibe to my site and I will tell you how I managed to reduce my property taxes to zero AND get free room and board!
16 posted on 03/24/2025 7:53:35 AM PDT by TexasGator (111/)
To: youngidiot
Texas rapes us on property taxes.
———————
Hopefully President Trump’s tax policies ( the need to reduce/ abolish them)will filter out to the States.
Just one state that tackles the problem of taxes will result in massive flows into the State, draining those with high taxes. New York a good example, their lost revenue from those fleeing is in the billions.
Go Trump!
17 posted on 03/24/2025 7:56:48 AM PDT by delta7
To: Resolute Conservative
I drive it down to the local fuel station to fill up with diesel.
I also have driven it to the dealer where I bought it about four miles away and to the inlaws house about two miles away.
It costs a whole $26 to register it for 2025. I have a plate but you don’t need to display it. I have it behind the seat in the cab.
Hey, going down hill in 2wD high range I can get it up to 17 mph.
To: youngidiot
I big help would be no property owner older than 65 has to pay property taxes on their primary residence. That would help a lot.
19 posted on 03/24/2025 8:00:27 AM PDT by central_va (I won't be reconstructed and I do not give a damn...)
To: TexasGator
TxGator, I enjoy reading your Bitcointalk forum, their attacks on Armstrong ( and me by screen name) are repeated by your posts.
Your screen name there reveals a very “ interesting “ mindset. Carry on, Soldier!
20 posted on 03/24/2025 8:02:43 AM PDT by delta7
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