Missouri's Tax Showdown: Sales vs Income

0:00Missouri's house just greenlit a constitutional amendment by a vote of 95 to 59 handing lawmakers power to hike sales taxes and slap. Taxes on services all aimed at wiping out the state income tax entirely. Over the next five years, this would let them tweak taxes to phase out income taxes step by step, shifting the burden toward what people buy instead of what they earn. Taxes show this hit 60 to 80 percent of folks harder, especially middle income earners, around $65,000 a year, while the top 20 percent making over 300,000 sea cuts. But exact shifts depend on final revenue plans. Pollings not looking great, with only 37.3 percent of likely voters on board and 49.1 percent opposed, as supporters push it to lower businesses and stem out. Migration. More and it'll squeeze low in middle-class wallets since they spend more on everyday goods, so now it's up to voters on August 4th, or November 3rd, depending on the governor's

1:01call, to settle this tax showdown. That's the story for today. Kansas News Today, Driven by AI.