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News Brief

2010-06-01MARYVILLE, MO |  By: Wayman

Thomson on Taxes

A citizen's group is pushing the proposal, which might eventually end up on the ballot for residents to decide.

Representative Mike Thomson is warning, however, that if Missouri drops the income tax it will most likely be substituted for a tax on all services- in addition to the current sales tax.

Thomson also says those tax rates would have to be calculated- most likely up- to make sure there wasn't a massive revenue shortfall.

Thomson says the pros and cons merit more discussion.

But Thomson stresses that 66 percent of state revenue comes from income tax, so if the tax is dropped, it will fundamentally change the way Missouri operates.