Charleston Gazette-Mail – When Republicans announce their faith in a plan to stimulate the economy, it is wise to tighten the grip on one’s wallet. Read the full op-ed.
Presently, West Virginia’s GOP governor and the party’s legislative supermajority tell us that eliminating our personal income tax will cause 400,000 people in other states to drop what they’re doing and make tracks for West Virginia.
Thus, the heavens will open and our state’s foundering economy will be transformed. All you have to do is cover the resulting 43% hole in state revenue.
To close that gap, Gov. Jim Justice has fixed his eye mainly on upping the sales tax and adding taxes on some professional services. A wealth tax is a possibility, too. But before launching this ship, one might ask whether it will float.
We have a great newsletter, join below: