Missouri gubernatorial candidate Sarah Steelman understands that burdensome tax policies inhibit economic growth. Rep. Kenny Hulshof? Not so much:
Steelman would phase out the tax over a five or six year period and work with the cities on solving any temporary shortfall. She also comments that the cities could probably trim some wasteful spending to make up a good part of the shortfall until new economic gains kick in.
Steelman doesn’t specify what alternate revenue sources she has in mind, but says she draws ideas from conservative think-tank The Show Me Institute in St. Louis. MU economics professor Joseph Haslag has done most of their earnings tax research.
In Missouri, the choice is clear. State Treasurer Sarah Steelman is following the lead of the free market Show-Me Institute. Rep. Kenny Hulshof is following the lead of Democratic mayors like St. Louis’ Francis Slay.