Kudos to Rep Chuck Gray’s comment, “The worst thing you can do, in my view, is to raise taxes.”
Has anyone made a study or considered the number of people living in Wyoming because there is no state income tax?
Such a study would reveal the number of people working in other states living here, the number of retired people who chose to live here, the business owners and workers living here because of the favorable tax climate in Wyoming.
Bobby Jindahl, of Louisiana, who has been trying to eliminate income tax in that state, comments, “States with no income taxes are out performing other states in terms of economic growth and population growth.”
“Cutting the income tax will boost the take-home pay for everyone. It will make the state more attractive than its neighbors, drawing new businesses, creating jobs and sparking an influx of talented workers.” This idea seems to be the current line of thinking in the states of Kansas, Michigan, Nebraska, Ohio and Wisconsin, all of which are considering cutting state income taxes or eliminating them altogether.
Other than Wyoming, 6 other states (Alaska, Florida, Nevada, South Dakota, Texas and Washington) have no state income tax. New Hampshire and Tennessee also pay no state income tax but do pay tax on dividends and income from investments.
The prevailing attitude in these states seems to be, “if you don’t want the state to redistribute income, then you’re probably happy that it doesn’t have an income tax.”
Why is Wyoming even thinking of going the other way? More effort should be made promoting the advantages of living in Wyoming, rather than spending money on studies trying to figure out how to raise taxes.
It would be a pity for the leaders of this state to wake up one morning to hear a mass sucking sound of people leaving this state because of the implementation of a state income tax, and wonder what happened?