St. Louis Post-Dispatch: In Rex Sinquefield's Vision, Mom's Generation is Written off

| | Bookmark and Share

The current sales and excise tax burden on somebody who earns about $32,000 in Missouri is a little more than 5 percent of their income, according to the nonpartisan Institute on Taxation and Economic Policy. Meanwhile, the sales tax burden on somebody of Mr. Sinquefield’s income range is less than 1 percent. The opposite is true of income taxes. In other words, Mr. Sinquefield’s economic plans — to get rid of income taxes and replace them, in part, with higher sales taxes, would actually increase the tax burden on somebody like his mother, circa 1959, not decrease it.

Read more