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At EconLog, I typically catalogue and criticize authorities measures that scale back our freedom and harm our financial system. So it’s good after I can report on a current vote that went the opposite manner: a vote to scale back the function of presidency in our financial system.
On Tuesday, April 2, voters in Jackson County, Missouri voted, by 58.1% to 41.% in opposition to extending the three/8 share level gross sales tax that has existed for many years. In line with Varad Raigonkar of Cause, extending the gross sales tax for 40 years would have raised about $2 billion in income over the subsequent 40 years.
The cash would have gone to renovate the Kansas Metropolis Royals’ baseball stadium and to construct a brand new stadium for the current Tremendous Bowl winners, the Kansas Metropolis Chiefs.
In brief, it will have distributed funds from individuals who pay the gross sales tax to fairly rich workforce homeowners. It’s doable, after all, that these funds would have brought on costs of tickets to be decrease than in any other case as a result of now, with out that tax, the 2 groups might want to elevate cash from keen payers, which could imply increased ticket costs. Even in that case, although, the funds would go to the comparatively rich. A excessive % of people that pay the present ticket costs are virtually definitely comparatively rich.
Thus the title of this publish. A majority of the voters voted in opposition to redistributing wealth upward.
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