patrick ishmael's border war presentation

7/29/2019 Patrick Ishmael's Border War Presentation

1/26

BORDER WAR:

The Fight for Missouris Economic Future


2/26

Missouris Economic Track Record


3/26

Missouris Economic Track Record (contd)


4/26

Wealth is Leaving the State

You Can Call Them Buzzards, But That

Makes Missouri The Carcass
http://www.showmedaily.org/2013/09/you-can-call-them-buzzards-but-that-makes-missouri-the-carcass.htmlhttp://www.showmedaily.org/2013/09/you-can-call-them-buzzards-but-that-makes-missouri-the-carcass.htmlhttp://www.showmedaily.org/2013/09/you-can-call-them-buzzards-but-that-makes-missouri-the-carcass.htmlhttp://www.showmedaily.org/2013/09/you-can-call-them-buzzards-but-that-makes-missouri-the-carcass.html


5/26

Regional Job Growth 2000-2010

Part Five: The Smallness Of The

Potentially Hip Core

Data from the Brookings Institution
http://www.showmedaily.org/2013/04/part-five-the-smallness-of-the-potentially-hip-core.htmlhttp://www.showmedaily.org/2013/04/part-five-the-smallness-of-the-potentially-hip-core.htmlhttp://www.showmedaily.org/2013/04/part-five-the-smallness-of-the-potentially-hip-core.htmlhttp://www.showmedaily.org/2013/04/part-five-the-smallness-of-the-potentially-hip-core.html


6/26

Job Growth in the Last Year

The Kansas/Missouri Economic Border

War, In A Graph
http://www.showmedaily.org/2013/07/the-kansasmissouri-economic-border-war-in-a-graph.htmlhttp://www.showmedaily.org/2013/07/the-kansasmissouri-economic-border-war-in-a-graph.htmlhttp://www.showmedaily.org/2013/07/the-kansasmissouri-economic-border-war-in-a-graph.htmlhttp://www.showmedaily.org/2013/07/the-kansasmissouri-economic-border-war-in-a-graph.html


7/26

So What Did Kansas Do?


8/26

Two Rounds of Tax Cuts in Kansas

Associated Press: Conservative Republicans pushed the initial cuts

through last year while acknowledging that the plan was too

aggressive and would need refinement in 2013. Those changes in

the bill signed by Brownback on Thursday include decreasing

income tax deductions over time as overall rates drop, as well asgiving a less generous standard deduction for married couples and

single parents. The top in personal income tax rate [sic] will drop

to 3.9 percent for 2018, down from 4.9 percent, and promises

future rate reductions in years when revenues grow more than 2

percent.Notably, Kansass lowest income tax bracket will also drop, from 3 percent to 2.3 percent. And taken

together with last years cuts, Kansass new cuts put the state on track to return nearly $4 billion to

Kansans over the next five years.

Milkshakes and Handshakes: Brownback

SignsAnotherKansas Tax Cut
http://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.htmlhttp://www.showmedaily.org/2013/06/milkshakes-and-handshakes-brownback-signs-another-kansas-tax-cut.html


9/26

Regarding the Missouris A Low Tax State!

Conventional Wisdom

Income taxes:

Missouri

6% top marginal rate

Including the Kansas City earnings tax, 7%

Kansas

4.9% top marginal rate, 3.9% in 2018

No earnings tax

Non-wage pass-through income taxed at 0%


10/26

The Growth Corridor


11/26

Tax Policy Matters.

A stronger reliance on income taxes seems to be

associated with significantly lower levels of GDP per

capita than the use of taxes on consumption and

property. Within income taxes, those on corporate

income seem to be associated with lower levels of GDP

per capita than personal income taxes. In fact, corporate

income taxes appear to be the least attractive choice

from the perspective of raising GDP per capita.

Arnold, Jens. Do Tax Structures Affect Aggregate Economic Growth? Empirical Evidence From a

Panel of OECD Countries. Organisation for Economic Co-operation and Development, Economics

Department Working Papers No. 643. Oct. 14, 2008.


12/26

The Growth Corridor

Cato Institutes Fiscal Report Card


13/26

The Growth Corridor

Chief Executive magazine Best & Worst States

for Business

Missouri Is 31st For Business Friendliness

In CEO Survey

Speaking of Texas, there is one other thing worth noting about ChiefExecutives survey what the states in the top five have in

common. Three of the top five states Texas (first place), Florida

(second place), and Tennessee (fourth place) do not have an

individual income tax. Indiana (fifth place) just enacted legislation to

cut its income tax; North Carolina (third place) is pushing hard to

reduce its income taxes as well.
http://www.showmedaily.org/2013/05/missouri-is-31st-for-business-friendliness-in-ceo-survey.htmlhttp://www.showmedaily.org/2013/05/missouri-is-31st-for-business-friendliness-in-ceo-survey.htmlhttp://www.showmedaily.org/2013/05/missouri-is-31st-for-business-friendliness-in-ceo-survey.htmlhttp://www.showmedaily.org/2013/05/missouri-is-31st-for-business-friendliness-in-ceo-survey.html


14/26

The Growth Corridor

2013 United States Small Business Friendliness Survey(Kauffman Foundation/Thumbtack.com)

Small Business Friendliness Survey:

Kansas Gets A, Missouri Gets C, Illinois

Gets D
http://www.showmedaily.org/2013/04/small-business-friendliness-survey-kansas-gets-a-missouri-gets-c-illinois-gets-d.htmlhttp://www.showmedaily.org/2013/04/small-business-friendliness-survey-kansas-gets-a-missouri-gets-c-illinois-gets-d.htmlhttp://www.showmedaily.org/2013/04/small-business-friendliness-survey-kansas-gets-a-missouri-gets-c-illinois-gets-d.htmlhttp://www.showmedaily.org/2013/04/small-business-friendliness-survey-kansas-gets-a-missouri-gets-c-illinois-gets-d.htmlhttp://www.showmedaily.org/2013/04/small-business-friendliness-survey-kansas-gets-a-missouri-gets-c-illinois-gets-d.htmlhttp://www.showmedaily.org/2013/04/small-business-friendliness-survey-kansas-gets-a-missouri-gets-c-illinois-gets-d.html


15/26

The Growth Corridor

CNBC Top States for Business 2013

In Case There Were Any Doubts About The

Growth Corridor Were In, Heres Another

Data Point
http://www.showmedaily.org/2013/07/in-case-there-were-any-doubts-about-the-growth-corridor-were-in-heres-another-data-point.htmlhttp://www.showmedaily.org/2013/07/in-case-there-were-any-doubts-about-the-growth-corridor-were-in-heres-another-data-point.htmlhttp://www.showmedaily.org/2013/07/in-case-there-were-any-doubts-about-the-growth-corridor-were-in-heres-another-data-point.htmlhttp://www.showmedaily.org/2013/07/in-case-there-were-any-doubts-about-the-growth-corridor-were-in-heres-another-data-point.htmlhttp://www.showmedaily.org/2013/07/in-case-there-were-any-doubts-about-the-growth-corridor-were-in-heres-another-data-point.htmlhttp://www.showmedaily.org/2013/07/in-case-there-were-any-doubts-about-the-growth-corridor-were-in-heres-another-data-point.html


16/26

The Growth Corridor

CNBC Top States for Business 2013


17/26

The Poor Argument for Project-by-Project Tax

Cuts


18/26

Tax Credits in Missouri


19/26

Tax Credits Are Growing

Tax credit redemptions total hundreds of millions of dollars

each year.

There are over $1 billion worth of outstanding credits.

Despite this, tax credits are not subject to appropriations.

$-

$100.00

$200.00

$300.00

$400.00

$500.00

$600.00

$700.00

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010

InMillions

Annual Redemptions


20/26

Historic Preservation Tax Credit


21/26

Historic Preservation Tax Credit


22/26


23/26

Underestimating Cost, Overestimating Return


24/26

Tax Reform


25/26

Milton Friedman on Taxes

I am in favor of cutting taxes under any circumstances and for any

excuse, for any reason, whenever its possible. The reason I am is

because I believe the big problem is not taxes, the big problem is

spending. The question is, How do you hold down government

spending? Government spending now amounts to close to 40% ofnational income not counting indirect spending through regulation

and the like. If you include that, you get up to roughly half. The real

danger we face is that number will creep up and up and up. The

only effective way I think to hold it down, is to hold down the

amount of income the government has. The way to do that is to cuttaxes.

Opposing Tax Cuts, Supporting Bigger

Government, And The Wisdom Of Milton

Friedman
http://www.showmedaily.org/2013/08/opposing-tax-cuts-supporting-bigger-government-and-the-wisdom-of-milton-friedman.htmlhttp://www.showmedaily.org/2013/08/opposing-tax-cuts-supporting-bigger-government-and-the-wisdom-of-milton-friedman.htmlhttp://www.showmedaily.org/2013/08/opposing-tax-cuts-supporting-bigger-government-and-the-wisdom-of-milton-friedman.htmlhttp://www.showmedaily.org/2013/08/opposing-tax-cuts-supporting-bigger-government-and-the-wisdom-of-milton-friedman.htmlhttp://www.showmedaily.org/2013/08/opposing-tax-cuts-supporting-bigger-government-and-the-wisdom-of-milton-friedman.htmlhttp://www.showmedaily.org/2013/08/opposing-tax-cuts-supporting-bigger-government-and-the-wisdom-of-milton-friedman.html


26/26

patrick ishmael's border war presentation

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