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At EconLog, I typically catalogue and criticize authorities measures that scale back our freedom and harm our economic system. So it’s good after I can report on a current vote that went the opposite method: a vote to scale back the position of presidency in our economic system.
On Tuesday, April 2, voters in Jackson County, Missouri voted, by 58.1% to 41.% in opposition to extending the three/8 proportion level gross sales tax that has existed for many years. Based on Varad Raigonkar of Purpose, extending the gross sales tax for 40 years would have raised about $2 billion in income over the following 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 might have distributed funds from individuals who pay the gross sales tax to fairly rich group house owners. It’s attainable, after all, that these funds would have triggered 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 p.c of people that pay the present ticket costs are nearly 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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