Cutting Corporate Taxes

1 decade 3 years 4 months ago Thursday, December 22 2005 Dec 22, 2005 Thursday, December 22, 2005 5:40:55 PM CST December 22, 2005 in News

But, those taxes pay for many statewide programs. So, if the state cuts corporate taxes, those programs also get cut. Higher education and medicaid are two of these programs.

"In terms of healthcare, of course 100,000 folks in Missouri have been cut off Medicaid, and now continue to try to find some sort of access to healthcare," said Diana Moore of the Missouri Association for Social Welfare.

Some groups say cutting those programs also hurt the state's economy.

"Comparing states that spent more and have a higher quality program, and they devote more resources to their environmental protection programs in the state, and yes it does cost more than states that might not have such a good program," said Roy Hengerson of the Missouri Sierra Club. "But they find, typically, those states also have the best economies." 

Groups like the Sierra Club and the Missouri Association for Social Welfare say that it is not low corporate taxe that attract new businesses to missouri. It's well-educated people and a clean environment.Missouri is the seventh-lowest in corporate income taxes. And, associated industries of missouri will push for even lower corporate taxes in the next legislative sessionMissouri corporate income taxes fell by 59 percent from 19-93 to 20-05.

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