An effort is underway in the Senate to create a state income flat tax. Senator Michael Gibbons of St. Louis sponsors the bill that would create the flat tax. He says what he is proposing would have taxpayers pay a flat rate – regardless of income – with no deductions which are designed to socially engineer. Gibbons’ proposal calls for the first 10-thousand dollars per taxpayer to be exempt from taxation. After that, all income would be taxed at a flat rate of 4-percent.
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