The candidates for governor seem to have a common theme, and that is we need more jobs.
But they do not seem to be aware of the fact that more jobs, unless they are producing minerals, just add to our defecits.
There was a good article in the Sunday tribune by Earl Degroot about this subject. He brings out the same issue I have been advocating for the past 30 years— since I was on the legislative revenue committee.
Minerals pay about 70 percent of our taxes, and the general public gets the benefit in the form of low taxes, which leads to a deficit.
The solution of course is more taxes, but where. The only two sources currently available would be sales tax or property tax. We need to think about an income tax.
Because of the constitutional amendment introduced by Nels Smith, property and sales taxes are a credit against any income tax. This means that most incomes below about $75,000 would be exempt.
We do have a lot of high income people in Jackson, Cody and Sheridan who bring little into the state, but reap considerable rewards.
We should also be taxing business. We lose money because out-of-state businesses transfer their income to their home state, and probably pay tax there on money they earn here.