Here in TX, we don't have income tax and I WISH we did, if it meant lower property taxes. Counties are overvaluing property by MASSIVE margins year to year, and you are defenseless against that. There are many people whose mortgages are killing them because the payments go up hundreds of dollars a month per year. The offset, though, is no state income tax and vehicle registration is only about $100 a year. You have much more control over your salary (if you stay employed) and your vehicle (uber everywhere), but you are completely defenseless against property values.The state has a surplus now... Meaning they in effect collected too much tax. So Tate (and others) want to eliminate the income tax so that MS can compete with other surrounding states that don't have one (Texas and I think Tennessee?) for job-producing projects.
So the idea is:
1. Eliminate the income tax (we have had a surplus recently anyway, so it should be a no-brainer)
2. Recruit and heavily incentivize new industrial and tech companies here (made easier by cost of living and theoretically no income tax) to create good-paying jobs. These companies will create ad valorem and maybe sales tax revenue for the state too, which is huge. Golden Triangle, Madison County, the Hattiesburg ADP, and others are already being successful at this - learn what they do and do more of it.
3. Train the current working-age citizenry in trades for the incoming jobs (like Amazon, Nissan, etc. have done) to bring up our workforce. This not only gives more income to Mississippians, but gives the state a good base to show other new companies they can build and hire good people in this state. The state is trying to do this with the Accelerate Mississippi program.
4. Build new schools AND improve the ones we have. High quality education is absolutely essential if we ever want new people to move to the state.
5. Keep building new retail/entertainment/sports/quality of life type amenities so that people enjoy life here and want to stay, and so that people from other states want to move here.
6. The more all this happens, and the more there is light somewhere at the end of a very long tunnel, the less brain drain we will have, which is great. The more success we'll have in moving new people in. And the more opportunities we will have for those young adults to feel it's okay to "move back home" after they spent their 20's living it up in NYC or Nashville. We need all those things to happen.
It's a long long long term plan, but it can work.
It's criminal here in my little blip on the map in Tarrant County. We are in the top 5 for most property taxes in the whole county, which is massive.