What would the economic impact be if RI had a 0.0% sales tax?
In January of 2013, Massachusett’s Governor, Deval Patrick, proposed cutting the Bay State sales tax from 6.5% to 4.5%. While the idea never gained traction, this potential devastating blow to Rhode Island’s already fragile economy spurred a renewed debate about the sales tax in the Ocean State.
All Rhode Islanders hope to support themselves and their families; and they expect their government to foster an environment where there are enough good-paying job opportunities so that they can choose which is best to provide for their current and long-term security.
Unfortunately, many hard-working Rhode Islanders have given up that hope.
Poor pubic policy decisions over the decades have steadily eroded the Ocean State’s economy, driving people, businesses, and jobs away, while those fortunate enough to have a job have seen their disposable incomes and quality of life drastically reduced via one of the nation’s highest state and local tax burdens.
Consider Interstate I-95. Can you see the U-Haul trucks packed with the personal belongings of Rhode Island families who are leaving Rhode Island, forced to look for a better life in another state?
Now imagine I-95 with jammed with 18-wheelers and family cars with luggage tied to the roof heading INTO Rhode Island, bringing new businesses and big construction projects, new retail and service jobs, and most importantly a new sense of optimism for the state.
Can this vision of renewal actually be achieved in the Ocean State? Yes; but we have to more than just hope for change. Citizens and taxpayers must demand that their government take the necessary proactive, pro-growth steps.
75-38-400 or 68-0.0-5000 ?
In our current, corrupt operational system, Rhode Island is frozen in the tax-and-spend mode promoted by special interest groups. A HARD REBOOT IS REQUIRED. This system must be wiped clean and replaced with a new, pro-business operating platform. Economic growth, jobs, and renewed opportunity will follow.
The high taxes imposed to sustain the massive entitlement and redistribution programs in Rhode Island are a virus to our economy … infections that corrupt the productive flow of capital and that delete many of the incentives necessary for robust, free-market productivity. Like your computer, these viruses must be purged to restore performance.
The “retail sales tax” is one of the most malicious viruses infecting the Rhode Island economy. Removing it is one of the most immediate and effective ways to restore vitality to the state’s economy.
A Zero.Zero% sales tax would provide the following benefits:
Hundreds of millions of dollars would be put back into the state economy
Tens of thousands of jobs would be created
Municipalities would collectively realize a windfall of tens or hundreds of millions of dollars
Gross Domestic (State) Product would increase by “Billions” of dollars
State population, and the state tax base, will be increased by thousands of people
State Revenue losses would be less than static expectations, due to the positive and “dynamic” economic impact that would be realized
What this means is that once again YOU CAN BE IN CHARGE OF YOUR LIFE:
Imagine a feeling of true job security knowing that job opportunities are on the rise
Consider how would you spend increased disposable income as a result of a better job?
Enjoy new-found quality time to spend with your family and with your friends