Here are a couple of suggestions regarding our state’s financial problems:
1) Lower the state sales tax 5 percent for a one-year period. This will result in a tremendous burst of retail and commercial sales. Inventories will diminish and have to be restocked. Businesses will require more workers to facilitate the increased consumer demand. Consequently, more sales tax revenues will be generated because of the increased sales volume.
President Reagan lowered the tax rates and tax revenues increased. Unfortunately the deficit continued to expand because expenditures were not curtailed.
2) This state should sell all of its liquor stores and warehouses. Our state government has no business engaging in the booze business.
Neither a state nor a nation can tax itself into prosperity. However, an economy can be stimulated by allowing more people more of a choice as to how they choose to spend their own money.
Roy E. Brown