If you haven't ever lived in the city, chances are that you don't know about the City earnings tax. If you reside in the city limits, you are taxed 1% of your what you make over the year - just for living in the city.
It's really rather ridiculous. It's almost a punishment for choosing to live in the city. While you can argue that you don't have to pay for trash service, and other particulars that county residents do indeed pay for, it still seems silly to me.
The problem with getting rid of the tax? The fact that it generates $140 million in revenue every year. That's a big chunk of budget gone if it is revoked.
Missouri Treasurer Sarah Steelman wants to rid the city of the tax.
I agree with her. The city is competing with the county for residents - and why move into a loft when you can live in Clayton, Webster, or Kirkwood and not have to pay 1% of your earnings every year.
However, I do think that if you are going to revoke the earnings tax, you also have to have a solution for replacing that $140 million.
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