Jobs are one of the most important things on people’s minds during this poor economy. There are four significant factors that allow Missouri to outperform other state ecomonies:
I believe the best tax structure is one that is used for collecting taxes instead of manipulating markets. Missouri has a tax code that is laced with loopholes and exemptions. In fact there were more tax credits redeemed in 2011 than revenue collected by the corporate tax. This is a form of mercantilism rather than free markets. Missouri should eliminate these loopholes and create a flat tax which would lower the overall tax rate for everyone in the state.
The state and federal governments have thousands upon thousands of department regulations on businesses. These regulations prohibit businesses from growing and expanding. One way to curb the growth of department regulations is through an automatic ten year sunset (a sunset is when a law is removed after a specified amount of time). Second is to place a more rigorous process before a department can implement new department regulations. A few laws relating to employment law that need to be fixed are, the second injury fund (place it back to its original intent), caps on lawsuits, and ensure workers compensation is low.
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