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States Eyeing Plans to Eliminate Income Tax … But It Will Come At A Cost!
A handful of states are considering plans that would eliminate their state’s income tax in exchange for a higher sales tax! Conservatives believe this could lure businesses and disgruntled citizens away from places like California, Illinois and New York. But critics worry that increasing the sales tax would put even more pressure on the poor and middle class! Tom asks if these sales tax proposals are wise. And would you pick up and move because you heard a state has a lower income tax rate? Have you already done it?