Personal Taxes

West Virginia Governor Jim Justice Promotes Revenue Tax Abolition Plan: “Unimaginable Alternative”

Republican Jim Justice has incriminated the “reopening” movement, which is gaining momentum across the country.

EXCLUSIVE: West Virginia Governor Jim Justice advocates his proposal to abolish income tax, telling FOX Business that it is “an incredible opportunity” to transform the state and make all Western Virgins “cash positive”.

In an exclusive interview with FOX Business, Justice said the state had “adjusted from an economic point of view and from the perspective of the chances of getting rid of our personal income tax”.

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“We’re ready,” Justice told FOX Business. “We have a strong economy, the state is on the right side, and that takes us to an incredible level.”

Earlier this month, Justice first put forward its proposal to cut state income tax by 60% for the first year, leading to a possible waiver in about three years.

“We got into it and said how we can make everyone positive – including the people who don’t pay income taxes,” Justice said. “So we gave these people $ 52 million cash discounts so they could pay a little more consumer sales tax … and still have money in their pockets.”

Jim Justice, Governor of West Virginia. (Photo: Reuters) (Reuters)

To pay for the income tax waiver, the state consumer sales tax would be increased from 6.0% to 7.9%, while a small single-item luxury tax would be added for certain high-quality luxury items that cost $ 5,000 or more.

The proposal stipulates that professional services such as legal and accounting services pay the same tax rate as craftsmen such as plumbers and electricians.

The consumer sales tax base would be expanded to include computer hardware and software, legal services, accounting services, other professional services, select advertising, electronic computing, and health and fitness memberships.

Justice said these professional services could also see an increase in business as people outside of the state begin to migrate to West Virginia.

For the first time since 1951, the soft drink tax was also changed. In addition, the taxes on tobacco products, beer, wine and spirits will be changed.

The judiciary’s plan also envisages the introduction of a tiering system for severance taxes on natural gas, oil and coal so that these companies throw a little more into the collecting plate in good times and the state increases and lowers the severance tax in order to save their critical jobs to be protected.

But Justice says the plan would benefit all West Virginians. Under the plan, lower-income West Virgins earning less than $ 35,000 a year would receive a tax refund check, while low- and high-income taxpayers would also see positive net income.

According to the governor’s office, the median household income in West Virginia is $ 46,711, which means most families would take home $ 500 to 799 more annually under the plan. Families earning $ 70,000 to $ 80,000 a year would earn $ 1,159 to $ 1,476 annually from the income tax cut.

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“If you work for someone, we leave your checks the same,” Justice said. “But we’ll send you checks every two months or quarterly.”

Justice said this strategy would help kickstart and boost West Virginia’s economy.

“If you get that extra $ 400 or so every few months, there’s a big, big, big chance you’re going to spend it,” he said. “I believe it is the psyche that is present in our whole life.”

“All of a sudden you get an extra $ 20 on your paycheck, you don’t even realize it’s happening,” he said. “But at the same time, you can look forward to receiving a quarterly check for $ 300,400. It’s what we do as humans. “

The judiciary said if the proposal were incorporated into the law by year three, those controls would almost double.

However, the judiciary was cautiously optimistic when asked whether such a plan would be accepted by largely Republican lawmakers.

“That’s the problem. We have a lot of lawmakers who are right, and any kind of change is difficult for anyone,” he said. “When I say I need to raise the gum tax, it always comes down to that I’m not voting for a tax hike. “

He added, “So it’s an educational process.”

The judiciary said that “a little bit of increasing some taxes” would help the state while the consumer could remain “significantly cash positive”.

“The state will be absolutely solid about the health of the state, and as far as the health of the individual goes, we’ve done it so that they remain cash positive.”

However, Justice said if passed the plan would “make small businesses shine like crazy”.

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“Some people will just be sticks in the mud and you can’t move them,” he said. “I’m not the king, but I’ll give all I have, and if it doesn’t get through, be ashamed of her, not me.”

He added, “Because it’s an incredible opportunity.”

While the US population has doubled in the past 70 years, West Virginia is the only state to see a steady decline in population. Given this trend, West Virginia is likely to lose a seat in the US House of Representatives and take back the interests and representation of the West Virgins at the decision-making table.

The judiciary said the plan could help attract people to move to the state, while touting the West Virgins as “such good people who love and appreciate others incredibly”.

“They are craftsmen, belief-based, low-crime, they know the difference between right and wrong,” he said. “We don’t have the problems here that occur in so many different places all over our country. We are welcoming, loving people. “

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The judiciary said the state had “real job opportunities” and encouraged people to “look” to get into the state.

“I don’t mean this as a sales job from a governor’s point of view – I mean it from the bottom of my heart,” Justice said. “Really, I’m a businessman – I’m not a politician. I never want to be a politician. “

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He added, “I will make mistakes, but I will never tell you anything that I knowingly know is definitely not the truth. Not me.”

“I won’t be a typical politician,” he said. “I won’t do that.”

Justice has been governor of West Virginia since 2017.

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