Wednesday, May 13, 2020
TKC MUST READ!!! HERE'S HOW TO BEAT KANSAS CITY E-TAX AMID CORONAVIRUS!!!
Kansas City tax fighters and our suburban friends have long despised the earnings tax; especially when it hits interloper middle-class dweebs commuting from the sticks.
To wit and a tragic fact of life for the 12th & Oak budget . . .
CORONAVIRUS LOCKDOWN DEVASTATES THE GREATEST SOURCE OF TAX REVENUE FOR KANSAS CITY!!!
Here's the deal via local number crunchers . . .
More People Working from Home Means Less Earnings Tax Revenue
Accordingly, here's a peek at the loophole that many locals might be too distracted to realize . . .
"With many people working from home and not entering each city for several weeks (or possibly months) due to COVID-19, those revenues may be reduced significantly.
"Certainly, the vast numbers of people simply out of work will hit cities’ earning tax bottom line. But even those who are still working—and doing from homes outside Kansas City and St. Louis—may present a secondary hit to revenue."
Read the post in its entirety for a glimpse at the specifics of this E-Tax turnabout.
Update: This fun little tidbit is a big part of the reason that KCMO might have to slash its budget by almost $300 million and furlough or eliminate hundreds of employees in a “worst case scenario” recession brought on by the coronavirus.
And so, THE CRASH IN REVENUE MEANS THAT SERIOUS BUDGET PROBLEMS NOW CONFRONT KCMO and neither Mayor Lucas nor the City Council have made any real effort to cut back spending.
Developing . . .