What would happen if you no longer had to pay income taxes?
Retired financial executive Rex Sinquefield and economist Art Laffer believe it would lead to economic growth and wealth.
“Sometimes when you lower taxes, you get less money. But sometimes you create enough economic activity to actually get more revenues,” Laffer told “St. Louis on the Air” host Don Marsh on Tuesday. “If you start lowering taxes from very high levels, you can actually sometimes actually increase revenues. Not all the time, but sometimes that happens.”
Wealthy financier Rex Sinquefield appears to have made his choice for Missouri’s next lieutenant governor: Bev Randles, chairman of the Missouri Club for Growth.
Sinquefield is backing up his support with a $1 million check into Randles’ newly created exploratory committee, set up Monday. Randles says she will spend months talking to fellow Republicans to decide whether she has adequate support for a 2016 campaign.
Former Missouri House Speaker Catherine Hanaway got $750,000 this week from wealthy financier Rex Sinquefield for her 2016 campaign for governor. That’s more than 10 times what she raised during the past three months.
That huge donation was condemned late Wednesday by her potential rival, state Auditor Tom Schweich, a fellow Republican. His campaign accused Hanaway of being “dependent on one man and his self-proclaimed ‘political army.’ “
Wealthy financier Rex Sinquefield, Missouri’s top political donor, is giving $2.5 million to Grow Missouri – a prominent conservative political action committee – to help bankroll its campaign efforts this fall.
Those efforts will include helping the next speaker of the Missouri House, state Rep. John Diehl of Town and Country, as well as other Republicans running for several key legislative contests in the St. Louis area.