"Many states rely on sales tax as their principle source of revenue and do not have a State income tax"
- William L. Jenkins
About this Quote
This quote by William L. Jenkins highlights the reality that numerous states in the United States rely greatly on sales tax as their main source of income. This implies that the government collects a portion of the cost of items and services sold within the state in order to produce earnings. Unlike some states that also have a state earnings tax, these states solely count on sales tax to money their operations and services. This can have both positive and unfavorable impacts, as it can lead to a more steady revenue stream but also possibly burden customers with higher rates. Overall, this quote clarifies the differing approaches of taxation utilized by various states to produce income.
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