An appreciation of all the hard work the Show-Me Institute's interns do.
A message from Rex Sinquefield about how Missouri's income tax causes economic stagnation.
An article about Freakonomics coauthor Steven Levitt's Saint Louis lecture, co-sponsored by SLU and SMI.
A look at the institute's new First Monday lunch meetings.
A feature about Policy Pulse, the Show-Me Institute's new interactive online tool providing real-time access to Missouri government.
A profile of new board member Joe Forshaw.
A look at two new policy studies, about Missouri's public pension systems and the economic issues surrounding private provision of highways, and a new case study analyzing the effects of occupational licensing on the massage therapy industries in Missouri and Kansas.
An outline of policy analyst David Stokes' appearances at a series of forums dealing with transportation funding issues throughout the state.
Government officials may be tempted to raise taxes to make up for the slump in revenue. However, this would certainly make things worse — not only for government, but for families and businesses. A better solution would be to eliminate Missouri’s income tax, replacing it with higher sales taxes, which are subject to less volatility over time.
Payday loans carry extremely high interest rates, leading some Saint Louis officials to seek a regulatory fix limiting new stores. However, the suggested limits would not change the underlying need for emergency funds faced by many without access to traditional forms of credit. Limiting competition would leave them more vulnerable.
Out of all 50 states, Missouri requires licenses for the least number of occupations. This benefits Missouri residents in many ways, but the number of licenses is still too high; many studies document the harm that occupational licensing can do. People should not have to seek the permission of the government before they choose an occupation.
The licensing of occupations in Missouri could be could be costing consumers more for some services, according to a new case study being released by the Show-Me Institute. Although a nationwide survey by the Reason Foundation last year listed Missouri as the state with the fewest statewide occupational licensing requirements, many occupations are still subject to unnecessary restrictions on who may enter the profession. This drives up prices and can, in many cases, spur business owners to locate elsewhere. Show-Me Institute policy analyst David Stokes has expanded on the Reason Foundation’s research with the release of this new case study, “Occupational Licensing of Massage Therapists in Missouri and Kansas,” which focuses in particular on massage therapists.
The licensing of occupations in Missouri could be could be costing consumers more for some services. Although a nationwide survey by the Reason Foundation last year listed Missouri as the state with the fewest statewide occupational licensing requirements, many occupations are still subject to unnecessary restrictions on who may enter the profession. This drives up prices and can, in many cases, spur business owners to locate elsewhere. This case study focuses in particular on massage therapists. It compares the prices of massage therapy in Missouri, which licenses therapists statewide, and Kansas, which doesn’t. It looks at price comparisons in the metropolitan Kansas City market and compares Springfield to Wichita. The study documents how massage therapist licensing in Missouri leads to higher costs for consumers in Springfield, and leads to more businesses locating in on the Kansas side of the state line in Kansas City.
A new Show-Me Institute study considers the benefits of private financing for highway construction and maintenance, and outlines how variable toll rates can lead to lower road congestion during peak usage periods. Considering alternative financing for new highways and bridges is crucial as MoDOT faces a coming budget shortfall.
Privately financed and operated highways are an idea whose time has come, ended, and returned. The idea returns, however, as part of an infinitely more complicated system than that of America’s 19th-century turnpike era. Throughout the 20th century, public expenditures were successfully used to finance, design, and implement the transportation infrastructure that helped to open the United States for its great economic expansion — most famously, the Interstate Highway System. Several factors have brought the private sector back into transportation infrastructure. The economic analysis of these issues is the focus of this study.
The Missouri public pension system currently faces serious long-term financial challenges, according to a new study released by the Show-Me Institute. The study’s author, Richard C. Dreyfuss, an actuary and pension expert, points out that Missouri taxpayers are facing compound problems regarding the state’s ability to manage effectively both defined benefit public pension and retiree medical liabilities. While current payments to retirees are not in jeopardy, the emerging cost patterns to both current and future members and taxpayers will be predicated upon future asset growth and favorable health care cost trends, both of which present significant risks to taxpayers.
The Missouri public pension system currently faces serious long-term financial challenges. Missouri taxpayers are facing compound problems regarding the state’s ability to manage effectively both defined benefit public pension and retiree medical liabilities. While current payments to retirees are not in jeopardy, the emerging cost patterns to both current and future members and taxpayers will be predicated upon future asset growth and favorable health care cost trends, both of which present significant risks to taxpayers.
The Show-Me Institute’s study of judicial selection systems provides a valuable set of data for looking at the issue in one particular way. However, it doesn’t provide a comprehensive treatment of the subject. People seriously considering various judicial selection systems might place any number of factors higher than economic growth.
A look at the Show-Me Institute's new staff members and Columbia facilities.
A message from Joseph Haslag, executive vice president, about development tax credits.
A profile of the Peabody Journal of Education issue devoted to reprinting seven Show-Me Institute studies.
An article about the institute's new economic policy speaker series.
A feature about "Show-Me: Living," an online set of interactive tools that provide practical information about Missouri government.
A look at two new policy studies, about transportation in Missouri and the state's judicial selection plan, and a new case study about the economic impact of the E-10 ethanol mandate.
Although the promised benefits of measures like Proposition M are fairly easy to see, the costs aren’t always as obvious. In assessing whether an expansion of transit infrastructure is worthwhile, voters need to consider not only how much they might use it, but how much it would cost in relation to other potential projects.
Proposition M’s proposed sales tax increase would fund crucial transit operations and expansion, providing for an alternative to the highway system that benefits low-income workers. Widespread use of rail transit offers additional benefits to society, such as reduced gas usage, a clean travel alternative, and healthier lifestyles.
Proposition M would increase the Saint Louis County sales tax to fund transit operations and expansion. However, Metro’s string of broken promises and spending overruns suggest that the revenue from this tax increase would not be wisely spent. Ultimately, this sort of transit tax can be seen as a subsidy to central business districts.
The “Missouri Clean Energy Initiative” requires utilities to produce higher percentages of power through renewable sources. The mandate has obvious visible benefits, but the costs aren’t as easy to see. The initiative gives utilities the incentive to circumvent the spirit of the law while providing an eco-friendly public relations shield.
Proposition 1, if passed, would raise taxes to fund emergency shelters and other social services. A constructive alternative to tax hikes, however, would involve expanding tax credits for those who make contributions to targeted charitable programs. Such tax credits have already seen success in Saint Louis and Kansas City.
A recent Show-Me Institute study found that states using some variant of Missouri’s non-partisan judicial selection plan tend to correlate with an environment more conducive to economic growth. Greene County will soon have the option to adopt the Missouri Plan for its jurisdiction. In the long run, this could well benefit the county’s citizens.
The Show-Me Institute is excited to announce a new ongoing book review contest, targeted to Missouri college students and college-age non-students. The contest is intended to encourage the appraisal and critical exploration of a broad spectrum of the ideas of liberty, and will feature books both classic and current that focus on the economics and philosophy of freedom.
