Rex Sinquefield is better off setting his money on fire than trying to defeat the earnings tax in Kansas City
People like Rex Sinquefield argue that lower taxes put more money in people’s pockets to spend as they see fit.
But when Sinquefield sets such an embarrassing example of how to waste his money, doesn’t he inadvertently defeat his own argument?
Rex Sinquefield spent $2.1 million of his own money as the lone wolf supporter of a campaign to end the earnings tax in Kansas City. For that stack of cash, Sinquefield suffered the latest of many political defeats since he retired from finance and decided throw his money at losing political causes.
Kansas City voters approved a five-year renewal of the one percent tax on the earnings for people who work or live in Kansas City. The measure passed by a 77-23 margin. The earnings tax amounts to $240 million a year for Kansas City and makes up…ah, screw it — everyone knows what the earnings tax does.
Think of all the productive things upon which Sinquefield could spend $2.1 million.
But Sinquefield’s followers still think it’s worth it. The Kansas City Star reported that Woody Cozad, the face of the earnings tax opposition campaign, said this year’s campaign was meant to “raise public awareness” about Kansas City’s tax structure.
Pro tip: Any time you hear someone talking about “raising awareness” about something everyone is already aware of, or “starting a conversation” about something that everyone’s talking about, that’s your first sign that they’re full of baloney.