Don't Defund Missouri for a Stock Market Tax Fantasy

I stand in firm opposition to SJR95 (Schnelting). While the goal of reducing the tax burden on working families is shared, this proposal is a dangerous fantasy that abandons real governance. It promises a future of no taxes by creating a $2 trillion sovereign wealth fund, a target so astronomically high it is functionally unattainable for generations. To put this in perspective, Missouri's entire current annual state budget is roughly $50 billion. This is not a serious plan for tax reform; it is a political stunt that locks our state's treasury into a century-long gamble on the stock market. This constitutional amendment would irresponsibly tie the state’s fiscal future to the volatile performance of the S&P 500. It mandates investing all proceeds into corporate stocks, prioritizing Wall Street returns over the immediate needs of Missourians for quality public education, healthcare, infrastructure, and social services. It is a direct transfer of public trust into private equity, undermining our democratic ability to direct resources toward the common good. Additionally, the bill imposes severe and permanent restrictions on future generations, prohibiting the reinstatement of critical revenue streams like the progressive income tax even in times of crisis. This rigid restriction would severely limit our ability to respond to emergencies, fund essential programs, and build a more equitable society. It permanently enshrines a policy that prevents us from taxing wealth and capital gains to address inequality. True progress requires bold, immediate investment in people, not a century-long wait for a corporate-funded tax cut. We need fair tax reform now, one where the wealthy and corporations pay their share, not this risky scheme that mortgages our state’s future to the uncertainty of the market while defunding the public sphere. I urge you to reject this resolution.