In at least four (4) full, type-written pages, please answer the following: (Resources are additional. Though you are free to use whichever format you are most comfortable with, you have to use intext parenthetical citations and be consistent throughout.) The state of Texas has a reputation for being a “low service, low tax” state. In fact, Texas prides itself on levying no state income tax on individuals or businesses. While Texas certainly provides a favorable environment for business, its tax system is often criticized for being too regressive. Evaluate the pros and cons of having no state income tax. Should the Lone Star State start taxing incomes or continue business as usual? While answering this question you should discuss the following:  1) What are the different ways in which states fund their governments? 2) What are the major sources of state revenue in Texas? What are the key advantages and disadvantages associated with adopting this type of policy? 3) What are regressive taxes? And, are regressive taxes a fair way for the state to generate revenue? How does this contrast with a progressive taxation structure? 4) Who are the winners and losers of the way in which Texas generates revenue? 5) Based on what you now know about how different states generate revenue, what do you think would be the most “fair” way for the state of Texas to operate? You are expected to take a side on what the most “fair” way for states to generate revenue is, but only after analyzing and acknowledging others’ perspectives and research on the topic. Your position, and the conclusion you reach, should be a logical consequence of the information you have gathered on the topic. In fact, your responses must include the use of scholarly (peer-reviewed) literature, though you may supplement this with information from the textbook. I suggest you start your research as soon as possible and ensure that you have access to the LSC library databases.