×

Warning

JUser: :_load: Unable to load user with ID: 300

Tuesday, 26 April 2011 12:55
Louisiana Budget, Economy Needs Fair Tax Act And Radical Surgery
Written by 

The past few decades have not been kind to Louisiana. While our Southern neighbors have prospered, Louisiana has lost population and industry. While major automobile plants have been built in Mississippi and Alabama, Louisiana has been largely overlooked. The only business announcements have been negative ones as major facilities like Michoud in New Orleans East and Avondale Shipyard in Jefferson Parish prepare to close.
 

The result has been the loss of congressional seats and power on Capitol Hill. With fewer representatives in Congress, Louisiana will have less clout to steer major federal projects to the state. The rich will get richer and Louisiana will fall further behind.

 

A host of other problems grip Louisiana such as high crime, poor roads, inferior public schools, bloated higher education bureaucracy, and rampant political corruption. Throw in an occasional natural and man-made disaster like Hurricane Katrina and it really is tough to recruit businesses and retirees to Louisiana.

 

It is clearly time for radical surgery to the way our state operates. Two bills, filed by State Representative Walker Hines (R-New Orleans) provide just the sort of change that the state needs. Hines has proposed the HB 239 and HB 242, called the Louisiana Fair Tax Act. The bills would eliminate the personal income tax, corporate income tax and corporate franchise tax in the State of Louisiana.

 

If enacted, these bills would put Louisiana in competition with Texas and Florida, which do not have state income taxes. In recent years, both Texas and Florida have prospered gaining population and business, while Louisiana has lost both. In the recent Census report, both states gained congressional seats, while Louisiana lost a seat for the second time in two decades.

 

According to State Representative Hines, the state would not lose revenue by eliminating all of these taxes. Hines calls for the revocation of “hundreds of tax exemptions, exceptions, deductions, and credits,” which account for the “loss of over $4 billion in State revenue in 2010, many of which are antiquated and apply only to special interests.”

 

While many of these tax credits have been successful and have recruited business to the state, such as the movie industry, many other tax exemptions have been issued to powerful political interests. These typical political games have cost Louisiana dearly.

 

Hines believes that the state needs “a simpler, fairer, and more transparent reform to our tax code, which will stimulate new trains of thought in our tax and revenue debate. It's clear that with a $1.6 billion deficit, Louisiana needs to think outside the box and focus on how we do a better job of growing our economy.”

 

Clearly, in recent years, Louisiana’s economy has been stagnant at best. A major overhaul is needed to spur real economic growth. The Louisiana Fair Tax Act would give the state economy the booster shot it desperately needs.



--
Jeff Crouere is a native of New Orleans, LA and he is the host of a Louisiana based program, “Ringside Politics,” which airs at 7:30 p.m. Fri. and 10:00 p.m. Sun. on WLAE-TV 32, a PBS station, and 7 till 11 a.m.weekdays on WGSO 990 AM in New Orleans and the Northshore. For more information, visit his web site at www.ringsidepolitics.com. E-mail him at This email address is being protected from spambots. You need JavaScript enabled to view it..

 

Bayoubuzz Newsletter - Sign Up Below

 


 

 

For Email Newsletters you can trust

 


 

Login to post comments
Powered By JFBConnect
  • Edwards gets Graves challenge on Louisiana flood relief money
  • Gov. Edwards's pugnacious state of union gave wrong Louisiana vision
  • Trump plus 80 days: Jim Brown, Bernie Pinsonat talk US, Louisiana politics
  • Trump should be like Reagan, not like Bush

graves c 3Shades of Katrina?

    Is political partisanship raising its ugly head again in the face of another Louisiana disaster?  Democratic Gov. John Bel Edwards thinks so.

    Edwards got some rough treatment from a congressional committee in Washington, D.C. when he testified before it recently about the state’s response to flood problems.

Read More

jbeWith equal parts pugnaciousness and disingenuousness, Democrat Gov. John Bel Edwards’ highly-politicized 2017 State of the State speech laid out a truly flawed vision for Louisiana going forward.

Read More

jim bernieIs Russia now our enemy, once again?

Did Donald Trump make the right move or was the latest attack, simply some wag the dog?

Read More

Iron nancy reagan 6n 1986, United States President Ronald Reagan authorized military aircraft to unleash a torrent of bombs in Tripoli, Libya to send a strong message to Libyan dictator Muammar Gaddafi. The attack was in response to Gaddafi’s involvement in the terrorist bombing of a Berlin disco that resulted in the death of American soldiers. 

Read More

latter-blum2

Sen. Appel talks budget, economy

TRUMP TALK

Dead Pelican

Optimized-DeadPelican2 1 1