Income tax v sales tax - Page 4 - TigerDroppings.com

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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6384 posts

re: Income tax v sales tax


quote:

You are vastly overestimating LA industry compared to other states. We really havent done that much in the past few years


This has been going on now for decades.

Drive up and down the river and all that industry isn't taxed like you think it is.

If it were, we would be flush. As it is now, we are struggling.






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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

I bet you most current property tax payers total tax would go down without the homestead exemption if the revenue was held constant when the exemption was eliminated.

Obviously not for those who have property valued close to $75k. They werent paying taxes (or not much) and now they are. Homestead gives an incentive for potential homeowners that are currently renters. Home ownership should be encouraged. Not really understanding your argument against homestead.






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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6732 posts

re: Income tax v sales tax


quote:

They hire a ton of employees who spend that money

They actually don't compared to the size of the investment. They're capital intensive, not labor intensive. Often an exemption will be granted for hundreds of millions of dollars that creates ten jobs.






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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

They actually don't compared to the size of the investment. They're capital intensive, not labor intensive. Often an exemption will be granted for hundreds of millions of dollars that creates ten jobs.

You are forgetting that without these expemtions, these companies would just simply go to another state that does offer these exemptions. So then you dont have any of that value added to the economy from these companies. Thats the whole point of tax exemptions.






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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6384 posts

re: Income tax v sales tax


quote:

You are forgetting that without these expemtions, these companies would just simply go to another state that does offer these exemptions. So then you dont have any of that value added to the economy from these companies. Thats the whole point of tax exemptions.


That's what they want you to believe, but La. has some natural advantages that other states do not have.

I think we undersell ourselves and have done it for so long that we are not on the cutting edge and depend soley on the industrial chemical and oil/gas sectors.

These plants need cheap transportation, a lot of water, and cheap energy. At one time we had all of that.







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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

That's what they want you to believe, but La. has some natural advantages that other states do not have.

MS would gladly (and has in the past), give economic incentives to offset any benefit by being in LA.






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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6732 posts

re: Income tax v sales tax


quote:

You are forgetting that without these expemtions, these companies would just simply go to another state that does offer these exemptions. So then you dont have any of that value added to the economy from these companies. Thats the whole point of tax exemptions.


But why do we need property tax exemptions when we're eliminating the income tax? Texas doesn't offer property tax exemptions. They just rely on an overall favorable tax climate. Isn't that what we're trying to achieve also?

BTW, there really aren't that many location options for many of these companies. The infrastructure to support these integrated process facilities exists in only a handful of places in the country. They're not like the footloose cut-and-sew operations that we used to chase after.



This post was edited on 3/21 at 12:20 pm


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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

BTW, there really aren't that many location options for many of these companies.

So youre saying "if you are going to be in LA anyway, you dont get the tax benefits". How is that fair. That strategy does in fact let the govt pick winners and losers.






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I B Freeman
Member since Oct 2009
5487 posts

re: Income tax v sales tax


quote:

Obviously not for those who have property valued close to $75k. They werent paying taxes (or not much) and now they are. Homestead gives an incentive for potential homeowners that are currently renters. Home ownership should be encouraged. Not really understanding your argument against homestead.


I am not arguing for more tax. I am simply saying all property should be taxed if there is going to be a property tax. I doubt it would have much impact on home ownership but it would on property tax elections. If more people paid property tax more would take the time to consider their vote. It really chaps me everybody will vote for a library or a recreation district but most don't pay any or very little property tax.






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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

It really chaps me everybody will vote for a library or a recreation district but most don't pay any or very little property tax.

frick, you dont have any argument from me. I hate that bull shite. Bunch of goddammed renters voting on that shite.

I dont agree with you in the fact that I would have to pay the same or similar tax on investment property that I pay for my home. I just dont believe that is fair. I know it is JMO but that is why Homestead exists and that theory has some merit.






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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6732 posts

re: Income tax v sales tax


quote:

So youre saying "if you are going to be in LA anyway, you dont get the tax benefits".

Well, duh. They're supposed to be incentives to locate here for companies that could just as easily go elsewhere. And if it's true that eliminating the corporate income tax (the part of Jindal's proposal that no one seems to talk about) will serve as an incentive for companies to locate here, why have additional incentives for companies that would locate here anyway? They'll be getting the advantage of the repeal of the corporate income tax; what more could they ask for?






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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

They're supposed to be incentives to locate here for companies that could just as easily go elsewhere

How would you like for the state to determine that?






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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6384 posts

re: Income tax v sales tax


quote:

MS would gladly (and has in the past), give economic incentives to offset any benefit by being in LA.


I think we compete very well with Mississippi.

Ports, transportation, cheap energy, water, etc.

We are doing really well.






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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6384 posts

re: Income tax v sales tax


quote:

BTW, there really aren't that many location options for many of these companies. The infrastructure to support these integrated process facilities exists in only a handful of places in the country. They're not like the footloose cut-and-sew operations that we used to chase after


+1






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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6384 posts

re: Income tax v sales tax


quote:

I am not arguing for more tax. I am simply saying all property should be taxed if there is going to be a property tax. I doubt it would have much impact on home ownership but it would on property tax elections. If more people paid property tax more would take the time to consider their vote. It really chaps me everybody will vote for a library or a recreation district but most don't pay any or very little property tax.


+1






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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

I think we compete very well with Mississippi.

In recent history:
We lost out on Nissan, Toyota, and Thysenkrupp(sp) (I know it went to Alabama but MS helped make that deal happen with extra potential incentives.) because of MS government incentives.






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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6384 posts

re: Income tax v sales tax


quote:

I dont agree with you in the fact that I would have to pay the same or similar tax on investment property that I pay for my home. I just dont believe that is fair. I know it is JMO but that is why Homestead exists and that theory has some merit.


I agree, and I do think there's aplace for a homestead exemption; but I do think everyone should pay a little, then let the exemption kick in and then get phased out on higher end homes.

BTW, renters pay taxes too. No landlord I know doesn't calculate his expenses before setting the rent.







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Layabout
UNO Fan
Baton Rouge
Member since Jul 2011
6732 posts

re: Income tax v sales tax


How determine it? A bidding war against other states or towns for jobs is a calculation that ought to be made on a case-by-case basis. And a few grownups ought to be involved in it so we don't wind up paying $50 million for a chicken plucking plant or giving the film industry a blank check against the state treasury.





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Bear Is Dead
LSU Fan
Monroe
Member since Nov 2007
3600 posts

re: Income tax v sales tax


quote:

renters pay taxes too. No landlord I know doesn't calculate his expenses before setting the rent.

They dont know that shite.






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doubleb
LSU Fan
Baton Rouge
Member since Aug 2006
6384 posts

re: Income tax v sales tax


quote:

How would you like for the state to determine that?


I don't like the state picking winners and losers.

Look at the movie industry deal. Why just movies?

Why do a deal for Bass Pro and not Walmart? Why do a deal for a develpment in downtown BR and not one at the Mall of La?

Too many times we see the govt. picking winners and losers and often it's to help a few at the expense of many.






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