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Started By
Message
re: MT Survey, Are you for or against keeping the LA state income tax?
Posted on 3/15/13 at 12:45 pm to Doc Fenton
Posted on 3/15/13 at 12:45 pm to Doc Fenton
quote:
The kfizzle85 Rule
I lost my copy of Rules and Regs.
1
Posted on 3/15/13 at 1:07 pm to BRgetthenet
He will set all things right when he returns from his exile to the Food and Drink Board.
Posted on 3/15/13 at 1:31 pm to LSURussian
quote:
LSURussian
just a joke breaux! Remember like the one in the other thread where i actually posted your real email and then deleted it? After you asked NC to remove it?
Posted on 3/15/13 at 1:33 pm to Fat Bastard
I must have missed that....
Posted on 3/17/13 at 2:04 am to BRgetthenet
I'm for getting rid of it only if they don't raise to property tax too much. They would be punishing those of us who own stuff like houses, land, ect......
Unless I miss understood.
shite I already pay over $1000 each year in property tax and without mine and my folks homestead exemptions it would be over $2500 a year.
Unless I miss understood.
shite I already pay over $1000 each year in property tax and without mine and my folks homestead exemptions it would be over $2500 a year.
Posted on 3/17/13 at 10:11 pm to bulldog95
I like the idea of it but worry about what other local taxes will increase afterwards. Also when important services like fire, police, education come up on the ballot for renewal or increase in millage if everyting else is more will people cut local services? If so will property taxes go through the roof?
In principal I am for it, but some of the potential side effects worry me. Either way I am not sure Jindal has the political power to get this through.
In principal I am for it, but some of the potential side effects worry me. Either way I am not sure Jindal has the political power to get this through.
Posted on 3/18/13 at 7:36 am to XanderCrews
quote:Think about sales vs. income taxes in the aftermath of a hurricane. Sales tax receipts should increase as consumption for repairs are made while income tax receipts should decline due to interruption of earning activities by individuals and businesses. So repairs to infrastructure should benefit from conversion to sales tax from income taxes.
Im always in favor of taxing consumption vs earnings.
Posted on 3/18/13 at 12:17 pm to BRgetthenet
quote:
Are you for or against keeping the LA state income tax?
Against, do away with state income tax.
Posted on 3/18/13 at 12:25 pm to BRgetthenet
I am against all taxes. I think this is just some shell game that Bobby J is trying to use to boost his resume.
When people start seeing they now owe sales taxes on services they pay at banks, money managers, advertising, etc... they will probably start wondering why they were for it.
So, if they have their way your money saved could be taxed too. Your overall sales taxes will go up more than just the percentage as Jindal wants to charge it on all sales. Which is not the case now.
When people start seeing they now owe sales taxes on services they pay at banks, money managers, advertising, etc... they will probably start wondering why they were for it.
So, if they have their way your money saved could be taxed too. Your overall sales taxes will go up more than just the percentage as Jindal wants to charge it on all sales. Which is not the case now.
This post was edited on 3/18/13 at 12:29 pm
Posted on 3/18/13 at 5:02 pm to BRgetthenet
In theory I am for eliminating the state income tax, but most states have high property taxes to help stabilize tax revenues. I would anticipate huge fluxuation YoY in revenues if we went exclusivly with a sales tax which could create huge budget holes. Also, I believe peoples spending behavior could change in a negative way. Florida and Texas have property taxes to go along with the sales tax and Floridas business tax is the second largest revenue maker for the state. Jindal is proposing that business income also be included in the exemption along with the franchise fee tax.
The way our property taxes are set up makes Louisiana very different from all the other states with an income tax exemption. I would love to do what Jindal is proposing but Im not sure Louisiana is the proper model for this plan. What happens if we continue to have these huge budget deficits and the sales tax does not work as planned? How else do we make up for the revenue loss besides cutting spending?
The way our property taxes are set up makes Louisiana very different from all the other states with an income tax exemption. I would love to do what Jindal is proposing but Im not sure Louisiana is the proper model for this plan. What happens if we continue to have these huge budget deficits and the sales tax does not work as planned? How else do we make up for the revenue loss besides cutting spending?
This post was edited on 3/19/13 at 7:02 am
Posted on 3/18/13 at 8:27 pm to BRgetthenet
take away income tax
add sales tax
add sales tax
Posted on 3/18/13 at 9:42 pm to jimbeam
Posted on 3/19/13 at 12:28 am to lsu13lsu
Why not increase the sales tax moderately and eliminate taxes on corporate income/ business franchise fees?
The state would keep 2.4 billion in income taxes and Jindal could still lower the rate on personal income taxes if he wanted because now he would have some wiggle room. This way we are talking about 1.2 billion in extra revenue added to the budget. Then Jindal could cut personal income taxes in half. It just seems more sensible to me because you don't want to strictly depend on sales tax for revenue.
Im even wondering if the state couldn't work out some sort of state income tax that fluctuates with the sales tax revenue?
The state would keep 2.4 billion in income taxes and Jindal could still lower the rate on personal income taxes if he wanted because now he would have some wiggle room. This way we are talking about 1.2 billion in extra revenue added to the budget. Then Jindal could cut personal income taxes in half. It just seems more sensible to me because you don't want to strictly depend on sales tax for revenue.
Im even wondering if the state couldn't work out some sort of state income tax that fluctuates with the sales tax revenue?
This post was edited on 3/19/13 at 10:07 am
Posted on 3/19/13 at 5:51 am to Interception
In my case, keep it. I see somewere they will hit landowners hard to make up for lost taxes. Even though people own land, doesn't mean they are rich.
Posted on 3/19/13 at 6:54 am to fishfighter
quote:
In my case, keep it. I see somewere they will hit landowners hard to make up for lost taxes. Even though people own land, doesn't mean they are rich.
I don't think that's true?
Property taxes are mostly local and we have a homestead exemption of $75,000 built into the state constitution. Basically property taxes are off limits.
Posted on 3/19/13 at 9:24 am to Interception
quote:
Are you for or against keeping the LA state income tax?
For it! LA receives more federal income $'s then most states(ss, welfare,etc). Most of that income, is tax free.
This is a great way to incentivize hard working people(keep your money), and broaden the tax base by finally taxing people who are non participators (black market, deadbeats) in the real economy.
Posted on 3/19/13 at 9:25 am to Interception
(no message)
This post was edited on 12/21/21 at 9:39 am
Posted on 3/19/13 at 10:50 pm to BRgetthenet
Income tax gonnnnne.
Posted on 3/19/13 at 11:19 pm to BRgetthenet
I am against taxes on any income, property, or food.
However it depends on what the trade-off will be.
Dropping income tax to raise sales tax an extra 10% might not be a good idea.
However it depends on what the trade-off will be.
Dropping income tax to raise sales tax an extra 10% might not be a good idea.
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