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Started By
Message
1
Posted on 3/17/17 at 8:51 am to tke857
This would be terrible for my business. We have tremendous sales, but our margins are extremely thin.
Posted on 3/17/17 at 8:52 am to LNCHBOX
Looks like I was right, dipshit
Posted on 3/17/17 at 8:53 am to LSURussian
quote:
That should kill any hope of developing a hi-tech start up industry in Louisiana.
Those types of companies don't make a profit for years so taxing their sales will discourage them from establishing their business here.
This proposed tax system is exactly how's it's done in Texas, which has a decent start-up scene. If I'm not mistaken, the first $150,000 of gross receipts are exempt.
I thought y'all wanted our corporate tax to be like Texas? Is that not true any more?
Posted on 3/17/17 at 8:53 am to lsu711
quote:
He should have said...
quote:
the revenue to fund necessary government services
yep
the problem i saw with the special session was that no one was willing to go to the mat for any PARTICULAR spending cuts in any significant amount. the legislators aren't in the budget weeds enough to identify them, and all the lobbyists care about is low taxes
this is a recipe for shortfalls/deficits forever until someone actually steps up and champions specific cuts. until that happens this is just lipservice to spending restraint
Posted on 3/17/17 at 8:57 am to Janky
quote:
Hey stupid, did you even read his post?
Let me break it down for you. I will make it simple so you understand.
Let's say that you are paying $100 in taxes every year.
$35 is income tax, $50 dollars is sales tax, and $15 is property tax.
It sounds like the poster I replied to wants to change it so $0 is income tax, $60 is sales tax and $40 is property tax.
Yall make it sound like this is better and you would be much happier this way.
Posted on 3/17/17 at 8:59 am to iAmBatman
quote:
Looks like I was right, dipshit
Not sure what that has to do with my question to you.
Posted on 3/17/17 at 9:00 am to chryso
quote:
Let me break it down for you. I will make it simple so you understand.
Let's say that you are paying $100 in taxes every year.
$35 is income tax, $50 dollars is sales tax, and $15 is property tax.
It sounds like the poster I replied to wants to change it so $0 is income tax, $60 is sales tax and $40 is property tax.
Yall make it sound like this is better and you would be much happier this way.
The point you are missing is he doesn't want Edwards to do all the new taxes and keep the state income tax. It's really not that hard to figure out.
Posted on 3/17/17 at 9:00 am to iAmBatman
quote:
Looks like I was right, dipshit
You are one miserable SOB aren't you?
Posted on 3/17/17 at 9:00 am to chryso
quote:
Yall make it sound like this is better and you would be much happier this way.
Really what people are saying when they sound like that is "I don't want to pay my income taxes" and no more
Posted on 3/17/17 at 9:01 am to tke857
No
My life is great!!
My life is great!!
Posted on 3/17/17 at 9:05 am to Breesus
Yep, it's only JBE. Your conservatives have nothing to do with this. Hell, the Republicans in the House also have nothing to do with this. Let's go on, the previous administration also had nothing to do with this also. We are going in circles. But if it helps you sleep better, go ahead and be a simpleton.
Posted on 3/17/17 at 9:06 am to chryso
quote:
quote:
Hey stupid, did you even read his post?
Let me break it down for you. I will make it simple so you understand.
Let's say that you are paying $100 in taxes every year.
$35 is income tax, $50 dollars is sales tax, and $15 is property tax.
It sounds like the poster I replied to wants to change it so $0 is income tax, $60 is sales tax and $40 is property tax.
Yall make it sound like this is better and you would be much happier this way.
What the OP wanted to avoid was that $100 becoming $130. He does not care where the $100 comes from, so long as it does not rise.
We see this all of the time. Other states tax "this way" so we can too. But the other states don't tax other things we do. It is a poor justification to levy new taxes.
Posted on 3/17/17 at 9:08 am to chryso
quote:
You people, that's right you people, act like Texans don't pay taxes. Do you know what the property tax is like in Texas? Believe me, the government is gonna get their money. It doesn't matter what you call the tax.
Try reading my whole post next time
quote:
If JBE wants us to pass a tax reform package to make us more like Texas, then someone needs to remind him that Texas doesn't have a state income tax. That's why they have higher property taxes and get taxed on things like cable and internet. I'm all for adding taxes to my TV/internet bill as long as we're eliminating state income tax at the same time.
I know damn well that Texans pay taxes and the state makes up the lack of income tax by having higher/more taxes on other things. My whole point was that JBE is trying to compare LA to TX and trying to justify adding new taxes in LA on cable/internet service "because Texas does it", but he conveniently doesn't mention that TX has taxes on those types of services to make up for not having state income tax.
Posted on 3/17/17 at 9:13 am to chryso
quote:
Let's say that you are paying $100 in taxes every year.
$35 is income tax, $50 dollars is sales tax, and $15 is property tax.
It sounds like the poster I replied to wants to change it so $0 is income tax, $60 is sales tax and $40 is property tax.
You're missing the point. JBE is proposing to add new taxes (and trying to justify it because Texas taxes those things). But he's not proposing removing any existing LA taxes.
So right now I'm paying $100 in taxes ($35 income tax, $50 sales tax, $15 property tax). But JBE is proposing that we add $20 in services tax, so now I'm paying $120 in tax because he's not proposing to reduce/remove any of the currently existing taxes. You get it now?
Posted on 3/17/17 at 9:19 am to Tiger Prawn
quote:
So right now I'm paying $100 in taxes ($35 income tax, $50 sales tax, $15 property tax). But JBE is proposing that we add $20 in services tax, so now I'm paying $120 in tax because he's not proposing to reduce/remove any of the currently existing taxes. You get it now?
JBE is proposing that we replace the current corporate income tax with the gross receipts tax. Basically, you reduce the tax rate and apply it to sales rather than net income.
It's the first sentence in the article:
quote:
Gov. John Bel Edwards wants to dramatically revamp Louisiana’s tax system when the Legislature meets next month by replacing the current corporate tax on income with a corporate tax on sales, according to administration officials.
This post was edited on 3/17/17 at 9:22 am
Posted on 3/17/17 at 9:21 am to chryso
quote:
LOL, Jindal got us in this mess with his one time money budgets.
JBE is using one time money just as Jindal did. Reality is there has been no change.
Reality is post Katrina, the state coffers were full. The economy expanded as federal dollars, insurance dollars, and all the associated activity created a boom of sorts.
Then we returned to normal only to see a major recession on the national scene followed by a big oil downturn. The fact is no matter who was governor, we were in trouble.
The problem is that Jindal failed to react to the big issues, he didn't cut spending, he kept giving away dollars in the name of creating jobs, and we managed to stay about even.
Now JBE has to either cut spending or raise taxes because the state economy is still down. And reality is he isn't doing much cutting, and he is raising taxes a lot. He also added a huge entitlement and that is problematic too.
No one is talking about reforming any of the giveaway programs, and pork barrel giveaways, the only answer is higher and higher taxes. Sure they'll call it "reform" or they'll say its "dedicated" to something we all want, but in the end it will be business as usual.
Posted on 3/17/17 at 9:24 am to cahoots
quote:
Gov. John Bel Edwards wants to dramatically revamp Louisiana’s tax system when the Legislature meets next month by replacing the current corporate tax on income with a corporate tax on sales, according to administration officials.
Question, will that add to the state's revenues?
Will that add to the taxes business pay? Will the businesses then pass the added taxes on to their customers?
These are the pertinent questions and if I had to guess the answers would be;
More state revenues
Yes businesses will pay more taxes
Yes the taxes will be passed on consumers
Posted on 3/17/17 at 9:30 am to Macavity92
quote:
What the OP wanted to avoid was that $100 becoming $130. He does not care where the $100 comes from, so long as it does not rise.
The problem is that Jindal turned that $100 into $90 without any meaningful spending cuts and plugged the gap with one time money that is now gone. My point is that people are blaming the dem for the mess left by the rep.
Posted on 3/17/17 at 9:31 am to cahoots
quote:
JBE is proposing that we replace the current corporate income tax with the gross receipts tax. Basically, you reduce the tax rate and apply it to sales rather than net income
Not talking about the corporate taxes. I don't run a corporation nor am I an accountant, so I honestly don't know shite about the current tax system for corporations.
But I'm quite familiar with the taxes that I pay as an individual. He's proposing to add taxes that affect individuals without reducing/removing any taxes currently in place on individuals...after he's already raised our sales tax to the highest in the country since he took office.
quote:
With that increase, Louisiana has had the highest state and local combined sales tax rate in the nation, at 10 percent. Many of the services that the governor wants to make subject to sales taxes — including cable TV and internet service — are already taxed in neighboring Texas.
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