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Three things JBE could do to reduce deficit without all his new taxes & without cutting--
Posted on 4/7/17 at 11:23 am
Posted on 4/7/17 at 11:23 am
1) eliminate payments and issuance of film tax credits--we have already decided we don't have honor them on any particular time schedule so instead of limiting redemptions to $180 million year let's limit them to $10 million--savings $170 million---cost to hardworking Louisiana taxpayers--ZERO
2) eliminated the oil severance tax credits--not as much revenue now as it was few years ago but could be $100 million---cost to hard working Louisiana taxpayers---ZERO
3) tax the government pensioners like the rest of us--on state pensions alone over $4 billion a year is paid out--none taxed. Add in the federal pensions that are not taxed--let's say another billion. If taxed like the common taxpayer's pension let's say the net rate would be 2% so there is another $100 million--cost to hardworking Louisiana taxpayers---ZERO
2) eliminated the oil severance tax credits--not as much revenue now as it was few years ago but could be $100 million---cost to hard working Louisiana taxpayers---ZERO
3) tax the government pensioners like the rest of us--on state pensions alone over $4 billion a year is paid out--none taxed. Add in the federal pensions that are not taxed--let's say another billion. If taxed like the common taxpayer's pension let's say the net rate would be 2% so there is another $100 million--cost to hardworking Louisiana taxpayers---ZERO
This post was edited on 4/7/17 at 11:24 am
16
Posted on 4/7/17 at 11:24 am to I B Freeman
You sure do love for other people to pay more taxes. You are a good democrat.
Posted on 4/7/17 at 11:25 am to I B Freeman
quote:
Three things JBE could do to reduc deficit
1. Cut back on medicaid fraud
2. Scrap the Charity system or modify it to take advantage of the medicaid expansion or whatever the republican healthcare plan eventually is.
3. Close 4 public universities ASAP.
Posted on 4/7/17 at 11:26 am to BBONDS25
quote:
You sure do love for other people to pay more taxes. You are a good democrat.
I prefer these special interest to pay more taxes before I do.
JBE lays in bed at night trying to tax us all while making no mention of eliminating such treatment of special interest.
Posted on 4/7/17 at 11:27 am to WeeWee
I WOULD much prefer cuts--I am simply pointing out the absurdity of JBE's stance that the only choice is his new taxes to maintain revenue--his primary focus.
Posted on 4/7/17 at 11:30 am to I B Freeman
Dumb Bel will never have enough of your money. No politician ever has enough money to spend. It's a law of nature. The more they spend, the more they and their friends make.
Posted on 4/7/17 at 11:33 am to I B Freeman
Also:
End Quality Jobs: 291M
End Enterprise Zone: 47M
End S Corp: 504M
End Inventory/Ad Valorem: 210M
End Fed Income Tax Deduction: 175M
End Quality Jobs: 291M
End Enterprise Zone: 47M
End S Corp: 504M
End Inventory/Ad Valorem: 210M
End Fed Income Tax Deduction: 175M
Posted on 4/7/17 at 11:35 am to 90proofprofessional
quote:
End Fed Income Tax Deduction: 175M
will cost hard working Louisiana taxpayers
Posted on 4/7/17 at 11:36 am to I B Freeman
and all that other stuff will cost others; everyone feels the pain
much more likely that everyone now has a stake in getting spending under control
much more likely that everyone now has a stake in getting spending under control
Posted on 4/7/17 at 11:53 am to I B Freeman
quote:Lawsuit, won't happen.
1) eliminate payments and issuance of film tax credits-
quote:I am down with that.
3) tax the government pensioners like the rest of us
quote:
2) eliminated the oil severance tax credits
Help me out with this. What is this referring to? What would it be listed as in the tax exemption budget and/or statute?
Posted on 4/7/17 at 12:19 pm to 90proofprofessional
End S-Corps? Do you understand what you're saying? That's asinine. S-Corps are flow through entities. Those dollars are already being taxed on the individuals returns.
Eliminating the Fed Inc Tax deduction will impact a large portion of LA citizens. Another terrible idea.
Eliminating the Fed Inc Tax deduction will impact a large portion of LA citizens. Another terrible idea.
Posted on 4/7/17 at 12:25 pm to BigJim
quote:
1) eliminate payments and issuance of film tax credits-
Lawsuit, won't happen
Notice I said to limit them to $10 million a year. We have already limited them to $180 million a year so why can't we limit them further?
quote:
Help me out with this. What is this referring to? What would it be listed as in the tax exemption budget and/or statute?
Is the fracking credit we give drillers---basically we give them exemptions from the severance tax until the entire cost of the well has been recouped
Posted on 4/7/17 at 12:26 pm to I B Freeman
Remove the statutory restrictions on some departments/programs so we can make cuts to more than just healthcare and higher education. You'll never make real progress unless all options are on the table. Without checking, I'd venture to say that 75% of the state's budget is statutorily protected. So we're trying to balance a budget with cuts that only impact 25% of the entire pie. It'll never work.
Posted on 4/7/17 at 12:37 pm to 90proofprofessional
quote:
End Quality Jobs: 291M End Enterprise Zone: 47M End S Corp: 504M End Inventory/Ad Valorem: 210M End Fed Income Tax Deduction: 175M
Posted on 4/7/17 at 12:39 pm to Taxing Tiger
quote:
Remove the statutory restrictions on some departments/programs so we can make cuts to more than just healthcare and higher education. You'll never make real progress unless all options are on the table. Without checking, I'd venture to say that 75% of the state's budget is statutorily protected. So we're trying to balance a budget with cuts that only impact 25% of the entire pie. It'll never work.
Isn't the issue a constitutional one? Meaning, to cut from something other than healthcare and higher ed (generally speaking) we would need to amend the constitution?
Posted on 4/7/17 at 1:01 pm to I B Freeman
quote:
Notice I said to limit them to $10 million a year. We have already limited them to $180 million a year so why can't we limit them further?
And they almost sued then. They held off for political reasons.
quote:
Is the fracking credit we give drillers---basically we give them exemptions from the severance tax until the entire cost of the well has been recouped
Horizontal drilling?
Posted on 4/7/17 at 1:02 pm to Taxing Tiger
quote:
End S-Corps? Do you understand what you're saying? That's asinine. S-Corps are flow through entities. Those dollars are already being taxed on the individuals returns.
Yeah that's not so much a deduction as it is a function of our tax setup.
Eliminating it would be criminal imho.
quote:
Eliminating the Fed Inc Tax deduction will impact a large portion of LA citizens. Another terrible idea.
OK with this if it is used to lower rates.
Posted on 4/7/17 at 1:18 pm to Taxing Tiger
quote:
Do you understand what you're saying? That's asinine. S-Corps are flow through entities. Those dollars are already being taxed on the individuals returns.
well now they wouldn't be.
in la, corp rate>personal rate, and these are corps.
quote:
Eliminating the Fed Inc Tax deduction will impact a large portion of LA citizens. Another terrible idea.
policies are good/bad based on the number of people impacted?
eta: playing devil's advocate here. really i just picked a set of tax carveouts that target a group different than op targeted. point being, this appears to be nothing more than an advocacy thread- definitely not a policy one.
This post was edited on 4/7/17 at 1:20 pm
Posted on 4/7/17 at 1:25 pm to I B Freeman
Cutting the film tax credit saves zero money this year, same as merging higher ed institutions, but could yield huge savings in the future.
Posted on 4/7/17 at 1:29 pm to BigJim
quote:
Horizontal drilling?
Yep. Severance tax suspension on horizontal wells, but the entire Briggs lineage would have to be wiped out before that has a chance in hell.
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