- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Three things JBE could do to reduce deficit without all his new taxes & without cutting--
Posted on 4/7/17 at 4:44 pm to BigJim
Posted on 4/7/17 at 4:44 pm to BigJim
quote:
So should state employees pay taxes? With your logic they shouldn't pay taxes
No, they should pay taxes, they should pay property taxes, sales taxes, and Federal income taxes, among other taxes, just not state income tax on state income. I just think it's kind of ridiculous for the state to give you ten dollars, and then pull back a couple. Just give them the money, it's state tax money anyway. I happen to think the same about SS tax. Do you have to pay FICA on SS income?
quote:
...they should just lower their pay!
That's not "my logic", I'm pretty sure that's what I said to do.
quote:
Public retirees get a tax break equal to the what the people in SS get.
I just think that at this point, you shouldn't frick with people that are already in the system. We're not talking about millionaires here, we're talking about teachers, janitors, lunch ladies, secretaries, pretty much low-income workers. If you want to change their compensation, do it up front, not at the end.
1
Posted on 4/7/17 at 6:38 pm to I B Freeman
Sell the state owned hospitals (yes they still are) to the for profits.
they could decrease personnel 50% and have higher quality of service
they could decrease personnel 50% and have higher quality of service
Posted on 4/7/17 at 6:59 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.
Right. This has been a problem for years. I was disappointed that Jindal or Foster didn't try to get that changed.
Posted on 4/7/17 at 7:05 pm to michael corleone
Why should the legislature care about lawsuits? they can change the law.
We already limited the payout of film credits to certain dollar amount once. We still issue them unlimited. There are something like $300 million of them outstanding now. So to say we can't cut the payout to $10 million is crazy. Evidently the statute has no promise to redeem the credits at a particular time. Might be 100 years from now.
Of course all three of the things I propose require legislative approval and JBE's signature.
Everything he proposes does too----idiot.
We already limited the payout of film credits to certain dollar amount once. We still issue them unlimited. There are something like $300 million of them outstanding now. So to say we can't cut the payout to $10 million is crazy. Evidently the statute has no promise to redeem the credits at a particular time. Might be 100 years from now.
Of course all three of the things I propose require legislative approval and JBE's signature.
Everything he proposes does too----idiot.
Posted on 4/7/17 at 7:08 pm to WildTchoupitoulas
Should state contractors not have to pay state income tax? Using your logic should state employees be exempt from income tax on their regular wages? What about the federal pensioners we give a tax free ride? The fed taxes all.
There is no good, moral reason to tax everybody except government employees like we do.
There is no good, moral reason to tax everybody except government employees like we do.
Posted on 4/7/17 at 7:25 pm to I B Freeman
Get rid of homestead exemption
And let me buy all that blighted property at the sheriffs sale in a few years
And let me buy all that blighted property at the sheriffs sale in a few years
Posted on 4/7/17 at 7:29 pm to 90proofprofessional
quote:
End Enterprise Zone: 47M
That's actually one of the best programs the state does. encourages businesses to hire poor people, so they won't be poor anymore.
quote:
End S Corp: 504M
What does this even mean and where is this number coming from? S Corps, pay taxes at the shareholder level.
quote:
End Inventory/Ad Valorem: 210M
I'd be ok with this, but it's a tax increase on business. Do you know what the purpose of this credit is?
quote:
End Fed Income Tax Deduction: 175M
Takes a vote of the people. They tried that in the fall for corps... it failed.
Posted on 4/7/17 at 7:37 pm to jeffsdad
quote:
Sell the state owned hospitals (yes they still are) to the for profits.
There may be one or two hospitals left where the state is still running them, because they could not find anyone to take them over.
But most of them have zero state employees. All the employees work for the company leasing them (LCMC, etc).
They can't sell the hospitals because that would accelerate the debt that's on the hospitals, and they can't sell the hospitals for enough to satisfy the debt.
Posted on 4/7/17 at 7:59 pm to LSUFanHouston
The inventory tax is basically a state subsidy of local government that passes through businesses. We should not tax inventory at all but if we are we adopt the IB Property Tax Plan.
Hold property tax collections still for one year. Eliminate the homestead exemption, the 10 year industrial tax exemption and revamp the timber and ag property tax valuation methods and then allow the millages to adjust. The rates would plummet and many home owners would actually see their tax go down.
Once this is done I would favor ending the inventory tax credits. I would also favor pushing a LOT of state funded things down to the parish and city level---ex. teacher pay--let the parishes tax themselves over the massively larger property tax base they would have and pay the teachers. Also I would insist this transfer from the state to local result in dollar for dollar reductions in state taxes.
Hold property tax collections still for one year. Eliminate the homestead exemption, the 10 year industrial tax exemption and revamp the timber and ag property tax valuation methods and then allow the millages to adjust. The rates would plummet and many home owners would actually see their tax go down.
Once this is done I would favor ending the inventory tax credits. I would also favor pushing a LOT of state funded things down to the parish and city level---ex. teacher pay--let the parishes tax themselves over the massively larger property tax base they would have and pay the teachers. Also I would insist this transfer from the state to local result in dollar for dollar reductions in state taxes.
Posted on 4/7/17 at 10:17 pm to I B Freeman
quote:
Why should the legislature care about lawsuits? they can change the law.
Uhhh.. because the state absolutely would lose. The state cannot promise a tax credit then make it worthless by indefinitely delaying the use of it. The current cap is enough to manage the obligations and keep the lawsuits at bay, but cutting it to the levels you suggest would trigger a class action suit that the state cannot win. And losing that litigation has a massive price tag.
quote:
We already limited the payout of film credits to certain dollar amount once. We still issue them unlimited. There are something like $300 million of them outstanding now. So to say we can't cut the payout to $10 million is crazy. Evidently the statute has no promise to redeem the credits at a particular time. Might be 100 years from now.
According to LDR it is $200 million issued and unclaimed. LED has a pipeline of credits to issue, but i have not seen a number. Based on my knowledge I'd estimate it is in excess of $200 million to be issued.
The proper way to unwind this boondoggle is to change the statute so that applications will not be accepted beginning next fiscal year, and extend the back end cap indefinitely. That way everything that has already been produced gets the credits it is owed. We stop the bleeding, and get rid of a wasteful program.
That said it won't happen. When you explain to legislators the layout and how long you have before you get to savings they lose interest. They think in one budget cycles, and don't care about on term fixes.
Posted on 4/8/17 at 8:06 am to LSUFanHouston
Lots of questions. I don't like how the quote function takes up so much space, so I'm going to have your quotes in bold/ital.
What does this even mean and where is this number coming from? S Corps, pay taxes at the shareholder level.
Surprised no one really asked either of these questions for this long. The numbers all come from the Dept of Revenue's Tax Exemption Budget, which simply tallies and reports filings for every exemption/ exclusion/ deduction/ credit. Current version is right here under Statistical Pubs right near the top.
All "end S Corp" is supposed to really mean is "treat them like we treat a corporation". The number represents the amount LDR gives up by not doing so. As I said earlier, corp income tax>personal income tax in LA.
Note: the TEB figure is not net of related income tax paid after pass-thru, but the figure also does not include foregone franchise tax. So the total tax loss is probably still overstated for this one. I know- admitting this so easily makes me a bad devil's advocate.
That's actually one of the best programs the state does. encourages businesses to hire poor people, so they won't be poor anymore.
"Encouraging" is not the same as being effective. Considering that it is only one of several programs aimed at corporations, that program is expensive as frick, and it needs to be shown that these people wouldn't be being hired, and these companies wouldn't just be somewhere else in LA, without it. If that were always the case, I'd agree with what you said.
(I was also curious why you spoke up for this one and not Quality Jobs which has the same purpose and is even more expensive?)
I'd be ok with this, but it's a tax increase on business. Do you know what the purpose of this credit is?
I do, and I understand why it exists instead of the tax simply having been repealed. A grotesque creature, created by our whack-arse political system.
The existence of that tax and that credit makes it pretty tough to get a good grip on the actual distribution of burdens in our system. Business advocates like to include the tax in the to whine about overall burden but not net out the credit, and advocates of spending on the poor love to simply point out the size of the credit.
Takes a vote of the people. They tried that in the fall for corps... it failed
But we got around that inventory/ad valorem problem without changing the constitution!
As I mentioned before, my point isn't that I actually want to do these things, or want to do them first. Really I just wanted to snarkily offer some added perspective on OP's numbers regarding certain giveaways. There's a lot more giving away going on than we want to acknowledge.
Homestead is another one. I know people will say "but 90proof that's a local tax!", but that exemption pretty much ensures two things: local sales taxes will stay relatively high, and the state will have to keep sending billions every year to locals for schools via MFP and whatever else.
What does this even mean and where is this number coming from? S Corps, pay taxes at the shareholder level.
Surprised no one really asked either of these questions for this long. The numbers all come from the Dept of Revenue's Tax Exemption Budget, which simply tallies and reports filings for every exemption/ exclusion/ deduction/ credit. Current version is right here under Statistical Pubs right near the top.
All "end S Corp" is supposed to really mean is "treat them like we treat a corporation". The number represents the amount LDR gives up by not doing so. As I said earlier, corp income tax>personal income tax in LA.
Note: the TEB figure is not net of related income tax paid after pass-thru, but the figure also does not include foregone franchise tax. So the total tax loss is probably still overstated for this one. I know- admitting this so easily makes me a bad devil's advocate.
That's actually one of the best programs the state does. encourages businesses to hire poor people, so they won't be poor anymore.
"Encouraging" is not the same as being effective. Considering that it is only one of several programs aimed at corporations, that program is expensive as frick, and it needs to be shown that these people wouldn't be being hired, and these companies wouldn't just be somewhere else in LA, without it. If that were always the case, I'd agree with what you said.
(I was also curious why you spoke up for this one and not Quality Jobs which has the same purpose and is even more expensive?)
I'd be ok with this, but it's a tax increase on business. Do you know what the purpose of this credit is?
I do, and I understand why it exists instead of the tax simply having been repealed. A grotesque creature, created by our whack-arse political system.
The existence of that tax and that credit makes it pretty tough to get a good grip on the actual distribution of burdens in our system. Business advocates like to include the tax in the to whine about overall burden but not net out the credit, and advocates of spending on the poor love to simply point out the size of the credit.
Takes a vote of the people. They tried that in the fall for corps... it failed
But we got around that inventory/ad valorem problem without changing the constitution!
As I mentioned before, my point isn't that I actually want to do these things, or want to do them first. Really I just wanted to snarkily offer some added perspective on OP's numbers regarding certain giveaways. There's a lot more giving away going on than we want to acknowledge.
Homestead is another one. I know people will say "but 90proof that's a local tax!", but that exemption pretty much ensures two things: local sales taxes will stay relatively high, and the state will have to keep sending billions every year to locals for schools via MFP and whatever else.
Posted on 4/8/17 at 9:08 am to WeeWee
quote:
Close 4 public universities ASAP.
Yes kill education like a good Republican
Posted on 4/8/17 at 10:09 am to I B Freeman
There is a super easy way...
Legalize marijuana
Legalize marijuana
Posted on 4/8/17 at 10:10 am to I B Freeman
quote:
I B Freeman
You're ideas suck!
Posted on 4/8/17 at 10:22 am to I B Freeman
Or, here's a crazy thought. We actually make the oil and gas industry pay taxes on something. For two years in a row we have given out more money in tax credits/deductions to industry than we have taken in on taxes. Why not just make them pay some of the taxes that everyone else owes but they get exempted out of, despite them being the most able to pay them.
Posted on 4/8/17 at 11:39 am to WeeWee
You could close every university in this state and still not have nearly enough money. The state provides so little $ to universities at this point, they are close to being able to go private.
Posted on 4/8/17 at 11:42 am to Taxing Tiger
I agree with this completely. Can't understand why there is not a call for a constitution convention so that cuts can be made across all areas of government.
Posted on 4/8/17 at 11:59 am to SaintsnTigers1
Universities kept tuitions low and the state subsidized them to a larger degree. Now with tuition increases coupled with TOPS the state is paying more that way and less directly.
Posted on 4/8/17 at 12:20 pm to WeeWee
quote:
. Close 4 public universities ASAP.
Which 4 do you cut?
Posted on 4/8/17 at 12:26 pm to Ponchy Tiger
Complete waste of time speculating. Not gonna happen (at least under JBE). Makes for good talk though...
This post was edited on 4/8/17 at 12:30 pm
Page 3 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News