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re: Gov. John Bel Edwards wants big changes in how LA biz, individuals taxed
Posted on 3/17/17 at 12:23 pm to KiwiHead
Posted on 3/17/17 at 12:23 pm to KiwiHead
I don't get the opposition from conservatives regarding these tax changes. Consumption taxes are often advocated by conservative think tanks as an alternative to income taxes. And this GRT is being implemented in places like Texas that are considered very business friendly. Overall, this tax plan could pass as the work of a conservative.
Posted on 3/17/17 at 12:35 pm to cahoots
Please tell me that we are changing to the Texas plan where they pay a consumption tax and no income taxes but unfortunately that's not the case.
We will continue to pay 6% on our state income tax plus the impact these taxes will have.
We will continue to pay 6% on our state income tax plus the impact these taxes will have.
Posted on 3/17/17 at 12:45 pm to cahoots
not right to call this a consumption tax when it applies to sales at all points in the supply chain
Posted on 3/17/17 at 12:54 pm to cahoots
Not conservatives, but the Republican business lobby types. Here is the thing, and Louisiana is a prime example. If consumption taxes are the solution, then Louisiana should be in high cotton .....even before Edwards' tax increases which were primarily on the sales tax end....and even before when the state overall had one of the highest sales tax burdens in the country. Louisiana still had a budget shortfall. It had budget shortfalls in the 1980's and 1990's even with high sales taxes....and overall one of the lowest effective income tax rates of any state in the country .
We base so much of the state's revenue on oil and gas....we keep getting burned by it when the price of a barrel craters....we all complain when the state tries to find more revenue beyond that. WE complain that the legislators are stupid for pegging the budget to a certain price on a barrel of oil....but when they go for a more stabilized process like the Stelly Plan was , well we complain about that too.
It's not that we don't want to pay any more in taxes..... overall we don't want to pay ANY taxes and that would be OK if the big businesses would pay taxes instead or we could put high tariffs on imported things....but then we actually believe the said big businesses when they say taxes are too high and that if only we would give them free access roads and 10 year breaks on income(tax credits) and reduced property taxes that all of our problems would be resolved.....then we do that for them, and the problems are not resolved, there is not a traffic jam of good paying industries trying to come to the state.
We base so much of the state's revenue on oil and gas....we keep getting burned by it when the price of a barrel craters....we all complain when the state tries to find more revenue beyond that. WE complain that the legislators are stupid for pegging the budget to a certain price on a barrel of oil....but when they go for a more stabilized process like the Stelly Plan was , well we complain about that too.
It's not that we don't want to pay any more in taxes..... overall we don't want to pay ANY taxes and that would be OK if the big businesses would pay taxes instead or we could put high tariffs on imported things....but then we actually believe the said big businesses when they say taxes are too high and that if only we would give them free access roads and 10 year breaks on income(tax credits) and reduced property taxes that all of our problems would be resolved.....then we do that for them, and the problems are not resolved, there is not a traffic jam of good paying industries trying to come to the state.
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