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5
Posted on 1/23/19 at 11:18 am to Icansee4miles
quote:
We can certainly agree on that
Posted on 1/23/19 at 11:28 am to Buryl
quote:Ah, one of the many people who believe that a reduction in taxes is actually the government giving away money.
So we're all in agreement that welfare is bad, unless it's corporate welfare, in which case it's good.
Posted on 1/23/19 at 11:36 am to Buryl
If you want a balance sheet: Exxon puts ~$5,000,000/yr into EBR outreach. EBR denied Exxon a $290,000/yr tax exemption.
So it looks like EBR stands to lose $4,710,000 if Exxon so decides. Do you think the parish will earmark to fill that gap?
Exxon is really steam rolling this parish
So it looks like EBR stands to lose $4,710,000 if Exxon so decides. Do you think the parish will earmark to fill that gap?
Exxon is really steam rolling this parish
Posted on 1/23/19 at 11:59 am to notiger1997
Not really an argument, more of a criticism/observation of the general attitude on this forum.
Posted on 1/23/19 at 12:04 pm to Scruffy
Scruffy gets it
Posted on 1/23/19 at 12:09 pm to Scruffy
quote:
Ah, one of the many people who believe that a reduction in taxes is actually the government giving away money.
The government should be as small as possible and only collect the minimum needed to run that small government.
The problem is when exemptions are not handed out in a fair, rational, and above-board manner.
The best tax systems have no exemptions whatsoever, and low tax rates for everyone.
What makes more sense, from a predicibility and stability standpoint?
1) Charging 10 million in taxes, but the company has to go spend time and effort to get an exemption that lowers their tax bill to 1 million.
2) Just charge 1 million in taxes and be done with it.
Posted on 1/23/19 at 12:18 pm to LSUFanHouston
All this ^^^^^^^
Posted on 1/23/19 at 12:26 pm to Icansee4miles
quote:
Icansee4miles
Have you talked to LSUDad about his thoughts regarding this latest step by ITEP?
Posted on 1/23/19 at 12:32 pm to Buryl
lol. The argument of the functionally retarded.
Posted on 1/23/19 at 12:33 pm to LSUFanHouston
quote:
The government should be as small as possible and only collect the minimum needed to run that small government. The problem is when exemptions are not handed out in a fair, rational, and above-board manner. The best tax systems have no exemptions whatsoever, and low tax rates for everyone. What makes more sense, from a predicibility and stability standpoint? 1) Charging 10 million in taxes, but the company has to go spend time and effort to get an exemption that lowers their tax bill to 1 million. 2) Just charge 1 million in taxes and be done with it.
Trying to explain that to government bureaucrats won't be so easy. I guarantee you Baton Rouge's tax codes are not that simple.
Posted on 1/23/19 at 12:35 pm to Scruffy
quote:
Ah, one of the many people who believe that a reduction in taxes is actually the government giving away money.
I bet 95+% who are against these tax breaks think the government is paying these companies this money.
I work in the industrial capital project world and run into this opinions from time to time when I explain what I do to people.
Posted on 1/23/19 at 12:43 pm to Mudminnow
quote:
Mudminnow
You know I have. I told him I miss his posts, he says he’s really happy to be retired.
Posted on 1/23/19 at 12:44 pm to LSUFanHouston
quote:
1) Charging 10 million in taxes, but the company has to go spend time and effort to get an exemption that lowers their tax bill to 1 million.
This gives local government more control over which industries they attract and the power to reward businesses that contribute more to the local economy.
quote:
2) Just charge 1 million in taxes and be done with it.
This does not. It also causes the property tax burden to be shifted to residential to make up for the industrial shortfall.
Posted on 1/23/19 at 12:45 pm to Icansee4miles
quote:
You know I have. I told him I miss his posts, he says he’s really happy to be retired
Seems to enjoy living in TX and spending time with the grandchildren vs. working. I thought he may get bored and want to work again but I guess he hasn't gotten that bored yet.
Posted on 1/23/19 at 12:46 pm to topdollarbill
quote:
FWIW, Broderick Baggert (of TBR fame) has a Masters degree from London School of Economics. Does that make him an expert too?
His Master's degree is in "Social Policy".
Posted on 1/23/19 at 12:54 pm to JasonL79
Most don’t even appreciate that LA residential properties are assessed at 10% of their fair market value and also receive a homestead exemption. Commercial/industrial improvements and personal property are assessed at 15%.
Here’s a little math example of how that works out:
HOMEOWNER
Home Market Value: $200,000
Homestead Exemption: $75,000
Taxable Market Value: $125,000
Assessment Ratio: 10%
Assessed Value: $12,500
Mill Rate: 20mills (EST.)
Tax Due: $250
EXXON (Or any other business)
Improvement Market Value: $200,000
Exemption: $0
Assessment Ratio: 15%
Assessed Value: $30,000
Mill Rate: 20mills (EST.)
Tax Due: $600
Before you start making noise about government giveaways to business, realize that LA’s property tax system is already set up wildly in favor of residential property owners.
Here’s a little math example of how that works out:
HOMEOWNER
Home Market Value: $200,000
Homestead Exemption: $75,000
Taxable Market Value: $125,000
Assessment Ratio: 10%
Assessed Value: $12,500
Mill Rate: 20mills (EST.)
Tax Due: $250
EXXON (Or any other business)
Improvement Market Value: $200,000
Exemption: $0
Assessment Ratio: 15%
Assessed Value: $30,000
Mill Rate: 20mills (EST.)
Tax Due: $600
Before you start making noise about government giveaways to business, realize that LA’s property tax system is already set up wildly in favor of residential property owners.
Posted on 1/23/19 at 1:50 pm to JasonL79
quote:
Trying to explain that to government bureaucrats won't be so easy. I guarantee you Baton Rouge's tax codes are not that simple.
Given the idiots we have in charge, is even more of a reason to push for a simplified tax code.
Posted on 1/23/19 at 1:52 pm to WildManGoose
quote:
This gives local government more control over which industries they attract and the power to reward businesses that contribute more to the local economy.
So, does this mean you support JBE changing the system and giving local governments control over approving or denying the exemption? Because up until this past summer, the local government had no control at all over this.
quote:
This does not. It also causes the property tax burden to be shifted to residential to make up for the industrial shortfall.
Explain to me what you mean.
What is the difference between charging a refinery a million dollar tax, and charging a refinery a 10 million dollar tax with a 9 million dollar exemption? In both instances, the government is collecting 1 million from the refinery. There is no shortfall.
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