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Started By
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re: Jeff Landry transition committee calls for phasing out corporate and personal income taxes
Posted on 1/27/24 at 10:29 am to WPBTiger
Posted on 1/27/24 at 10:29 am to WPBTiger
quote:Until shrinking the size of government is part of the solution the form of tax will not matter.
The committee provides no plan for how to offset the huge hit to the state treasury by eliminating the income tax and the corporate franchise tax, another recommendation.
0
Posted on 1/27/24 at 10:32 am to WPBTiger
quote:
Landry and state legislators ought to begin phasing out corporate
I'm all for getting rid of personal income taxes. But why would we need to get rid of corporate income tax? that's shady and makes Landry look like a puppet to the corporate swamp.
What's the idea behind getting rid of corporate income tax? more companies will come =more jobs? just trying to understand this angle
Posted on 1/27/24 at 10:33 am to Bison
quote:
But why would we need to get rid of corporate income tax?
Louisiana has a rep as anti business, goes back to Huey Long.
Posted on 1/27/24 at 10:34 am to Von
quote:
Either way they'll get their money.
My state and local tax burden in texas is a helluva lot less than it would be to Louisiana.
Posted on 1/27/24 at 10:35 am to Macduff
quote:
Trickle down has always worked for those not super rich
Get a job and do something to better yourself, you lazy arse loser
Posted on 1/27/24 at 10:38 am to WPBTiger
I need to understand how this will work before I can support the change. So if my income tax goes away, do all of the taxes get paid via property and sales taxes? I own more property than just my house so I pay full property tax on all of those properties.
If the result is ultimately removing the income tax and the homestead exemption then I’m for it so long as my property taxes do not increase on a per mill basis.
If the result is ultimately removing the income tax and the homestead exemption then I’m for it so long as my property taxes do not increase on a per mill basis.
Posted on 1/27/24 at 10:45 am to WPBTiger
If Landry did this very one thing. Just this one. He would be a GOAT LA Gov
Posted on 1/27/24 at 10:57 am to boosiebadazz
Want to compare Texas roads to La’s? Or Florida, or Tennessee?
Posted on 1/27/24 at 11:09 am to ragincajun03
quote:
shift funding of public schools, parish roads, police departments, etc more onto the local governments
This right here. This would force Nola and BR to accept the fact they can’t have some special programs (aka slush funds) and actually fund the needs of the community. Would also mean places that don’t have enormous populations to tighten their belts and not have unnecessary multi million dollar government facilities. It’s a win-win if it happens. Makes sense that tax from local transactions/earning stay local.
Posted on 1/27/24 at 11:10 am to WPBTiger
YES!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Posted on 1/27/24 at 11:17 am to grizzlylongcut
You’re going to be so mad when property taxes end up costing your more than income tax ever did. Look at Texas, then imagine the % of property that is effectively worthless triples, making the burden even higher on land owners with desirable property.
New property taxes mean you’re paying the government tens of thousands a year for something that you might already own in full. There is no getting out of it without selling the land.
New property taxes mean you’re paying the government tens of thousands a year for something that you might already own in full. There is no getting out of it without selling the land.
Posted on 1/27/24 at 11:19 am to Lickitty Split
You will be paying 2-3x more in property tax than what you pay now in all tax.
Eliminating income tax only advantages the middle class that has high-ish paying jobs but doesn’t own much land. Everyone else gets fricked.
Eliminating income tax only advantages the middle class that has high-ish paying jobs but doesn’t own much land. Everyone else gets fricked.
Posted on 1/27/24 at 11:21 am to TDsngumbo
quote:
The LAST thing I want is for Louisiana politicians to start looking at other areas I can be taxed in order to compensate for losing state income tax revenue.
LOL start looking? After you get your already heavily taxed income and go out to buy anything, guess what they tack on?
Posted on 1/27/24 at 11:23 am to DaveyJones12
Live in LA, work and pay taxes in MS....LA credits the income taxes paid to MS. If this goes through then it sounds like time to move else pay at least double, MS is still going to take their pound of flesh, then LA will want to increase local & property taxes to cover at least what the state income tax was.
No thanks.
No thanks.
Posted on 1/27/24 at 11:23 am to Macduff
quote:
Trickle down has always worked for those not super rich.
Fact check: true.
Here in reality, money can not flow from people who have none.
Posted on 1/27/24 at 11:25 am to Macduff
If I had more of my money to spend, these small business wouldn’t be shuttered.
But I bet you cheered on all of us being funneled to Walmart and Amazon.
This post was edited on 1/27/24 at 11:26 am
Posted on 1/27/24 at 11:34 am to Screaming Viking
quote:
On face value, I love this. However, the devil is always in the details.
This. We already have a fairly dysfunctional DOTD (anyone remember how many contractors they went through just to widen I-10 years ago?), for example. While I am sure there are lots of cuts available, somewhere around 1/3 of the state's revenue comes from income tax so at least some of that money will need to be collected from other sources.
Posted on 1/27/24 at 11:35 am to DaveyJones12
quote:
You will be paying 2-3x more in property tax than what you pay now in all tax.
Link?
My household state taxes would be approximately 10k higher in Louisiana than they currently are in Texas. Given same salary and home value.
Posted on 1/27/24 at 11:52 am to JohnnyKilroy
quote:
Link?
My household state taxes would be approximately 10k higher in Louisiana than they currently are in Texas. Given same salary and home value.
That math wouldn't hold up in most areas of my county in TX.
Unless you're living WAY below your means (which is a good thing to do)
Posted on 1/27/24 at 11:53 am to TDsngumbo
Don’t vote democrat/ liberal and weed out the rhinos then you won’t have much to worry about
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