PBJ is one of my pet names for the current Governor of the Gret Stet of Louisiana, Bobby Jindal. He’s an annoying little turd and by far the most annoying thing about him is his overweening ambition to be President. He’s been fundraising hither and yon only returning to Red Stick to slash the state’s budget. We’re in a fix like every other state; especially because we are WAY too dependent on sales tax revenues. Anyway, PBJ was named Worst Person In The World by KO last night because of possible shenanigans involving HCR and Conserva Dem Attorney General Buddy Caldwell. Take it away, Keith:
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Just as a personal axe to grind: You said, “especially because we are WAY too dependent on sales tax revenues”
Locally they’re trying to shift from property to sales taxes. Besides being regressive, sales taxes aren’t stable and very likely to go down in a recession.
Locally they’re trying to shift from property to sales taxes. Besides being regressive, sales taxes aren’t stable and very likely to go down in a recession.
Exactly. The Gret Stet enacted something called the Stelly Plan in 2002 (http://en.wikipedia.org/wiki/Stelly_Plan) a sales tax for income tax swap…the idea was to make revenues (and revenue estimates) more stable and reliable, which would over the long term would tend to reduce government costs (e.g., stable, reliable revenue estimates raise bond ratings, which reduce finance costs) — of course, it was repealed in 2008. Go figure…
income tax. that is the fairer tax.
The Stelly plan made too much sense, Michael. If something makes sense the Looziana ledge will repeal it.