But raising the state sales tax without reducing other taxes will just knock the state of its top-five states for taxes and distance itself from the leaders in the country.
Raising the minimum wage risks putting individuals, businesses and the entire state economy in a worse position to advance a goal – helping low income households – that may not even be accomplished.
It is important that we maintain a firm commitment to small businesses and to the economic principles that instill confidence in the entrepreneurs who run them.
The short session, which opened last week and must conclude by June 11th, will be dominated by debate over taxes and spending cuts as legislators look for creative ways to balance the budget.
Those calling to increase state revenue by eliminating the inventory tax credit need to be reminded that taxes make doing business more expensive. The more expensive an activity is, the less a person can engage in it.
Many of our public pension systems operate outside the laws of reason and are usually motivated more by political interests than practical economics.
What if the states could advance and ratify a powerful federal balanced budget amendment in just twelve months? It could happen with a new approach to state-originated amendments under Article V of the United States Constitution.
With the coming expansion in the energy, manufacturing, and construction sectors and an aging population, Louisiana’s impending labor shortfall can only be exacerbated by excluding a large section of the prospective workforce: ex-offenders.
The nation’s older inmate population is expected to increase exponentially again over the next decade, with associated health costs spiraling higher.
Conservative states like Texas and Georgia have taken steps to steer nonviolent offenders away from prison, emphasize rehabilitation over jail time, and reduce penalties for many drug and property crimes.