|
|
Wednesday, January 26
Iowa: Don't Tax Under 30?
by
Chad Thompson
on Wed 26 Jan 2005 12:22 PM CST
 Iowa: Don't Tax Under 30?
This morning the Des Moines Register ran with the headline "Don't Tax Anyone Under 30" - naturally above the fold in big, bold words.
The story revolves around Iowa Senate Repubicans revealing their take on stopping the "Brain Drain" of our college graduates:
Iowans younger than 30 would pay no state income taxes under an
economic-growth plan unveiled Tuesday by Senate Republicans - an idea
that drew cheers and jeers from young and old.
"More than half
of our college graduates leave the state after graduation. We want to
reverse Iowa's brain drain and make our state a more attractive place
for our young people," said Senate Republican Co-President Jeff
Lamberti of Ankeny.
Of course, none of this comes for free:
Eliminating the income tax for those under 30 would reduce state
revenue by an estimated $200 million a year, according to the
nonpartisan Legislative Services Agency.
A few points:
1)
As a former 'college graduate who left the state', trust me: this
won't make a difference. It's job quality and cultural options
that are more important - plus the draw of embarking on a new
adventure. We can improve job quality and cultural options, but
there really isn't much we can do abotu the 'new adventure' seekers.
2)
As we already know - state finances are drawn as tight as they can be
in the current circumstances, plus other programs are being burdened
with growing costs - most often due to the ever-increasing costs of
health care. Because the constitution requires the state to run a
balanced budget - a loss in revenue from one source will have to be
balanced by a gain elsewhere.
Quite
frankly, I'm a little shocked that anyone would treat this proposal
seriously, given the financial conditions the legislature has to face.
The more interesting proposal got "B-Side" coverage:
The GOP plan, an alternative to the Grow Iowa Values Fund created
two years ago, would give businesses a tax credit for newly created
jobs paying at least $10 an hour. The tax credit would be available for
up to five years, with a maximum annual credit of 20 percent of the
salary.
"This is a market-based approach to drive economic development," said Lamberti, 42, the Senate Republican co-president.
"We
don't need the government in the business of picking winners and losers
and handing out money only to select companies. We want any company to
consider growing in Iowa," he said. "So we don't care if you're a small
business in Iowa that the Values Fund would never touch, or a Wells
Fargo."
Senate Republicans also proposed setting aside $25
million per year to help companies with the cost of building or
renovating business facilities.
Another proposal is to enlarge a
state fund for assisting local governments with the development of
community attractions. The fund would increase from $12 million to $25
million annually over five years.
Business groups applauded the plan.
"I
think it's a creative, private-sector approach, and it seems to be
comprehensive. It's not just looking at one silver bullet," said John
Gilliland, a vice president of the Iowa Association of Business and
Industry.
There is
something to be said about making sure that "Grow Iowa Values" money is
equitably spread - but on the flipside there needs to be the
realization that two major needs to start a new business are startup
capital and risk management. Tax credits likely won't help in new
(or small) business situations.
Filthy-Rich and Wannabes say NO to Cheez Whiz
by
Trish Nelson
on Wed 26 Jan 2005 06:26 AM CST
 Filthy-Rich and Wannabes say NO to Cheez Whiz
MinutemanMedia.Org
Donald
Kaul recently retired as Washington columnist for the “Des Moines
Register.” He has covered the foolishness in our nation’s capital for
29 years, winning a number of modestly coveted awards along the way.
JAN 26, 2005
There were some who thought
that $40 million was a bit much to spend on an inauguration at a time
when our troops in Iraq are resorting to “hillbilly armor” to protect
themselves against attack; Democrats, mainly. You just can’t please
those people and [Bush] was right to ignore them. He stole the
election fair and square and he has every right to enjoy it. I’m with
Mrs. Bush on the matter.
When asked about the propriety of such a bacchanal she said: “[Inaugurations]…are
a ceremony of our history; they’re a ritual of our government. I think
it’s really important to have the inauguration every time….I think
there’s a symbolic aspect of the inauguration that – and because of
that, the symbol of the inauguration, you never want to – for any
reason – cancel it or not have it.” (Have
you noticed that she’s beginning to talk like her husband, poor woman,
as though her remarks are translated from Bulgarian? Didn’t she used to
be a teacher?)
I would have phrased it differently. I’d have said: “Look,
we put the arm on corporate America, the Religious Right, the
Filthy-Rich and their wannabes for about 400 mil to win this election.
They’re not going to keep coughing up that kind of dough if we give
them an inauguration with crackers and Cheez Whiz. You have to give
them something to take back home to impress their friends with.”
That
would have been a good answer, at least an honest one, but it’s not
fair to expect honesty from a politician’s wife. The truth is that
pretty much everything in politics these days is about money. Virtually
all of Mr. Bush’s initiatives, for example, are about money:
-His drug proposal mainly benefits drug companies.
-His Social Security scheme will make Wall Street hustlers even more obscenely rich than his tax cut did.
-His war in Iraq has been great for defense contractors.
-His environmental policies favor the extraction industries - logging companies, mining companies, oil companies.
-His tort reform is a boon to the insurance industry.
These
favored industries are expected to pay for these policies and they do,
by financing his re-[s]election and giving him a Republican majority in
Congress. In return for their millions, they get billions in benefits.
Why shouldn’t they throw something extra in the pot to have an
inaugural wingding? It’s their government, isn’t it? The
soldiers in Iraq? They threw a party to pay tribute to them, too.
Anyway, it’s not like anyone at the Inaugural balls actually had sons
or daughters over there.
I
don’t mean to imply that the Republicans are alone in this. The
Democrats are much the same but, being Democrats, they are not as good
at it or as brazen.
In fact,
I have decided to join the line at the all-you-can-eat buffet myself. I
was given the idea by Armstrong Williams, the conservative columnist
who has admitted taking $240,000 from the Education Department to push
the President’s No Child Left Behind law in his column and on
television.
I didn’t know you could get the government to pay you for your opinions. If Williams, why not me?
So let
word go forth from this time and place that I am forming a consulting
firm called “The Golden Parachute Insider Trading Company” and will
make myself available as a speaker to promote any worthy cause that
pays me. (Unworthy causes will pay extra.) I will also write columns to
order.
This is my fee schedule, arrived at after asking myself the question: “What would Jesus charge?”
• Column supporting piece of skanky legislation – $5,000; three columns for $12,500.
• Column supporting a medium-sized war – $20,000; big war – $50,000.
• Speech promoting [Bush]’s forest protection plan, “No Tree Left
Behind” – $10,000.
You get the idea. I will also serve on corporate boards and live up to my corporate motto: “We Roll Over.”
It’s the new me. There’s a big barbeque out there folks. You don’t want to be caught on the outside with a rubber fork.
To Email Donald Kaul click here
Click here to go to MinutemanMedia.Org
 Click here to sign up for action alerts from RapidResponse - Iowa.
|
|
