Monday, April 15, 2013

So What Will It Be? Door #1 – Door #2 or Door #3?

Monty Hall was legen – wait for it – dary on the tv game show “Let’s Make A Deal”. I know Wayne Brady does it now but, no one can replace Monty Hall. Sorry, Wayne.

Well, Monty Hall would fit right in today in Baton Rouge at the State Legislature.
The House Ways & Means Committee, chaired by Joel Robideaux (R-Lafayette) and including Jefferson Parish State Reps Julie Stokes (R-79) and Tom Willmott (R-92), will begin debating today 25 different bills dealing with the State Personal and Corporate Income Taxes, the Corporate Franchise Tax, the Cigarette Tax, along with various other proposals regarding tax credits and exemptions.

Some of the bills call for reducing the State Personal and Corporate Income Taxes while others call for the taxes to be phased-out over a period of 3 – 10 years.
In addition to phasing out the Income Taxes, there are also plans to keep the income taxes but lower their rates and a plan for a Flat Income Tax of 1.9% on personal incomes of more than $12,500.

Chairman Robideaux told The Advocate, “My role in this is to (ensure) the bills (are) heard, give them a fair hearing.”
Last week, Governor Bobby Jindal scrapped his plan to eliminate the State Personal and Corporate Income Taxes in 2014 and replace them with an increased State Sales Tax. Governor Jindal faced increasing pressure on several fronts before he withdrew his plan on the opening day of the legislative session.

The Governor basically threw up his hands and told legislators to figure it out.

The Council for a Better Louisiana (CABL) and the Public Affairs Research Council (PAR) have both cautioned against eliminating or phasing-out the income tax.
CABL said that it’s time to “end this unrealistic tax debate”.

So, will it be Door #1, Door #2 or Door #3?
Let’s hope that Louisianians won’t get Zonked.

Monty Hall would be so proud.