This article says no.
Raising income and sales taxes just ensures that people move to and shop in places with lower tax rates.
In these days of internet shoping, raising the sales tax is especially stupid.
Indiana used to be a very low tax state. We were in the top 10 lowest taxes states as recently as '02. Since then, the sales tax has been raised twice.
We need to get back to that. Focus on cutting the sales tax and local income taxes, and keep the property tax cap as well. Get us back into the top 10, and attract the people and businesses that are fleeing high tax Michigan, Ohio, and elsewhere.
Why not go a step further and try to eliminate the sales tax, or income tax, or both? New Hampshire doesn't have either. Why can't we?
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From the perspective of job creation, I'd much prefer we eliminate the personal property tax first ... then if and when the economy starts to recover, pass a constitutional amendment to totally eliminate all property taxes in 10 years.
We can argue in 2020 about whether the resultant balance should be 50-50 between sales and income taxes or go all the way to consumption only taxation. For the next ten years jobs will be created in states that leave a companies property alone.
Personal property is a pretty small piece of the puzzle. Especially since it's self-reporting. Farmers really love self-reporting. Inventory was the big number and it's gone.
I can't believe with the state income running $200 million below estimates that someone wants all units to rely entirely on income and sales tax.
All sales and income tax goes to Indy first. They decide how much to keep before sending it out. Property tax NEVER leaves your county.
I promise when things don't go the state's way they change the calculations. I don't really care about state government - I care more about how my local gov runs. And I want property taxes at the local level. With ALL decision making done locally. There was actually a time when decisions were made locally and everything ran very well. Then the state decided to insert themselves and now damn near every local unit is either broke or damn near broke.
What really gets me is how the hell can Mitch say he hasn't raised taxes since being guv and people just nod thier heads?
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