Pharos-Tribune

Breaking News

Columns

February 17, 2014

HAYDEN: Looking to close tax loopholes

Gov. Mike Pence has spent months pushing the idea of repealing the tax on business equipment that provides $1 billion a year to schools, libraries and local governments. He’s yet to come up with a plan to replace those lost tax dollars.

Pence argues that freeing businesses from the burden of taxes on their equipment will spur growth. That, in turn, will lead to prosperity that will boost the fortunes of local communities.

Elkhart County Commissioner Mike Yoder has another idea. To replace the tax revenue lost by the locals, the state should go after dollars lost to offshore tax havens used by businesses.

“Why aren’t we recouping some of that tax revenue?” Yoder said. “The state could go after that money and turn it over to the locals as replacement revenue.”

It’s a question asked only half in jest. According to a new report published in Governing magazine, state governments failed to collect more than $20 billion in taxes in 2011 from corporations that socked away money in the Cayman Islands and other well-known tax havens.

The report, by the U.S. Public Interest Research Group, identified 31 states that saw more than $100 million in corporate tax revenue go uncollected in 2011. Indiana is one. According to the report, it lost $463 million to offshore tax havens.

Only two states, Montana and Oregon, have passed laws to recoup some of that money, by requiring companies to report profits from subsidiaries in foreign countries known for their tax-dodging loopholes. The PIRG report speculates on one reason that more states haven’t moved: Well-funded business groups employ ample resources to oppose tax reforms.

Whatever is behind Indiana’s losses to offshore tax havens, the proposal from Yoder is compelling for another reason.

The county commissioner is a fiscally conservative, business-supporting Republican – just like the governor. He, too, wants to see prosperity return to his community, which was hit hard by the recession that cut deeply into his county’s manufacturing economy.

Text Only | Photo Reprints
Columns
  • KITCHELL: Tax bills show what smoke & mirrors don't There's a price to be paid for the decline in what we call civic engagement -- and local property taxpayers are paying that price. In case you haven't received your 2014 Cass County property tax statement yet, be prepared for a bit of sticker shock w

    April 23, 2014

  • MARCUS: Illinois brings joy to Indiana From the email this week, I sensed a profound need by Hoosiers to find joy in the problems of Illinois. Our neighbors to the west are fighting their way through a mess of their own making. They have forced themselves to raise taxes and cut services t

    April 22, 2014

  • VILLAGE IDIOT: Wait a minute here — what did I just sign? When Dr. Sam said, "You've got the prostate of a 16-year-old," it was hard to keep from beaming. This must be how a woman feels when a complete stranger tells her she has a beautiful baby. Well, maybe not quite. Still, it was hard not to feel proud o

    April 22, 2014

  • LYONS: How we devalued the 'R' word At the risk of angering somebody like MSNBC's Melissa Harris-Perry, I sometimes used to joke that I only look white. Actually, I'm Irish. Meaning basically that I wasn't raised to think the man in the big house had all the answers, nor deserved all t

    April 21, 2014

  • HAYDEN: Want better teacher ratings? Ask the kids The state may be back where it started, encumbered with a flawed teacher grading system, a year after implementing what were meant to be tough new standards. That was the general consensus of the State Board of Education days after teacher evaluation

    April 21, 2014

  • KNISELY: Adventures in cat spaying If you're a regular reader of this column, you know I have a cat. I got the cat to deal with the mice. Even if you only pop in on this column from time to time, you still likely know I have mice and that I hate them. I complain about it quite regular

    April 20, 2014

  • GUTWEIN: Strengthening Indiana for Hoosier veterans America's legacy was built on the foundation created by our brave service men and women. Whether they defended our nation's borders overseas or assisted Hoosiers during the harsh winter months, we need to do everything we can to make Indiana the best

    April 20, 2014

  • CEPEDA: Baseball's sacred temple Call it a character defect, but I don't like baseball. And I especially don't like the Chicago Cubs -- losers I never found lovable. I grew up less than a mile west of Wrigley Field and games there represented summer-long inconveniences such as midda

    April 20, 2014

  • HOWEY: Doctors Brown and Bucshon become seekers Seated across the table from me at Cafe Patachou were Drs. Tim Brown and Larry Bucshon. Dr. Bucshon was a heart surgeon from Newburgh. Dr. Brown is an emergency room physician from Crawfordsville. What made this breakfast meeting extraordinary is tha

    April 20, 2014

  • WOLFSIE: High-tech got you down? I love where I bank. It's a branch inside of a big supermarket. I can make a modest withdrawal and then go and blow every last penny in the cookie aisle. The tellers at the window appreciate me. They know about my obsession with round numbers and und

    April 18, 2014

Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Poll

Should mushroom hunters be allowed to forage off-trail in Indiana state parks?

Yes
No
Undecided
     View Results
Featured Ads
AP Video
Raw: Deadly Bombing in Egypt Raw: What's Inside a Commercial Jet Wheel Well Raw: Obama Arrives in Japan for State Visit Raw: Anti-Obama Activists Fight Manila Police Motels Near Disney Fighting Homeless Problem Michigan Man Sees Thanks to 'bionic Eye' Obama to Oso: We'll Be Here As Long As It Takes Bon Jovi Helps Open Low-income Housing in Philly Pipeline Opponents Protest on National Mall Hagel Gets Preview of New High-tech Projects S.C. Man Apologizes for Naked Walk in Wal-Mart New Country Music Hall of Fame Inductees Named 'Piles' of Bodies in South Sudan Slaughter SCOTUS Hears Tv-over-Internet Case Chief Mate: Crew Told to Escape After Passengers Iowa College Finds Beauty in Bulldogs
Parade
Magazine

Click HERE to read all your Parade favorites including Hollywood Wire, Celebrity interviews and photo galleries, Food recipes and cooking tips, Games and lots more.