Pharos-Tribune

Breaking News

Local News

June 30, 2014

Simplifying taxes is not so simple at all

INDIANAPOLIS – Pushing his idea that a simpler tax system can boost Indiana’s economy, Gov. Mike Pence invited prominent conservative economists to a closed-to-the-public conference this past week.

Keynote speakers at the daylong Tax Competitiveness and Simplification Conference included former Reagan advisor and tax-cut champion Arthur Laffer, who delivered entertaining presentations to a mixed audience of business leaders, public policy wonks and politicians.

The economists’ message, later video-streamed on a state website, was in essence that simply doing away with onerous taxes will go a long way toward promoting development and prosperity.

Their words won applause. But some less well-attended presentations throughout the conference belied the day’s theme. As it turns out, there’s nothing simple about tax simplification.

That may have been best illustrated during a session on local tax revenue.

A panel of speakers, which included local economic development experts and Indiana economists, spent much of their time talking about the proposal floated by Pence last year, and still alive, to simplify the tax system by doing away with the business personal property tax.

Revenue from that tax, which is collected on an array of business equipment and inventory, provides $1 billion to local governments, schools, and libraries. But Pence sees it as a burden to businesses, especially equipment-rich manufacturers, who’d rather keep or reinvest the money.

One big problem with simply doing away with the tax is that neither the Republican Pence nor the GOP-controlled Legislature has come up with a way to replace the lost revenues.

That worries Jeff Quyle, a panelist who is an economic development specialist for Hoosier Energy. He’s also a Republican who sits on the Morgan County Council.

Quyle’s fears are the same voiced by local Republican and Democrat officeholders for months now. Having already cut personnel and services to offset millions lost to the 2008 property tax caps, local governments, schools and libraries will be hard pressed to do more.

Text Only | Photo Reprints
Local News
  • Police Blotter: July 22, 2014 Have a tip? Anyone with information on a crime is encouraged to call Crime Stoppers at 800-222-TIPS. Information leading to an arrest or conviction could lead to a reward of up to $1,000.

    July 22, 2014

  • One dead, one seriously injured in crash on Division Road

    A Logansport man was killed and another was seriously injured in a single-vehicle crash Monday on Division Road.

    July 22, 2014

  • NWS-PT072214 Western Wildfires.jpg Local volunteer to help wildfire victims A Flora resident will be among the volunteers helping those affected by the wildfires in Washington State.Pat Rinehart was scheduled to fly out of Indianapolis International Airport Monday afternoon and join fellow American Red Cross volunteers at th

    July 22, 2014 1 Photo

  • NWS-PT072214 Lauren Ray.jpg Logansport graduate makes a go at Hollywood “Instincta,” the latest film by a 2008 Logansport High School graduate, will be screened at the Gen Con Indy Film Festival in Indianapolis in August.It is an action, thriller cop drama short film, starring Logansport native Lauren Zehner Ray, Michael

    July 22, 2014 1 Photo

  • EDU-PT072314 whitley lehr.jpg School's top honor goes to local grad Whitley Lehr chose Indiana University Kokomo because of its excellent School of Nursing. Receiving the campus’ most prestigious scholarships sealed the deal for each of her. The 18-year-old Delphi student called the Herbert Scholarship “a huge blessi

    July 22, 2014 1 Photo

  • NWS-PT072214-Gwin3-BCM Landis Elementary teacher back from China experience Steve Gwin has hundreds of pictures already on his new laptop, just months after buying it. He spent the month of June in China teaching to kids at two schools and chronicled about each adventure.Gwin teaches first grade at Landis Elementary and got

    July 22, 2014 3 Photos

  • Four injured when motorcycles collide Four people were injured Sunday when a motorcycle rear-ended another motorcycle. The accident occurred at 4:06 p.m. Sunday on the ramp from U.S. 35 North at U.S. 24, according to Cass County Sheriff Deputy Brad Craven. Riding a 2012 Harley-Davidson,

    July 21, 2014

  • Police Blotter: July 21, 2014 Have a tip? Anyone with information on a crime is encouraged to call Crime Stoppers at 800-222-TIPS. Information leading to an arrest or conviction could lead to a reward of up to $1,000.

    July 21, 2014

  • NWS-PT072014 Corn2.jpg Bumper crop? Corn farmers hopeful that good weather lasts Several Cass County corn farmers say they may see record-breaking harvests this fall thanks to “perfect” weather during the spring growing and summer pollination periods.“I think it’s going to be one of the best crops we’ve ever harvested,” southern

    July 21, 2014 4 Photos

  • Monticello puts cardboard to the test MONTICELLO — Lori Abbott has been collecting pieces of cardboard for months now, in anticipation of the Monticello Rotary Club Cardboard Boat Regatta.“After work, I go home and work on the boat,” Abbott said.The second annual cardboard boat race is h

    July 21, 2014

Featured Ads
More pharostribune.com
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
AP Video
Diplomatic Push Intensifies to End War in Gaza Obama Offers Condolences at Dutch Embassy Cat Fans Lap Up Feline Film Festival Raw: Lawmakers Scuffle in Ukraine's Parliament The Rock Finds His Inner 'Hercules' Michigan Plant's Goal: Flower and Die Raw: MH17 Passenger Remains in Kharkiv, Ukraine Raw: Israel Hits Gaza Targets, Destroys Mosques ShowBiz Minute: Hoffman, Oberst, Box Office WWII Vet Gets Medals, 70 Years Late Raw: Israel Bombs Multiple Targets in Gaza Veteran Creates Job During High Unemployment Raw: Cargo Craft Undocks From Space Station Widow: Jury Sent Big Tobacco a $23B Message New Orleans Plans to Recycle Cigarette Butts UN Security Council Calls for MH 17 Crash Probe Obama Bestows Medal of Honor on NH Veteran Texas Sending National Guard Troops to Border Hopkins to Pay $190M After Pelvic Exams Taped Foxx Cites Washington 'Circus Mirror'
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.
Poll

The Pence administration continues to cut Indiana agency budgets despite a state surplus of $2 billion. Is this wise management of state funds?

Yes
No
Not sure
     View Results
eEdition