Louisiana Think Tank CEO Calls for Major Tax Reform [VIDEO]
Daniel Erspamer, CEO of Louisiana's Pelican Institute, talks with 101.7 / 710 KEEL's Robert J Wright and Erin McCarty about their just released study calling for and outlining tax reform for the state.
Erspamer tells KEEL listeners that the institute's reform policy calls for major changes in the way Louisiana taxes both individuals and businesses.
"Ideally, all Louisiana residents would benefit from a flat tax system, one which lowers the current 2% bracket to 0% (effectively eliminating it), and reduces the 6% bracket to 4%. This tax structure would remove thousands of Louisiana residents from tax liability, by exempting individual filers’ first $17,000 in income, and families’ first $34,000 in earnings, from taxes. Above those levels, filers would pay a flat 4% rate all on their income—a simpler, fairer, and pro-growth way to reform the revenue code."
The Pelican Institute also is calling for changes in the corporate tax structure, including repeal of the franchise and inventory taxes and job incentive programs.