Politidose has reported for the last several years and more recently in a commentary dated May 29 how the state of Louisiana has lost billions in state tax revenue through the states tax give away programs to the business community. The tax give aways are supposed to create jobs and etc, etc, etc, and benefit the state with financial returns. The tax give away amount to $7 billion per year.
Now comes The Advocate staff writer Mark Ballard in a commentary dated 6/27 concerning the gambling industry in Louisiana. Ballard discloses in his article that gambling revenues for the state has been at a standstill since 2007 and when inflation is taken into consideration that total revenue is actually down 27%. Ballard also talks about the industry not making its promised job creation on and off and how even more tax concessions have been granted to the industry over time.
It has been know for some time that the state is losing too much tax revenue with the $7 billions in tax give aways. And in this case, knowledge of the facts have not fazed our governors or state legislature to act and end the social welfare for the business community. Business needs employees to operate regardless what taxes they pay. Tax give aways will not result in hiring more employees. Our elected officials allow themselves to participate in these schemes to enhance their political life. To them its a game they play at the expense of the public good and the welfare of the state.
And that really says it all. So stay tuned to Politidose, your daily dose of political commentary for the real story.
This commentary written by Joe Lorio
