— James Kuhlenschmidt
Cutting personal property tax will sink middle class
You don’t save a sinking ship by cutting another hole in the hull. And yet that’s just what supporters of eliminating Indiana’s business personal property tax are proposing. Even as local governments are struggling with restricted property taxes and reduced federal aid, proponents of ending the business tax would slash another $1 billion from county and town budgets. Roads, schools, emergency response and other important services would all suffer as a result.
Working families have sacrificed enough to austerity policies at the state and federal level. Kids kicked out of preschool, seniors losing hot meals, medical research cancelled — these are the human costs of budget cuts. Instead of fruitlessly trying to cut our way to prosperity, we should be asking big corporations and wealthy households to pay their fair share of taxes. Even with the newest federal budget deal there was no closing of corporate tax loopholes. Instead, a billion-dollar business tax cut on the Indiana state level punches another hole in the boat, further sinking the struggling middle class.
— Jeremy Bernstein