Tuesday, October 19, 2004
The Tax Foundation has released its annual ranking of business tax climates. Read more. Download the report.
The Foundation's approach is not as useful as a more detailed comparison based on hypothtical taxpayers. This approach compares indivudal and corporate taxes based on different income levels. By taking this approach, policy makers have a far better insight into the equity and efficiency of their tax codes.
In general terms, a good tax code raises adequate revenue for a package of state and local services by keeping the base broad and the rates as low as possible. Special tax incentives undercut this strategy by weakening the based and -- eventually -- putting upward pressure on rates.
The Foundation's indicators also provoke critics of the Fondation. See this article from Iowa as an example.
posted by Ed Morrison |
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Some Background on EDPro Weblog
The purpose of this weblog is to help economic development professionals -- EDPros -- keep up with the changes sweeping our profession. Strap on your goggles. It's a whole new game. There are no experts any more. The only place to learn about economic development is from other EDPros who are doing it.
One other point: the prevaling approach (paradigm, if you like) in economic development is shifting from competition to collaboration. There are a lot of reaasons underlying this shift, but here's the important insight: You, your community, and your region will do better by collaborating and sharing information.
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Speaking and workshops on Open Source Economic Development
As the idea of Open Source Economic Development starts spreading, more people are asking about it. Visit the I-Open web site to learn more. My colleagues and I are happy to explain the basic concepts in a talk or a workshop. E-mail Susan Alshuler if you'd like to learn more about workshops and speaking.
Background on Ed Morrison
Download some background information on me here.
Resource: State business tax climate
