Louisiana makes no sense. Despite being a busy commercial and industrial hub packed to the brim with extensively-exploited natural resources, it's one of the poorest states in America, with the lowest quality of life indicators.
Here's a vid on why.
Here's a vid on why.
In a phrase? Industrial tax exemptions. Between 66% & 99%(!) of the properties owned by companies like Exxon & Dow in LA aren't taxed at all. Exemption requests, decided at the state level, are passed 99% of the time. There hasn't been a policy review of the process in +80 YEARS.
Louisiana is losing hundreds of millions, possibly more, in tax dollars every year to these exemptions. And as a result, when judged by factors like healthcare, infrastructure, educational opportunities and crime prevalence, LA comes DEAD LAST at 50. usnews.com/news/best-stat…
It's often claimed the way out of systemic poverty is economic prosperity. That's not the truth. And Louisiana is the proof.
Something to think about the next time you hear about the tax breaks Amazon's getting for setting up in NY.
Something to think about the next time you hear about the tax breaks Amazon's getting for setting up in NY.
