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“Too often, we see public officials relying on these rankings and the policy prescriptions they promote, when in fact the rankings have no predictive value for economic growth,” said Fisher.
The big winners would be those with the highest incomes.
Tax cuts have dramatically reduced state funding for schools, health care, and other services.
In Iowa as in most states, middle- and low-income people nationwide pay substantially more of their income in state and local taxes than wealthy individuals and families.
Whether we are looking at the entire range of taxes that fall on businesses or just the corporate income tax, the fact is that business taxes in Iowa are low.
Iowans cannot afford new raids on the General Fund when many public services have not been restored to pre-recession levels.
Business tax breaks turn out to be an expensive and inefficient way to attempt to stimulate a state economy.
Plugging tax loopholes — an old issue that hangs around in Iowa, not addressed. Good time to look back at an IFP report on how Iowa could save millions every year.