Gov. Kathleen Blanco talks the talk when it comes to trying to attract jobs to the state. But, so far, she hasn’t really walked the walk.
Meeting a bunch of people, calling the federal government, and going on junkets to Cuba and Asia are ancillary, perhaps often unnecessary to bring jobs and economic development to Louisiana. But where the real rubber is underneath the road is in policy, and Blanco has shown she is a long way from doing what is necessary to produce economic growth in Louisiana.
No matter how much jawboning and backslapping goes on, Louisiana never will grow economically like it can until two policy-related matters get solved. One, the state’s tax structure simply discourages business formation and flourishing. Because of the homestead exemption most property taxes are paid by business, weird, confiscatory taxes such as a franchise tax based on the amount of debt business has exist, and among the states Louisiana has the fifteenth-highest corporate income tax rate on top of all of this.
Blanco’s actions here? Speedily eliminate, over the course of many years, a relatively small business tax. Such boldness shocked us all in 2004!
The state’s reputation for playing fast and loose with government ethics is the other major obstacle. Even if the fiscal environment is made more enticing for business to grow, concerns will remain that it’s more who you know than what or how you do that determines financial rewards in Louisiana.
Blanco’s decisive response here? After talking big about ethics legislation prior to it, she failed to support any by the end the 2005 legislative session, other than one requiring review of some statewide elected officials’ vehicle purchases. I’m sure that changed a bunch of people’s perceptions about New Jersey South.
Talking the talk is fine, but eventually you have to walk the walk and (to continue this cliché-fest) put your money where your mouth is. Joyriding and schmoozing isn’t going to cut it; Blanco has to show real commitment to policy change before she can genuinely claim to help to create jobs in the state, much less take credit for it.
1 comment:
as usual Dr. Sadow, you are right on the "money". Until this state cleans up it's on act we are always going to be a "Banana Republic". And unfortunately I don't see that happening any time soon because of the ingrained greed, nepotism and "good ole boy network" at work in this state. Clean up your own house and then the outside will notice!
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