Taxation

Kansas slips in Tax Foundation business tax climate index

Kansas slips in Tax Foundation business tax climate index

Based on five components of taxation important to business, Kansas ranks twenty-second among the states, two positions lower than last year. The Tax Foundation collects and presents data regarding taxation in the states. From this data, analysts compute the State Business Tax Climate Index. In the Facts & Figures 2015 compilation released today, Kansas ranks 22 among the states. A rank of 1 means the most favorable business tax climate. In 2014 Kansas ranked at position 20. The index is composed of five components: Corporate tax rates, individual income tax rates, sales tax rate, unemployment insurance tax rate, and property…
Read More
Exchange Place incentives, including free sales tax and an ethics bypass

Exchange Place incentives, including free sales tax and an ethics bypass

A downtown Wichita project receives free sales taxes and a bypass of Wichita's code of conduct for city council members. Remarks to the Wichita City Council, March 3, 2015. Regarding the Exchange Place project in downtown Wichita, I'd like to remind the council of the entire subsidy package offered to the project. There are historic preservation tax credits, which may amount to 25 percent of the project cost. These credits have the same economic impact as a cash payment, and their cost must be born by taxpayers. There is $12.5 million in tax increment financing, which re-routes future property tax…
Read More

How TIF routes taxpayer-funded benefits to Wichita’s political players

From January 2012, how tax increment financing routes benefits to politically-connected firms. It is now confirmed: In Wichita, tax increment financing (TIF) leads to taxpayer-funded waste that benefits those with political connections at city hall. The latest evidence we have is the construction of a downtown parking garage that benefits Douglas Place, especially the Ambassador Hotel, a renovation of a historic building now underway. The flow of tax dollars Wichita city leaders had planned for Douglas Place called for taxpayer funds to be routed to a politically-connected construction firm. And unlike the real world, where developers have an incentive to…
Read More

The purpose of high tax rates

From February 2014. "The purpose of high taxes on the rich is not to get the rich to pay money, it's to get the middle class to feel better about paying high taxes." This is what Jim Pinkerton, the journalist, Fox News contributor, and co-founder of the RATE (Reforming America‚Äôs Taxes Equitably) Coalition told an audience at a conference titled "The Tax & Regulatory Impact on Industry, Jobs & The Economy, and Consumers" produced by the Franklin Center for Government and Public Integrity. Pinkerton was referring to the economist F.A. Hayek. Others have also noted that changes to marginal tax…
Read More