Tag: Critique

To make a life, young people need education, yet funding and focus on that is surprisingly challenging. We tax labor heavily, but what about capital? Buyers of business capital in Indiana can fully depreciate the value of that capital in eight years, removing more than two-thirds from the property tax rolls. However, paying any business property taxes is apparently only for dupes. Local businesses offer tax abatements of nearly $1 billion of new investment each year, and no Hoosier business big enough to hire a law firm will ever pay more than a 1.0 percent tax on their investment. Among a short the list of places that have spent the most to attract jobs — Marion, Muncie, Terre Haute — are all places that must import workers every day to fill the jobs they already have. That approach to state and local spending and economic development policy contributes to the economic unease felt across the country. I’d like to end with something glib and funny, like “if you think your community needs to attract more jobs, the ’70s are calling and want their economic policies back.” But, the problem is too serious for that. Worker training must support careers and communities must attract people. We should be funding our schools to prepare kids for lifelong learning, not just their first job.