Far-left presidential candidate Elizabeth Warren appears to be taking a page out of Louisiana Democrat Governor John Bel Edwards’ playbook, proposing a massive business tax hike that would weaken America’s job creators and threaten the country’s economic prosperity.
While Warren calls for these tax increases on a national level, such business tax hikes have proven disastrous on the state level in Edwards’ Louisiana. A report by Ernst & Young and the Council on State Taxation and the State Tax Research Institute released in February 2019 showed that since 2016, no state has raised business taxes at a higher percentage than Louisiana under Edwards.
The Greater Baton Rouge Business Reportwrote:
“Over a two-fiscal-year period—from July 1, 2016, to June 30, 2018—companies doing business in Louisiana saw the nation’s greatest annual increase in business taxes, with state and local business taxes rising at a 12.5% clip to an estimated $10.1 billion annually.
In a report released today, research conducted by Ernst & Young along with the Council On State Taxation and State Tax Research Institute found the rate at which Louisiana business tax collections grew was not only significantly higher than the 2% national average but was also well above the 4.9% growth rate of Florida, next-highest Southern state.
As a result Louisiana now ranks last in the nation for where to find a job and 44th for business climate, with a GDP that shrank in 2017 as 55,000 workers have reportedly fled the state.
“John Bel Edwards’ attempts to falsely portray himself as a moderate to Louisiana voters are laid bare by the fact that his liberal tax-and-spend policies are in line with the far-left leaders of his party like Elizabeth Warren,” said RGA Deputy Communications Director John Burke. “From pushing the disastrous Green New Deal to single-payer healthcare, the Democrat Party that John Bel Edwards belongs to is completely out-of-touch with Louisiana.”
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