A Letter to the Membership
IF YOU HEARD Gov. Eric Holcomb’s comments on economic development in his “second” State of the State address last night, you realize you’re on your own. He’s not going to help. Your community and your business will have to work out its fortune in its own way. You will be lucky if state government doesn’t actually impede your efforts.
That’s why the foundation has launched a statewide campaign to do something direct and effective — repeal local business personal property taxes. We are working hard to raise funding for seminars on this issue ($1,500 a seminar) and will need your financial support. Linked here is an essay by our Dr. Barry Keating that makes our case in less than a thousand words. For more detail, a quarterly journal dedicated to the subject is linked here.
In a sentence, repeal is good public policy for two reasons: 1) It creates a level field going forward for all investors, near and far (the best economic-development policy any city could adopt); and 2) it removes the temptation of those who control the new quasi-governmental economic programs to build political machines that overwhelm local democratic systems.
If we get even one Indiana council to vote for repeal this year, we have a shining example of how a city can prosper through free-market principles. Please send a check in support. Let’s put the inefficiencies of crony capitalism and state-driven development behind us. Let’s trust instead in Indiana’s productive, inventive citizens, unobtrusive local governments, affordable lifestyle and cultural values.
The Indiana Policy Review Foundation
“The Business Personal Property Tax”
PO Box 5166
Fort Wayne, IN 46895