Oh, swell. Another blue-ribbon legislative task force. How come there's never a yellow-ribbon task force? Or green? Green is a wonderful color, if you can find it this time of year.
And why a task force, yet again? Maybe there's a military objective somewhere here. Although we doubt even the governor can get all these Arkansas lawmakers to march in step. There are some things even Asa Hutchinson will never be able to do.
What the governor can do, and did do last week, is call for a blue-ribbon legislative task force. This one to come up with a plan for cutting taxes. And, if you put aside all the talk of task forces and colored ribbons, this will probably be a good thing. And not just for those in the state who might see lower taxes.
The governor already wants the Republican-controlled Legislature to cut taxes for folks with lower incomes and those getting military retirement checks. Hear, hear. Some lawmakers are said to want to cut more, some lawmakers are said to want to wait. Which puts Asa Hutchinson somewhere in the middle, which is probably right where his constituents--that is, all of Arkansas--want him.
Asa Hutchinson is getting the reputation of being a tax-cutter. Even if his steady-as-she-goes approach is a little too steady for some lawmakers. And he's on the right path. Arkansas has some tough competition out there, namely Texas and Tennessee, just to name two border states. They don't have any income tax at all. And that's not including states a bit farther away like Florida and Nevada.
Arkansas isn't likely to do away with its income tax completely, simply because it brings in so much. At the very least, it'll take a while if we do it piece by piece, percentage by percentage, bracket by bracket. But that could take years.
So how make Arkansas a more attractive state not only to businesses, but retirees and others who are looking for new digs?
We've said it before, but since lawmakers are getting the chairs in a circle for this blue-ribbon panel, we'll say it again: Arkansas could make a splash by granting a moratorium on any income taxes for five years to anybody who moves here.
Come to Arkansas! No income taxes for five years!
And it wouldn't cost residents or the Arkansas budget a thing, not even in the short run. After all, those people who aren't here now aren't paying taxes here. What such an idea could do is make it more attractive for retirees to move here (with their money) and improve Arkansas' anemic population growth. Somebody said in the paper the other day that Arkansas grew three-tenths of 1 percent last year. And most of that growth was from newborns, not people rushing here from elsewhere.
That type of growth isn't going to increase the tax base.
What could, we think, is a moratorium on income taxes for new Arkies.
Welcome all! Enjoy the hills, the Delta, the four seasons and our cheese dip. And don't worry about income taxes for a while.
Sounds like a fairly original advertising campaign. Simple, attractive, and maybe even effective.
Let's give it a chance. While the Ledge is in session.
What do we have to lose? Three-tenths of 1 percent growth?
Editorial on 01/16/2017