November 6, 2008

Rhode Island Economy

GEF: Questions for the Audience to Ponder

Carroll Andrew Morse

PROVIDENCE, RI -- Jill Schlesinger has just given the conference attendees 3 questions to work on in a breakout session…

  1. What can be done to stimulate the RI economy in the short term?
  2. What can be done to position the RI economy in the long term?
  3. What are the greatest obstacles to economic development in RI?
Ms. Schlesinger told the participants that the process should be candid and straightforward, so an analog of the process is perfectly suited for a blog-comments thread.

Oh wait, she just added “respectful”, so maybe the fit is not perfect, but if you want to take a shot at any one or all of the questions, leave your comments here, and I’ll let you know how they match with what the conference attendees come up with.

UPDATE:

The most creative suggestion so far from the short-term group…

Create a “2nd-tier” tax rate that is voluntary. In return for paying the higher rate, individuals would get a 2-for-1 deferred tax credits redeemable 10 years down the road. Make the credits tradable. Use the additional revenue to remove taxes on lower income wage earners.
Any buyers?

Two other tax-related suggestions…

Make passive investment losses deductible against income.

Create a small business loan fund through the EDC, making small operational loans, under a short form application model. It would be a “commercial paper” market for small business.

This is the most creative, so far, from the long term group...
Use open space created from moving 195 to create new health care tech opportunities in Providence.
Here's one that's creative in its expression, at least...
End the Soviet era permitting process.

10:38 AM | TrackBack (0)
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"Create a “2nd-tier” tax rate that is voluntary. In return for paying the higher rate, individuals would get a 2-for-1 deferred tax credits redeemable 10 years down the road. Make the credits tradable. Use the additional revenue to remove taxes on lower income wage earners."

LOL. Is this for real?
You mean in the land of the "temporary" sales tax, income tax, car tax freeze, etc., etc., etc., etc., etc., etc., etc. we are going to get investors to "trust the General Assembly" not to yank away those tax credits the minute it becomes advantagous to the moocher/looters?
This is BEYOND laughable.

Posted by: Mike at November 6, 2008 4:34 PM
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