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Money, illusion and the state budget
Indiana’s legislative session addressed some of the most vexing public problems the state faces: hospital monopolies, housing, collapse in college attendance and a slew of social issues. But one aspect of the session is worth considering above all else — the state budget — because of its broad effect on almost everything else. It has […]
Calling out Indiana’s venture capital hospitals
Indiana has long had not-for-profit statutes that permit firms to operate free of taxes. The legislative language on the purpose of a nonprofit is intentionally vague. The General Assembly wisely knew that there were too many different reasons for creating a not-for-profit entity, from youth sports and church daycare to hospitals. However, the best Indiana […]
Time for a review of Indiana’s tax system, spending
The legislature is poised to commence a two-year study of our tax system. There are many fine reasons to launch this process. While Indiana’s tax system is generally sound, there are numerous small matters that require improvement. Overall, tax revenue growth doesn’t keep pace with the growth of the economy or the demands of public […]
Workplace safety problems a window on deeper concerns
The Indianapolis Star recently published a lengthy expose of Indiana’s workplace inspection program. The authors detailed what appears to be COVID-specific failures that caused Indiana to plummet into last place nationally with safety inspections. This report darkens what was overall a superb COVID response by Gov. Eric Holcomb’s administration. The drop in safety inspections accompanied […]
It’s quality of life, not cost of living
Simple economic ideas aren’t really very hard to understand. So, I’m often puzzled to hear folks make the claim that Indiana’s low cost of living is an attractive feature. It is not. A low cost of living is actually evidence of chronic economic problems, and is maybe the last thing anyone should want to claim […]
Inflation, Money Illusion and State Budgets
One revelation from this bout of inflation is that many folks, from all walks of life, have no earthly idea what is happening. In turn, they have little idea what to do, or how to think about the future. Nowhere is this more telling than in the way in which taxes and budgets are debated. […]