POV | Kentucky "Stuck in 1958" (7/24/14) - WDRB 41 Louisville News

POV | Kentucky "Stuck in 1958" (7/24/14)

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"Stuck in 1958."

That was how economist Paul Coomes described Kentucky policies regarding wealth distribution in an address earlier this week. He pointed out that our current per capita income ranking at number 46 among all states hasn't changed in over 55 years. And he explained why.

The number one reason is Kentucky's stubborn insistence on redistributing far too much of its wealth from the areas with the most population and occupational activity to rural areas.

This has resulted in absurd situations like the maintenance of separate state government centers, school systems and wellness centers in virtually every county, even though many of these could be merged into multi-county operations that would be far more efficient and cost-effective.

And even though we aggressively prop up Kentucky's agriculture industry, agriculture only makes up about one percent of our overall economy while industries like manufacturing make up 14 percent.

Coomes thinks local sales tax options and lower state income taxes would help by creating a much more business-friendly climate in Kentucky’s major economic regions, and I agree. It's time we stop starving the many for the benefit of the few and start dealing with the realities of this century instead of living in the past.

I'm Bill Lamb and that’s my Point of View.
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