POV | Kentucky's Tax Code Must Change - WDRB 41 Louisville News

POV | Kentucky's Tax Code Must Change

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I recently had a conversation with a high-ranking executive of a Fortune 500 company headquartered here in Louisville.  I told him I hoped his company was happy here because we need more corporate headquarters in Louisville, not fewer.  His response was not especially encouraging.  He said, “Kentucky makes it very hard for a business to be here.  This is a very unfriendly environment for business.” 

We all know that, but we don’t seem to have the will to fix it.  A big problem is the antiquated tax code which our legislators ferociously protect.  And this selfish, incompetent governance has been holding Kentucky back for decades. 

To get businesses to relocate here, we need to compete with states like Tennessee and Florida.  And we do that by getting rid of our state income tax.  We need a local option sales tax so citizens in cities and towns can tax themselves a couple pennies if they believe they have a project worth funding. 

Our antiquated tax code is why we aren’t attracting more big businesses here and the jobs that come with them.  It’s why Louisville, while very healthy and bustling, isn’t growing while cities like Nashville are booming. 

But is it our backwards legislators who are to blame?  Or are we the ones because we keep electing them?  There’s plenty of blame to go around.

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

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