Governor Jindal said eliminating income taxes and loopholes would have six benefits, including:
- Eliminating income taxes would make Louisiana the best place to start a business. A new study shows that eliminating income taxes would boost business investment in Louisiana by more than $180 million and create nearly 12,000 new jobs on top of the jobs that are already forecasted to be created.
- Eliminating income taxes will give more control to the taxpayer. Taxing what people spend instead of what they earn gives taxpayers more control over their own money. A study showed that eliminating income taxes would increase disposable income nearly $1.8 billion – or more than $900 extra for each Louisiana household.
- By overhauling the tax code and eliminating income taxes and loopholes, everyone will pay their fair share, but no more than that.
- Loopholes will be closed so powerful special interest groups will no longer be able to rig the system.
- Food, prescription drugs and utilities will be protected from increased sales taxes.
- Switching to a sales tax base will bring more stability in funding for government services.