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Our state’s “Roads Scholar” has proposed one major, substantive, initiative since he took office in January, 2008. It was changes to our “Heh, Heh, Heh, Ethics Code. It was supposed to open the door for economic development in our state.

Now, almost two years later we see the result of that initiative.

The new code which is unenforceable, has become the “Hah, Hah, Hah, Ho, Ho, Ho,” Ethics Code.

LA’s Economic scorecard

“Watchcat” (a complimentary term) Robert Travis Scott provides us with the scorecard of our state’s economy. See story here.

A few excerpts:

—For the first time in 22 years, state personal income tax collections declined on an annual basis in fiscal year 2009.

—The rolls of people receiving jobless benefits is double the number a year ago.

—The number of households on food stamps has risen 24 percent in two years — 10 percent just since June.

—Sales taxes that flowed into the state general fund from July through October were down 17 percent compared with the same period last year.

—Personal income tax revenue was down nearly 10 percent,[only partially attributable to a recent tax cut] and corporate income tax revenue fell 25 percent.…

The article notes that “Sales tax and corporate tax collections [are] key measures of business health.”

The money used by “The Roads Scholar” to bribe businesses to come to our state is running dry.

It’s just as well because the ethically-challenged, head of economic development, Stephen Moret can’t even bribe an existing business to remain there.  We just learned that the headquarters of substantial business is moving from Baton Rouge to North Carolina. ( See story here.)

Where’s the plan?

Moret’s response to all the above is: “Our announcement trend is very good….”

Announcements don’t improve the economy.   Specific initiatives, such as business tax and regulation reductions do.

Where’s the plan?

C.B.