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Founder Of Iowa Think Tank Talks Taxes With Coon Rapids Rotary

Mayor of Cedar Rapids, Ron Corbett, started a conservative think tank last year called Engage Iowa and said they have identified an initial focus on three major issues: education, the economy and the environment, with their first posted policies on income tax and water quality. He was in Coon Rapids yesterday afternoon to speak to the Rotary Club about a research report developed by Iowa State University Economist, Dermot Hayes, that talks about how Iowa income tax is not fair, competitive or simple. This, Corbett said, is a wealth issue for our state as we have lost over $4 billion dollars in wealth to other states in the past 20 years. It is not uncommon to see people to move to Florida or Arizona for the climate, but what about all the others, he asks.

Iowa has one of the highest tax rates in the country, with 46 other states more competitive than we are.

Until we do something, Corbett said, we will continue to lose wealth. The solutions Engage Iowa is proposing are presented in the report; one of which includes implementation of a flat tax. Over the years, he said, Iowa has given various deductions and credits, creating a system where millionaires pay a lower rate than someone earning $40,000 a year.

As one of the most complicated tax systems in the nation, people are having to pay to get their taxes done and simplification in addition to a diminished gap is key to being competitive in drawing in and retaining a quality workforce in our state. Corbett will be returning to our area in a few weeks to speak with the Carroll Rotary. We will bring you more details on that event as they become available. For more information on Engage Iowa and the income tax report, log on to www.engageiowa.org.

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