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BA Deere
Honored Advisor

Iowa`s Flat Tax worries me a bit.

The politicians spend money and that ain`t gonna change, but how we pay it can matter.  I`ve seen it before politicians "cut taxes" and high five each other on it only to shift the costs down to the county level, then they nail us with property tax.   You can`t wiggle out of property tax.   With the state income tax, if you don`t make the money, you won`t pay the tax, which is fair ... however most high paid city people like to hear "tax cuts" and don`t notice their McMansion property tax going up a couple hundred bucks. 

Being in Iowa, I shouldn`t complain about $30 land tax, as Minnesota is $60 and Nebraska is $100, but that must really suck during times of $3 corn, I don`t know how Nebraskans handle it.   I hear the one reasonable tax California has is their land tax and the one high tax Texas has is their property tax. 

I know during these times of $16 beans and $7 corn we don`t want to pay income tax on it.  But the day will come when corn will be $3 again and just so Iowa`s property tax isn`t as bad as Nebraska`s. 

https://www.desmoinesregister.com/story/news/politics/2022/03/01/iowa-flat-tax-cut-bill-signed-law-g...   

6 Replies
Hobbyfarmer
Honored Advisor

Re: Iowa`s Flat Tax worries me a bit.

I am waiting for a talking head to come out and want to investigate these exorbitant farm profits.

Obviously no shortages as claimed by the lines at the train loaders, end users, and coop shut off new sales delieveries.

Eplant may not be open tomorrow.

Train loader shut off bean delievery.

Coop no spot delievery.

All about full to the gills.

2 hr wait at bean plant first half of the day.

A new $32,000 grain trailer now costs $48,500.

Maybe we need less fertilizer?

 

Edit.

At the bean plant still quite a few farmers mixed in the line. But majority are delivering from elevators.

Wonder what % of that is  $10 something beans off of combine at harvest just getting delievered?

I'll bet very small % were over $15.50 in line last few days. As March delievery of forward contracts is happening.

k-289
Esteemed Advisor

Re: Iowa`s Flat Tax worries me a bit.

The  $100  an  acre  state  officials  campaign  every  election  year  on  property  tax  reduction  ,  with  a  disclaimer  of      '' it  will  be  an  on  going  process '' , meanwhile  a  tax  cut  bill  for  upper  &  moderate  earners  is  attempting  to  move  through  the  legislator  committees  -  -  -

Cornhusker   population - stagnation  is  in  the  professional ,  hand  wringing ,  annual  process ,  with  youth  exiting  via  I-80 &  every  south  bound  route ,  which  includes  hunting - outdoors outfit - Missouri , stock investments  outfit - Texas , and  an  a  food - agra  business  to  Chicago - while  the  do  it  CHEAP'rrr  talk  rambles  on  -  -  -

Migrant  workers,  being  the  1  of  the  growing ,  school  attendance  census - - -   

0 Kudos
k-289
Esteemed Advisor

Re: Iowa`s Flat Tax worries me a bit.

I  noticed  an  add-ver-tease-ment  of  a  grocery  chain  ''' Indy  Car '''  ,  leaves  one  asking  if  covid$$'s  are  the  sponsor  - maybe  -  ?    ?  or  Tax  deduction   $$$$   at  work ?   ?  or  unfortunate ,   board  room  timing  -  -  -  

Hobbyfarmer
Honored Advisor

Re: Iowa`s Flat Tax worries me a bit.

yeah I WAS NOT one bit impressed by that ad.

Totally frivolous use of food money.

Usually my last choice place to do my hunting and gathering even before that.

"A helpful smile in every aisle"

As they pick my pocket.

elcheapo
Senior Advisor

Re: Iowa`s Flat Tax worries me a bit.

In kansas we have a land use/production value system...it is based on a 5 year average....so just wait, think things bad now, wait untill the average kicks in.....in a few years....high tax, low grain prices, high input cost.

A "few" years back, i remember one of the big name tea leaf readers, said we were in a new paradine...things were going to get better, grains were going to stay high.......well a year or two later, grain market down.

BA Deere
Honored Advisor

Re: Iowa`s Flat Tax worries me a bit.

Hy-Vee is a sorry excuse for a grocery store, they`re high priced, nauseating commercials, during the 2020 summer riots they had a banner in supporting Rioter`s Lives Matter.  They gave that outfit $3 million or some outrageous donation, why not get out of politics and source some good apples for a change???

 I like Fareway, they give their employees Sundays off, it has top quality meats, reasonable prices and not a political arm of the DNC.

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