Scene one: Mike Pence, Republican, and his advisors lounge in air conditioning on a hot summer day. They have glasses of imported, cold sparkling water before them. They are bantering cheerfully about the coming campaign for governor against John Gregg, Democrat.
“Let’s throw the bomb,” says one.
“Isn’t it early?” asks another. “Mike did say no policy statements until later.”
“Well, it is later, technically,” says the first, “and no matter. Our campaign song should be ‘Now, not some forgotten yesterday. Now tomorrow is too far away.’”
“Never,” shouts the third advisor. “That song is from Broadway’s ‘La Cage aux Folles,’ a musical favorable to homosexuality.”
The first sips from his glass. “The bomb,” he says. “Let’s keep focused. Now, when no one is looking, we toss the bomb. Mike sweeps the headlines. He grabs the high ground and Gregg is left throwing nut shells at our fortress position.”
“The bomb is beautiful,” he continues. “Lower income tax rates and make the individual and corporate rates the same. You can’t get any more bang than that.”
“It will be sensational,” admits the second. “It makes folks happy and it allows us to continue crippling government services while giving more tax breaks to our friends in big business.”
“Business friendly is what we are,” the third chimes in.
Scene two: John Gregg’s sun-baked front porch in Sanborn. Political advisors sit about using newspapers as fans. An empty lemonade pitcher sits on a nearby table. John is heard inside on the telephone.
“Well,” says the first advisor, “they really dropped the bomb on us.”
“Bomb?” says the second. “It was more like a trash bag filled with rotten veggies. We’re not destroyed or even hurt; we’re just left cleaning up the mess.”
“And what a mess it is,” says the third advisor. “Individuals and corporations in Indiana pay very little in income taxes already. Generous credits and deductions see to that.”
Advisor one looks furtively at the door then cocks an ear to make sure the candidate is still on the phone. “Then why,” he asks in a whisper, “did John issue that weak-kneed response to Pence’s proposal? If your opponent says something outrageous, you need to respond with outrage.”
“John’s too much the quiet hometown guy to do that,” the second says.
“Hometown quiet,” the third says, “is not what we need. Listen to John’s response to Pence: ‘I support tax cuts as does every Hoosier living, dead and not yet born.’ OK, that’s almost funny. Good, light touch. But then he goes on and cites his anti-tax stand in legislatures past.”
“What’s wrong with that?” says the second.
“First,” the third answers, “the past was a different time when tax cuts may or may not have been good policy. Second, securing fiscal stability should be a priority. Tax cuts threaten revenues that may be needed in hard times.
“Third, there is no reason for the tax rates of corporations and households to be the same. It’s just a big gift to the corporate contributors who are behind our opponent. Fourth, according to the current administration, Indiana is already so friendly to business that firms are flocking to locate here. What is to be gained if we are so well-positioned already?
“Fifth and foremost, Indiana suffers from a deficit of neglect. We have both deficiencies in maintenance and denial of services to those in physical, emotional and material need. If there are ‘spare’ revenues, don’t benefit the affluent when our state has decades of governmental delinquency to overcome.”
Scene three: A solitary Hoosier stands under a sycamore tree, immobilized by inaction yet pondering possibilities.
Fade to black.
Morton Marcus is an independent economist, speaker, and writer formerly with IU’s Kelley School of Business.
Business
Mike Pence tax program: Good theater, bad policy
- Business
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- RESTAURANT INSPECTIONS: May 21, 2012
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EYE ON THE PIE: Use to be close tie between output, employment
Crusty Crawford joined our lunch table with a pronouncement. “We’ve always assumed a close tie between output and employment,” he said. No one responded.
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Employer opinions sought on students
A joint venture between Ready Indiana and the Indiana Department of Education is seeking employer input that will impact how Hoosier high school students are equipped for the workforce.
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Carlisle prison marks 20th anniversary
2012 marks the 20th year of service for the Wabash Valley Correctional Facility, going on line with its first offenders Dec. 10, 1992.
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SOCIAL SECURITY: Why young workers should care about Social Security
Summer will be here before we know it.
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BUSINESS CENTS: Does your staff understand pricing?
Many companies feel as though their staff will follow instructions and implement price strategies as instructed.
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Valley Child Development Center receives grant
Valley Child Development Center has been awarded a $5,000 grant from the Terre Haute Day Nursery Foundation through the Wabash Valley Community Foundation.
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Exec offers advice on becoming startup entrepreneur
Sam Clemens, chief product officer of Cambridge, Mass., startup company Insight Squared, gave Rose-Hulman Institute of Technology students insight on how to develop a startup business.
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Newsmakers: May 20, 2012
Leland Phipps, family practice physician at Paris Community Hospital/Family Medical Center, has been re-elected to membership with the American Academy of Family Physicians.
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Alumna to serve as VP for Rose-Hulman Ventures
Rose-Hulman Institute of Technology alumna Elizabeth M. Hagerman is returning to her alma mater to serve as vice president for Rose-Hulman Ventures, the institute’s successful innovation space that has spawned careers and entrepreneurial enterprises throughout Indiana.
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Summer Sidewalk Sale set
Marshall Main Street’s Downtown Summer Sidewalk Sale is planned from 8 a.m. to 2 p.m. June 9.
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Oil drops to lowest level in 6 months
The price of oil dropped to a six-month low Tuesday on concern that economic uncertainty in Europe could hurt demand for crude.
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Adidas initiative: ISU students develop business improvement process at facility
As Indiana State University students cruised Interstate 70 on Friday afternoons from Terre Haute to Indianapolis, they were looking forward to reaching their destination.
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BUSINESS BRIEFLY: May 13, 2012
An evening of networking and education for Clark, Crawford and Edgar counties regarding branding, marketing and tourism development opportunities is planned for 6:30 p.m. May 21 at the Heath Museum on the square in downtown Robinson.
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Wendy’s partners with Riley Hospital
For just $2, customers at participating Wendy’s restaurants in the Evansville/Terre Haute area can get free Jr. Frosty desserts through Dec. 31 while supporting Riley Hospital for Children at Indiana University Health.
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Marshall Chamber to stage annual golf outing
The Marshall (Ill.) Chamber of Commerce invites golfers to its annual golf outing scheduled for June 8 at the Marshall Golf Course.
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ON THE MOVE: May 13, 2012
McKenze Rogers has joined Williams Randall as an account supervisor.
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Seminar teaches seniors to fight fraud
The Federal Trade Commission estimates that 25 million Americans are victims of consumer fraud each year.
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EYE ON THE PIE: Economic tools for consumers, workers, business owners, officials
My friend is a carpenter. He has two heavy boxes of tools and several other containers with stuff.
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SOCIAL SECURITY: Potential Medicare savings for mom
Given the current economic climate, buying a nice gift for Mother’s Day may be more difficult than in years past.
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‘Best Places to Work’ honored at banquet
Companies raising the bar with their workplace practices were recognized on May 3 at the Indiana Roof Ballroom by the Indiana Chamber of Commerce.
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NEWSMAKERS: May 13, 2012
Susi Willis, CPA and partner in Larsson Woodyard & Henson, LLP, was recently presented with the Distinguished Service Award by the Indiana CPA Society at its annual CPA Celebration at the Indiana Roof Ballroom in Indianapolis.
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Indiana Rail Road wins Family-Friendly Award
The Indiana Rail Road Co. has won the Terre Haute Chamber of Commerce’s “Family-Friendly Business Award” for 2012 based on the company’s highly successful employee wellness program.
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Government cuts summer gasoline price forecast
The government says gasoline will be cheaper this summer than previously expected thanks to a drop in the price of oil.
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Mall operator becomes biggest real estate company
The nation’s largest shopping mall operator is now also the country’s largest real estate company.
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Dealership to celebrate first year
The 500 Automotive Group in Clinton will celebrate its first year in business with an big birthday bash at the dealership on Friday and Saturday.
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EYE ON THE PIE: Compensation levels did not cause the recession
America is still fascinated with “The Price is Right.”
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Old National begins year with strong first quarter
Old National Bancorp reported 1st quarter net income of $21.7 million, or $0.23 per share.
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Enroll in disaster preparedness class
The University of Illinois Extension is offering a disaster preparedness course on May 23 for Clark, Crawford and Edgar county businesses called Ready Business.
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Newsmakers: May 6, 2012
• Dr. Haytham Mansour
• Terre Haute Regional Hospital
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