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IOWA PUSHES FOR RETURN TO THE TOP 10

April 06, 2007

The University of Iowa basketball team is making a bid to return to the "sweet 16" by hiring a new coach.

Iowa itself is making a bid for the "sour 16" -- to be one of the 16 states with the heaviest state and local tax burden, measured as a percentage of income. Disappointed with the 18th place ranking in the latest Tax Foundation ranking of tax burdens, the state is making its push to move up. As recently as 1990, Iowa had one of the 10 heaviest tax burdens, but complacency set in. No more:

- A new cigarette tax is slated to raise $129 million per year.
- A push for "combined" corporation reporting is attempting to increase Iowa business taxes.
- Central Iowa may do it's part if it votes to approve "Project Destiny," a project to increase the sales tax rate in central Iowa to 7%.

Sure, loopholes are being carved out to help the well-connected; after all, what are friends for? But with only 6/10 of a percent of income separating Iowa from number 10 New Jersey, and only 1/10 percent separating us from the sour 16, Iowa is definitely going for it.

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