Iowa (The Forward Thinking State)

On 650 Talk Radio, Murray Wood spoke to a news director from a radio station in Iowa (one that we do business with at work) regarding a proposal to offer no income tax on income on people under 30 years of age. I have thought that this would be a great idea for several years.

There are three benefits to doing that in any province/state/nation. First, these people turn their income around. They need their first car, their first home, and other pocessions. This will generate more economic activity.

The second element is that the draw will be there to keep the young people here and to act as a brain drain to the surrounding areas.

The third element is that the young people coming out of college and tech schools are faced with a high debt load. The lower taxes can advance the paying off of those loans which will free them up for their 30's. Many people with degrees do not pay off their student loans until they are in their 30's so any help that way will again act as an economic catalyst.

It may be needed to afford a tax break to companies to relocate to Saskatchewan and generate jobs for young people.