Des Moines public officials think a fancy new convention center hotel is just what we need to hang with the cool kids, reports KCCI.com:
A plan to build a four-star hotel next to Hy-Vee Hall and Wells Fargo Arena won’t happen unless Des Moines city leaders can convince the state’s economic development authority to fork over millions in tax incentives for the project.
Des Moines Assistant City Manager Matthew Anderson said this week is a prime example that proves why a hotel is needed next to the Iowa Events Center.
Fans from across the state are coming to downtown Des Moines in droves to cheer on their favorite teams at the boy’s state basketball tournament.
Cindy Curran said there’s something missing. “Accommodations to stay overnight,” said Curran. “A nice hotel with restaurants in there, amenities to go with that.”
A casual reader could be forgiven for thinking that there are no hotels within a few blocks of Wells Fargo Arena. They might think that the Des Moines Marriot Downtown, with its own nice restaurant and bar, had suddenly vanished. They might think the historic Renaissance Savery Hotel, home of Bos Restaurant, had closed down. They might think the new Hyatt Place in the Liberty Building had already failed. And has the historic Hotel Fort Des Moines and its Django Restaurant disappeared after all these years?
Nope, they’re all going strong, and all still connected to Wells Fargo Arena by an enclosed all-weather skywalk system. In fact, Downtown Des Moines has more restaurants and places to stay than ever. They need a new competitor, apparently, but one that can’t happen without $34 million in
subsidies tax incentives.
If a business can’t happen without taxpayer subsidies, that’s a sure sign that it shouldn’t happen in the first place. Convention centers have been a money pit for governments around the country, as the think tank Heartland Institute reports:
As convention planners seek to have large new hotels and related facilities built for their events, taxpayers are often stuck footing the bill for what could be a building that sits empty much of the year.
It’s always easier to support a new business when you invest somebody else’s money.
Related: The Convention Center Shell Game.
Iowa’s IRS stakeholder liaison privatizes herself. From the Iowa State University Center for Agricultural Law and Taxation:
CALT is pleased to announce that Kristy Maitre, the former IRS Senior Stakeholder Liaison for the State of Iowa, has joined our staff. Kristy brings 27 years of IRS experience to her role as CALT’s new tax specialist.
Practitioners who have attended our seminars are already familiar with Kristy and her vast breadth of practical knowledge of tax and estate planning. Kristy has taught hundreds of continuing education classes to tax practitioners around the country. At CALT, she will continue to offer training through live seminars, but will expand her reach with frequent webinars and other educational offerings through the CALT website. Stay tuned as CALT will soon unveil more exciting changes enabling us to better serve the tax practitioner community.
Great news for Kristy and ISU-CALT, bad news for IRS service.
William Perez, Free Tax Software Available Through IRS Free File
Russ Fox, Regulating Tax Preparers Always Prevents Tax Preparer Fraud (Not True, of Course)
TaxGrrrl, It’s No Toke: Colorado Pulls In Millions In Marijuana Tax Revenue. I think popular support for pot prohibition, with its attendant violence, prison crowding, and other social costs, will continue to decline. At some point the lure of revenue will overcome the reflexive instinct of politicians to preserve control over things.
Jason Dinesen, What’s So Bad About More People Preparing Their Own Taxes? “My goal is to have clients who actually need a professional preparer, or at the very least, people who could prepare their own taxes but who like the comfort provided by having a professional take care of it for them.”
One of these is not like the others Filing season 2014: Death, taxes, root canals and refunds. (Kay Bell)
Carlton Smith, Tax Court dodges CDP record rule ruling (Procedurally Taxing)
Jim Maule, Cracking the Tax Protest Movement. “The unfortunate thing about the tax protest movement is that most of the people in it are vulnerable folks who fall for the siren song of the ringleaders, just as those who support special tax breaks, even without benefitting from them, have fallen for the siren songs of those who procure special tax breaks for themselves and their clients.”
Joseph Henchman, Idaho Considering Complicated and Gimmicky Job Creation Tax Credit. (Tax Policy Blog) The best tax incentive is a simple, low-rate tax system without gimmicky incentives.
Martin Sullivan, If the Camp Tax Reform Bill Won’t Pass, Why Is It So Important? (Tax Analysts Blog):
The Camp discussion draft has changed the tax policy landscape like no other single document in the last three decades, for two reasons. First, it has burst the bubble of all the feel-good tax reformers who have been wasting our time promoting unrealistic tax plans. The Camp plan is the ultimate reality check on tax reform. It is far more complicated and painful than marketers of tax reform have told the public to expect. It is unlikely that any realistic tax reform would be any shorter or sweeter than the Camp draft.
The second reason the Camp reform is monumentally important is the extensive and detailed workmanship that went into it.
I’m not convinced — I think the initial draft of a tax reform plan should be a lot more idealistic. The cynical, politically-necessary modifications will arrive soon enough on their own, and conceding so many of them up front only invites more.
Jeremy Scott, Camp Hits Popular Deductions Hard (Tax Analysts Blog). “The elimination of the state and local tax deduction is one of the larger revenue raisers in Camp’s plan.”
TaxProf, The IRS Scandal, Day 306
When the law interferes with people’s pursuit of their own values, they will try to find a way around. They will evade the law, they will break the law, or they will leave the country. Few of us believe in a moral code that justifies forcing people to give up much of what they produce to finance payments to persons they do not know for purposes they may not approve of. When the law contradicts what most people regard as moral and proper, they will break the law–whether the law is enacted in the name of a noble ideal such as equality or in the naked interest of one group at the expense of another. Only fear of punishment, not a sense of justice and morality, will lead people to obey the law.
Milton Friedman, via David Henderson.
News from the Profession: The Profession is Really Reaching For the “I Still Let My Mom Pick Out My Outfits” Demographic (Going Concern)