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05-22-2007, 12:22 AM
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#1 (permalink) |
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GMI Staff Member
Join Date: Jan 2003
Location: SE Texas
Posts: 13,430
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Bill to help GM's Shreveport Plant Save More than Half a Million Dollars
Blanco expected to sign off on General Motors' bill
Posted: 05/21/2007 KTBS-3 www.ktbs.com A bill that could help Shreveport's General Motors Plant get another truck line is on its way to Governor Kathleen Blanco's desk. Late Monday, the senate gave final approval to the bill which calls for the immediate phase out of sales taxes automakers in Louisiana pay on equipment and machinery. This will save GM more than half a million dollars. More: LINK 
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Last edited by Ming : 05-22-2007 at 10:27 AM. |
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05-22-2007, 12:40 AM
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#2 (permalink) |
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3.9 Liter V6
Join Date: Oct 2004
Location: SoCal
Posts: 994
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
Holy poop!! So I guess Louisiana is really hoping to draw in more automotive manufacturing. Probably a smart move; it could help make up for the people displaced by Katrina. Could GM have really spent so much on equipment in Lousiana that just the sales tax would have been $500 million? I don't know what the sales tax rate is in Lousiana (or if it's different for capital expenses) but in most of SoCal it's 7.75%. Applying that rate equals.....quickmath.....$6,451,612,903 in plant and equipment. That can't be right, can it?
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Blah blah blah....green green green....global warning....blah blah....carbon footprint....green green....blah blah....catch phrase...talking head...blah blah blah Last edited by JVal14 : 05-22-2007 at 12:50 AM. |
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05-22-2007, 12:46 AM
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#4 (permalink) | |
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6.0 Liter LS2 V8
Join Date: Sep 2006
Location: Omaha Nebraska, USA
Drives: '08 Malibu LT
'94 Plymouth Voyager
Posts: 4,887
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
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05-22-2007, 01:20 AM
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#5 (permalink) | |
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7.0 Liter LS7 V8
Join Date: Nov 2004
Location: Caveville, Neanderthallande
Drives: 2007 black KIA Spectra EX. Have club, will travel.
Posts: 8,947
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
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REJOICE.  edit: BTW, that idiot's still governator and not in prison for gross negligence, malfeasance and incompetence?
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The national budget must be balanced. The public debt must be reduced; the arrogance of the authorities must be moderated and controlled. Payments to foreign governments must be reduced, if the nation doesn't want to go bankrupt. People must again learn to work, instead of living on public assistance. Cicero (106 BC - 43 BC), 55 BC Last edited by LAMRONH : 05-22-2007 at 01:38 AM. |
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05-22-2007, 01:22 AM
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#6 (permalink) |
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Firebird Concept (the turbine one)
Join Date: Mar 2005
Location: Houston, TX
Posts: 11,271
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
Thanks?! =D
This half a billion should not have even been charged in the first place.
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I'll make a new sig. Later. |
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05-22-2007, 08:00 AM
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#7 (permalink) |
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6.0 Liter Vortec V8
Join Date: Nov 2004
Drives: 03 GMC Savana
91 Honda CRX
Posts: 1,688
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
Given that LA ranks near the bottom on so many measures like public health (49th in infant mortality), public education, etc., that tax money could be put to good use.
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05-22-2007, 08:35 AM
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#9 (permalink) | |
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7.0 Liter LS7 V8
Join Date: Sep 2005
Location: Philadelphia Area
Drives: 08 CTS DI RWD Nav, 08 Sienna Limited AWD Nav
Posts: 5,639
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
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I remembered reading something about this a few weeks ago and thinking that it didn't sound like much money. For GM to save a half a billion in sales tax (i.e. $500 million), at Louisiana's 4% tax rate, they would have to spend $12.5 BILLION on equipment for plant upgrades. I don't really see that happening. I wonder what the new truck model is? H3 SUT or H4? |
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05-22-2007, 09:13 AM
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#10 (permalink) |
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3.9 Liter V6
Join Date: May 2006
Posts: 770
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
It's good to hear that an American company gets the same courtesy as a Japanese company. If I were Gov. of any state I would make it as hard to manufactor here the same way we are treated over there.
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05-22-2007, 09:34 AM
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#12 (permalink) | |
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3.5 Liter V6
Join Date: Jan 2006
Location: Jackson, MS
Drives: 2004 Acura TSX
Posts: 234
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
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05-22-2007, 10:01 AM
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#13 (permalink) | |
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3.5 Liter V6
Join Date: Feb 2003
Posts: 265
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
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05-22-2007, 10:21 AM
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#14 (permalink) |
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7.0 Liter LS7 V8
Join Date: Aug 2005
Location: NC
Drives: 2006 Chevy Silverado Crew Cab Z-71
Posts: 7,887
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
Sweet, now if only GM would put that money into updates for the poor Colorado and Canyon they'd be doing even better!
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Banking establishments are more dangerous than standing armies. -Thomas Jefferson |
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05-22-2007, 10:30 AM
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#15 (permalink) | ||
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GMI Staff Member
Join Date: Jan 2003
Location: SE Texas
Posts: 13,430
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Re: Bill to help GM's Shreveport Plant Save More than Half a Billion Dollars
Quote:
Quote:
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