If you were to ask Gov. Bobby Jindal what forces will be driving our state’s future prosperity, he’d likely blurt something along the lines of, “scrap our state and corporate taxes” or “shrink government spending.”
And that’s pretty unfortunate news, as the evidence for implementing Reagan-like economic policies to spur growth has proven to be ineffective.
It should be noted, however, that conservatives thank God everyday that Americans put zero stock in empirical data or facts that don’t align with their particular ideology.
Case in point: last year, Jindal nearly replaced the state’s income and corporate tax with a higher sales tax, despite the claims by most economists that his plan would cause income inequality to skyrocket, with marginal improvements in growth.
Ultimately, Jindal’s plan never came to fruition. That’s great, but it wouldn’t be unlikely to see him pull this stunt again.
So, if lowering taxes and, by extension, starving the government for public funds aren’t viable
answers, how can Jindal act to boost the economic well-being of Louisiana residents?
One word: education.
A report released last week from the Economic Policy Institute shows the states that invest most in education are overwhelmingly the states with both higher productivity and median wages.
Put another way, the state’s main prerogative should be fostering an environment where
high-quality education is accessible and affordable.
Unfortunately, Louisiana is not one of those states.
Why?
Because pursuing post-secondary education — where students acquire the necessary critical thinking and problem solving skills to get a high-paying job — is becoming increasingly unaffordable for the state’s residents.
During the last five years, Louisiana lawmakers have allowed education — specifically colleges and universities — to bear the majority of the state’s budget cuts.
Put concretely, the Legislative Fiscal Office reported last month that state funding for public higher education has been cut by 66 percent, or a little more than $1 billion dollars, since the 2009 fiscal year.
But hasn’t everyone tightened their belts a bit and lowered funding for higher education, as a result of the Great Recession of 2007?
Yes and no.
The American Association of State Colleges and Universities issued a report showing that 37 states plan to actually increase funding for public universities next year.
Louisiana didn’t make that list. But we are first on the list for the largest state-funding cuts to higher education, with a planned 17 percent reduction to next year’s spending budget, according to the AASCU.
So, with no end in sight to Louisiana’s damaging budget cuts, how can we ensure every resident, especially those with limited financial means, has a shot at the American Dream?
Here are three simple ways.
First, the TOPS program needs to return to the function of a need-based program.
In 1998, TOPS was transformed from a need-based program to a merit-based program, causing the state to spend a disproportionally large share of its monetary resources on those who could already afford college while providing relatively nothing to those who need financial help to have a chance at a college education.
Second, TOPS should actually award “merit,” moving above and beyond the ridiculous 2.5 minimum GPA requirement to a 3.0 GPA for scholarship qualification.
Third, the Go Grant Program, which awards need-based assistance, is significantly underfunded.
There should be more of a balanced funding between this program and TOPS, so that all income distributions are represented more fairly at state universities.
Gone are the days of Reagan when you could just tell people to get jobs and entice companies with low tax rates.
Without a whole lot of money, Louisiana needs to get creative when it comes to education.
Jay Meyers is a 20-year-old economics junior from Shreveport, La.