(A brief discussion twixt Baer & Baer's editor, a.k.a. BE)
JB: I think I need another degree, like maybe a Wharton MBA.
BE: You mean because our industry's going down the drain and you need a new career?
JB: Well that, yeah. But meantime, just trying to figure out some of this state budget and tax stuff makes my head hurt.
BE: Kind of like what happens to me when I edit your column.
JB: Well, try this: The controversy over state revenue loss from coupling with the federal corporate expensing provision.
JB: My point exactly. Apparently it's a big deal. From what I can gather, part of the congressional tax compromise back in December allows states to join the feds in permitting corporate taxpayers to deduct all capital expenses for machinery and equipment through 2011.
BE: Um, OK.
JB: Our state Department of Revenue says that will cost PA $200 million in lost business taxes.
BE: In other words, a business tax cut at a time we're cutting social services, health-care for the working poor and schools funding.
BE: That's a pretty big difference. Who's right?
BE: Yeah, but who's right on this?