Americans have been busily preparing their federal tax returns for the national ritual of the April 15 tax due date.
Americans are a tax-compliant people and believe everyone has an obligation to contribute to the federal government to provide needed services. But there is one group that believes they have no obligation to pay federal taxes. In fact they believe they are entitled to a tax-free existence and that others should pay their way.
These are the credit unions of Louisiana and across the nation that are protected by federal laws to exempt them from federal and state taxes. And the credit unions have a team of lobbyists in Washington, D.C., whose top priority is to maintain this crony capitalism of getting all the benefits of the United States without paying anything to support it.
Louisiana’s community banks, where Louisiana people work and are active in their local communities, pay their own way. Credit unions should join the rest of Louisiana’s businesses and pay their fair share.
Robert T. Taylor, chief executive officer
Louisiana Bankers Association