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Here we go again

Corporations once again give a big middle finger to Government incentives. It would be great to get rid of incentives but when 50 separate entities (States) are competing against each other that will never work. Not to mention other Country's.

Fidelity is closing down the Malborough facility because Rhode Island is giving them a better deal than they had in MA.

It is a viscous cycle.

1). Give Corporation X tax incentives.
2). Watch Corporation X funnel that money into their bottom line to boost SHV.
3). See Corporation X move to another State or Country based on the bottom line.
4). Rinse and repeat :mad:

Quote:

The chief executive of Evergreen Solar says his company has no plans to give back $20 million in state corporate incentives, despite its recent decision to close a plant in Devens and lay off 800 workers.

Michael El-Hillow told the Senate Post Audit and Oversight Committee on Tuesday that Evergreen has met 85 percent of its employment obligations to the state, and still has five years to reach the remainder. El-Hillow said the company moved manufacturing to China to save labor costs.

Officials from Fidelity Investments have also been called before the panel to explain its recent decision to move 1,100 jobs out of Massachusetts, despite enjoying tax breaks since 1996.

Committee chair Sen. Mark Montigny said the hearing is not intended to be an "inquisition" but to improve job creation policy.

Evergreen Solar does not plan to give back $20m in incentives

Re: Here we go again

If a government is going to give a company financial incentives, it's on the pols to make sure they write the contracts so as to properly achieve their goals.

Re: Here we go again

Quote:

Originally Posted by chicowalker (Post 2509897)

If a government is going to give a company financial incentives, it's on the pols to make sure they write the contracts so as to properly achieve their goals.

Sad but true for our tax dollars. Has any State done this?

Re: Here we go again

Get rid of corp taxes and 'incentives', handouts, tax breaks, subsidies, and all the rest.

When a state or country is a difficult place to do business businesses leave.

This article from T Sowell expands on the point and includes the migration of productive people away from lib dominated states to low tax states.

http://www.investors.com/NewsAndAnal...tm?src=SeeAlso

Quote:

Treating businesses and affluent people as prey, rather than assets, often pays off politically in the short run — and elections are held in the short run. Killing the goose that lays the golden egg is a viable political strategy.

....

The latest published data from the 2010 census show how people are moving from place to place within the United States.

In general, people are voting with their feet against places where the liberal, welfare-state policies favored by the intelligentsia are most deeply entrenched.

Re: Here we go again

So...

Tax the corps and they run. Throw money at them and they horde it. Damned if you do and damned if you don't then, eh?

Re: Here we go again

Quote:

Originally Posted by patsfan13 (Post 2509965)

Get rid of corp taxes and 'incentives', handouts, tax breaks, subsidies, and all the rest....

Bingo. Although, not surprisingly, you fail to point out that while pubbies are all for cutting taxes, they're big on incentives, subsidies and other corporate welfare.

Quote:

Originally Posted by patsfan13 (Post 2509965)

...This article from T Sowell expands on the point and includes the migration of productive people away from lib dominated states to low tax states...

Not much of an article, as it is remarkably devoid of facts or figures. More of a commentary / opinion column.

Re: Here we go again

Quote:

Originally Posted by Nikolai (Post 2509974)

So...

Tax the corps and they run. Throw money at them and they horde it. Damned if you do and damned if you don't then, eh?

That's why the pols should do neither. Make it easy to run a business. Keep regs in place for safety, pollution, etc., but eliminate more of the red tape.

When pols try to get greedy or clever, they lose. The former because companies have options (and are more greedy ;) ). The latter because the companies are smarter and have smarter lawyers.

Re: Here we go again

See, I don't think any specific industry or business should get an individualized break. Either you lower taxes and regs for all businesses, or you don't. Giving Chico Corp a break while Gainzo Industries is stuck paying the full price seems unfair to me. I've been on both sides of this issue and it's changed my mind of what I once used to think was good policy.

Re: Here we go again

Quote:

Originally Posted by chicowalker (Post 2509976)

Not much of an article, as it is remarkably devoid of facts or figures. More of a commentary / opinion column.

Yep....that's why it's on the EDITORIAL PAGE, something 13 seems to have trouble understanding sometimes.

Re: Here we go again

Quote:

Originally Posted by chicowalker (Post 2509978)

I agree with this post!