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Boeing likely to be a leader

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Here's a business practice likely to keep booming in 2014: corporate extortion.

We don't mean extortion of corporations, as is practiced by Somali pirates or entrepreneurial Russians. We mean extortion by corporations.

In this field the victims are taxpayers, and what makes it a beautiful business is that the taxpayers think they're getting a great deal, even as they're led to the shearing. And a lucrative shearing it is, for business: By the estimate of the Washington-based Institute on Taxation and Economic Policy, state and local tax incentives funnel $50 billion in tax revenue into corporate coffers every year. On a national basis, ITEP says, this is worse than a zero-sum game: The incentives are "much more likely to reshuffle investment between geographic areas than … to spur genuinely new economic activity."

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The fertilizer plant here in Iowa is an example. http://www.dailygate.com/article_d53409ce-6e4d-11e3-a56b-0019bb2963f4.html

A small business would never have gotten a 20 year pass on property tax, $200 million in tax incentives, and a $5 million road system built to it.

But if Iowa wants the plant and the jobs that go with it, we have to pay.

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corporate welfare :td:

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Posted (edited)

It happens here in the UK as it does in the US. Offering business 'incentives' such as this to set up is false economy and simply results in a greater concentrating of wealth - as I believe the article would imply if I could read it!

The link in the url is broken, qm. I believe it's missing the ":" after http.

Edited by Leonardo

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Posted (edited)

The link doesn't work for me but I will say this much. If boeing wants the next plane to have as many or more problems than the dreamliner then build it outside of Seattle. You know we make good planes here. Boeing never had the amount of issues with there planes when they were built entirely in Jet City baby.

Edit to add: people in Seattle sure are stuck up aren't they?

Edited by OverSword

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Tax breaks? Is that what this is about? They employ thousands at good wages, In case you havent looked around, those jobs are getting harder to come by. I say give all the manufactors the same tax breaks, who pay a decent living wage, and watch the companies come back.

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So you are saying we should regulate the tax breaks to make sure they are even from state to state? I guess that might be better than the current system of each state trying to out-bribe each other at the tax payers expense to land the jobs.

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