Breaking news

NYT: Tax incentives to businesses fail to produce net gains

Yet across the country, companies have been doing just that. And the giveaways are adding up to a gigantic bill for taxpayers.

A Times investigation has examined and tallied thousands of local incentives granted nationwide and has found that states, counties and cities are giving up more than $80 billion each year to companies. The beneficiaries come from virtually every corner of the corporate world, encompassing oil and coal conglomerates, technology and entertainment companies, banks and big-box retail chains.

The Times seems to be on the edge of a discovery that libertarians and other fiscal conservatives had known for years: a “beggar thy neighbor” approach to tax incentives accomplishes no good, achieves no permanent goals. But the paper misses the real lesson, even as it reports it:

In a few states, the cost of incentives is not significant. But several of them have low business taxes — or none at all — which can save companies even more money than tax credits.

See if you can grasp the concept that eludes the Times: states with lower corporate taxes can attract businesses without the use of special tax breaks. Certainly our own governor and legislature can’t grasp that idea* but then, as the article points out, this is all about politics, the desire of politicians to look as though they’re bringing jobs to their state and city.

And it’s about power: if you let everyone keep more of their money, you lose the ability to reward your friends and punish your enemies, and what’s the point of that? This may shock you, but politicians aren’t in the game because of their great love of humanity – the day of the gentleman farmer reluctantly heading to the new capital to volunteer his services for a short time are over, if they ever existed at all. We have a professional class of politicians now and they have no intention of returning to the fields, ever.

* According to this WSJ article, Malloy has increased these taxpayer giveaways 70% during his tenure.


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9 responses to “Breaking news

  1. Anonymous

    The NYT took many millions from NYC and the State for their new HQ. They also used eminent domain to force the owner to sell the property. Of course the Times has fired hundreds of folks since then.

  2. Walt

    Dude –
    You have to read this article by George Will about what is happening on college campuses across the nation? Which will obviously spread to the mainstream? It already has. Someone has decided ANYTHING that offends someone – anyone – must be stopped. Western Michigan University banned “sexism,” including “the perception” of a person “not as an individual, but as a member of a category based on sex.”

    ALL PEOPLE ARE NOT THE SAME!! It is a fact of life and undeniable. Why are we to pretend they are? And people get offended all the time. Just learn to deal with it. Does your “writing” offend me? YES!! But I defend your right to do it. Within limits.

    Are men and women the same? NOI!! And thank God for that. We should celebrate that, not pretend it does not exist. And I actually think women are better than men. They have more body parts to play with. Four that I admire most!! Men are pretty much one trick ponie…Men are pretty much a shallow one act play.

    If we were all the same, and thought the same, we wouldn’t need anyone else. And we all do.
    So this liberal retard PC crap has to stop.
    What do you think? You dummy.
    Your Pal,

  3. Walt

    Dude –
    That George Will article really pissed me off. And it raised some questions in my mind.

    Why are there no midgets in the NBA? And 78% of the NBA is black. Why is that allowed? It is racist and discriminatory.

    And the Jackson 5. 100% black. Not even a token white dude. Harlem Globetrotters? Same thing.

    Why do the Jews get to control the MSM and the banks? And the Mafia. You need to be 100% WOP or you can’t get in. What is that all about? 53% of the prison population is black or Hispanic. They get the free room and board? Why is that fair?

    The vast majority of the WNBA are dykes. Straight chicks can’t shoot a basket? White men can’t jump isn’t racist? Black dudes with big dongs is racist? You can hang that racism on me all day long!!

    I am offended by female comedians. They aren’t funny and I want them banned. Male ballerinas, flaunting their equipment in those skin tight tights totally gross me out, so they have to go. The expression “My bad” makes my skin frigging crawl, so no one can ever say that again. I don’t want women in combat situations. Men are better at it. It is true, so deal with it and don’t weaken our military. Male stewardesses and nurses have to go. They offend me. Ralphie is not giving me a sponge bath.

    The Post Office should be required to hire non serial killers. Non Indians – dot not feather – should be allowed to be Doctors. Fat people should pay more to fly. It cost more to carry them And blind people can’t pilot airplanes. Guys with titanium legs shouldn’t be in the Olympics. Fat ugly chicks can’t be strippers. And the bra should be banned. And boob jobs should be federally funded.

    I have a lot more, but I want to hear your list.
    Your Pal,

  4. AJ

    ‘For AP, Small Climate Protest Is News, Opposition Letter From 129 Scientists Is Not’

    “… “climate policy is redistributing the world’s wealth” and that “it’s a big mistake to discuss climate policy separately from the major themes of globalization.”….”

  5. March on Hartfod NOW!!!

    When our taxes go to paying a quarter milliona year to retired asshole ridberg or 190 K a year to a deputy school superintendant, march on hartford to stop this fraud on us. Download their pictures and put them on your posters. Get media attention. Scream! This pension shit needs to stop!!!

    Or bring your posters downto the Today Show at Rocky Center to get attention and put thespotlight on Greenwich. This is an abuse of the public trust!

    • March on town hall- we’re doing this to ourselves. $240,000 for Ridberg? $180,000 for a second-tier school administrator? $125,000 for a 4th grade math teacher? With the exception of the teacher, who’s the beneficiary of state (Democrat) mandated arbitration , these salaries are approved by the Republicans running the town. They’d be worse if Dollar Bill and Fudrucker were in charge of the cookie jar, but that’s small consolation.

      • Ridberg’s number included over $80k in accumulated sick and vacation time. It’s insane to let people carry those over from year to year.

  6. Hummmm?

    Walt— ROF, LMAO
    My loved one’s sentiments
    ARE you, can’t be, YET —-
    How many think he’s yours?

  7. Just the Facts!

    Well said Chris….the worst of two evils. The levee will break eventually…