Corporate Extortion: States Are Giving Billions to Corporations That Don’t Create Jobs

[xchrom]

http://www.alternet.org/corporate-accountability-and-workplace/corporate-extortion-states-are-giving-billions-corporations



As the nation turns its attention to the latest federal budget deal where curtailed spending and cuts are the defining principal, a dozen blue and red state governors are in a bidding war recklessly offering to spend billions for tax breaks and other public-paid subsidies to lure the corporate giant Boeing to build its next-generation aircraft factory.

Beyond the schizophrenic spectre of congressional negotiators saying no to spending as governors are offering mountains of cash is a maddening reality: these taxpayer subsidies do not create the promised jobs or investments, a series of striking academic studies have found. All they do is boost bottom lines by cutting corporate costs.

“Economic development officials value business tax incentives as tools needed to compete with other states,” a November report commissioned by New York State’s Tax Reform and Fairness Commission began, stating their presumptive selling point. “There is, however, no conclusive evidence from research studies conducted since the mid-1950s to show that business tax incentives have an impact on net economic gains to the states above and beyond the level that would have been attained absent the incentives.”

The 143-page study, produced by Marilyn M. Rubin of John Jay College and Donald J. Boyd, the former director of the Rockefeller Institute of Government State and Local Government Finance research group, was not alone in this conclusion.

[Laelth]

1. Informative essay ...

... but the spelling error in the first sentence undercuts the author's credibility.

-Laelth

[warrant46]

6. Spell Check

Someone should have caught that

[Laelth]

7. Spell check would not have caught this error.

principle (n) = something you can stand on, i.e. an ideal.
principal (adj.) = main, primary.
principal (n) = the head of a school or institution.
principal (n) = a legal term in debtor/creditor relations, the amount borrowed without including interest.

The author meant "principle" not "principal" in the OP.

-Laelth

[FreakinDJ]

2. Creative Campaign Financing

Giving Tax Breaks under the guise of creating jobs only to increase Campaign Contributions (kick-backs)

[Mnemosyne]

3. K&R nt

[warrant46]

4. Hundreds of Millions going to expand Factory Farms

The "Job Creators"

Some of these Factories have 8-10 Thousand female cows that give milk

The cows are then milked by thousands of people who sneaked into the country and are paid in cash.

One cow produces the waste of 19 people. This waste is spread onto the land where it runs into the rivers in the spring.

These factories sometimes pose as "Family Farms" The farmer and his banker make millions from this scheme.

[Kurovski]

5. K&R. (nt)