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Do Handouts to For Profit Corporations Ever Stop?

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Econ101

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Before the supreme court will be a case that helps decide whether or not corporations are allowed to pit one community against another to decrease thier tax liability or plain out right pay private companies money for locating in their area. Companies have found the government to be the most profitable avenue for capital expansions. Where is the free market? We have locked ourselves into paying for corporation's expenses. Is this not socialism? When will it stop?

Gold'n Plump WI plans



Poultry company considering expansion seeks state incentives

Associated Press

Star-Telegram

Nov. 01, 2005



MILWAUKEE - Gold'n Plump Poultry executives have met with Wisconsin Commerce Department officials and two legislators to see what incentive packages the state could offer as the firm considers expanding, a company manager said.



Bill Petz, director of the company's Arcadia operations, said Monday that the firm based in St. Cloud, Minn., would decide by Jan. 1 where it will expand.



"They're looking at two possibilities," said state Sen. Ron Brown, R-Eau Claire, who attended the meeting last week. "One would be an expansion in Minnesota, the other would be an expansion in Wisconsin. ... We were certainly trying to find a way to put a package together that would be competitive with whatever Minnesota would offer them."



Brown said Minnesota enacted a program two years ago that gives significant tax exemptions to businesses that start or expand in certain rural areas.



Petz said that, if the company decides to expand in Arcadia, new employees there will start at $9 an hour, with some maintenance and supervisory jobs paying $15 to $20.



---



Source: Milwaukee Journal Sentinel



dfw.com
 

Mike

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Alabama has a new Hyundai auto manufacturing plant. The first projected incentives plan was $252 MILLION dollars to employ less than 2000 people at $14.00 per hour.

That $252 Million escalated to over a BILLION $.

I argued with local officials that they could have taken that BILLION $, made low interest - small business loans with it, gotten the majority of their money back AND put more people to work.

That was NOT what the politicians wanted to hear. :???:

Is this considered Socialism or Facism? Either way, I don't like it.
 

Econ101

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Mike said:
Alabama has a new Hyundai auto manufacturing plant. The first projected incentives plan was $252 MILLION dollars to employ less than 2000 people at $14.00 per hour.

That $252 Million escalated to over a BILLION $.

I argued with local officials that they could have taken that BILLION $, made low interest - small business loans with it, gotten the majority of their money back AND put more people to work.

That was NOT what the politicians wanted to hear. :???:

Is this considered Socialism or Facism? Either way, I don't like it.

Yes, it is fascism. Just wanted to see if anyone was paying attention. The two are related. We seem to have gotten to the point that it takes a govt. handout of taxpayer's money or tax burden for corporations to do business. If that is the case, maybe the business isn't viable. At any rate, the regular taxpayer is getting the shaft and corporations and capital are getting the benefit. No economic gain, just a transferrence of wealth from the taxpayer to the corporation/owners of the business. Why should we reduce the income tax rate for the wealthy with this sort of thing going on? Are politicians banking on the fact that payroll taxes will go up? Maybe there should be a "payroll" tax on capital. Another scam.
 

jigs

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our rural area is dieing. And one effort to save it is to offer companies tax free building and low rates on utilities to get them to locate here.

One company is moving from Florida to Superior Nebraska in an effort to get away from the hurricanes. I am not totally sure what all the concessions were that lured this company in, but I assume the ton population is paying a share of the taxes and utilities for the company to move in.

double edged sword....you need the cash flow and revenue from these companies to keep a community going, but at what expense is it counter productive?


One guy argued that the community cash flow went to hell when we out lawed gambling and whore houses.........
 

Econ101

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jigs said:
our rural area is dieing. And one effort to save it is to offer companies tax free building and low rates on utilities to get them to locate here.

One company is moving from Florida to Superior Nebraska in an effort to get away from the hurricanes. I am not totally sure what all the concessions were that lured this company in, but I assume the ton population is paying a share of the taxes and utilities for the company to move in.

double edged sword....you need the cash flow and revenue from these companies to keep a community going, but at what expense is it counter productive?


One guy argued that the community cash flow went to hell when we out lawed gambling and whore houses.........

Why not stop the cheap food policy in the United States? After all, Johanns is looking for ways to get new people in the industry in his farm meetings. Maybe the best way to save small agricultural towns is to have agriculture really make money instead of subsidizing it to death.
 

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