posted by King Minos in Money / Career

How Much For Caterpillar??

December 1, 2012

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

THIS is what I worry about when our elected local reps begin the chest-beating about attracting new businesses or industry to Athens and the metro area. I am almost positive NO ONE really vets the offers and promises ... they just grab all the credit THEY CAN. And NEVER look back!

It matters. Economic incentives can do:

As much harm, tax-wise, as they benefit taxpayers. No gain.

More harm tax-wise than they benefit taxpayers: Net Loss

Generate more benefits to taxpayers than they cost taxpayers: Yes, it's this one! Grade

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