Reply #2: Corporate Welfare State

[cfsteak]

Yep plus we run a great corporate welfare state, corporate relocations to the state are a BIG deal, we have low taxes and with cities bidding against each other for these relocations, companies end up with giant tax abatements, the city gets some tax income from part of the state sales tax and business personal property tax, the companies get their subsidies, and it brings in new blood for our housing markets

I sat in a city council meeting last night where they city did a great thing by helping out a social service outfit with their rent, but then while the council members were congratulating themselves 2 mentioned they liked the fact that the operation didn't offer steady state service, welfare, while weeks ago the gave a semiconductor cooperation a 500 million BPP tax abatement on equipment they bought for a building that also got massive tax abatements 4 or 5 years ago that sat empty until this year, Big business ex retail get this treatment all the time but it's not considered welfare

The taxes these corporations bring in really help keep residential P tax down, this is the only place I've seen where trickle down actually works, but something about it creeps me out.