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Friday, February 8, 2013

Tax Expenditures

Mr. Jacoby is absolutely correct (A guaranteed flop for Massachusetts. Boston Globe, February 6th. 2013).

Giving tax breaks to big business (like Theatrical Producers, Movie Makers, Insurance Companies, etc.) to encourage them to locate in a given area is a beggar-thy-neighbor proposition. Often, as in New London, CT, the jobs never materialize, or they last only a short time as in Devens, MA and Providence, RI.

Some years back, the legislature passed an inter-state compact (National Popular Vote) to bypass the Electoral College to ensure that the President is elected by all the people. We urgently need an inter-state, inter-city, inter-town compact that will disallow these ridiculous handouts to the wealthy top managers of corporations seeking tax breaks.

Where do you think that $4m or $10m or $20m tax rebate will go: right into the pockets of the CEO and top management through their profit related bonuses.

It is past time to say "No" to the corporate welfare bums (Quote from former Canadian New Democratic Party leader, David Lewis).

Sent to Boston Globe

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