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Wednesday, November 20, 2013

Failed Tax Incentives

 Boston Globe letter

They cut it way back.
This was my original:

I rarely agree with Mr. Jacoby, but his column today was right on the money (The bitter pill of failed state tax incentives. Boston Globe, November 6, 2013: A15).

Giving tax breaks to big business (like BioTech firms, 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.
Alternatively, perhaps the Federal Government could ban the practice nationwide by invoking the Commerce Cause.

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

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