Monday, February 4, 2019

Mo Money



I have long commented on the idiotic tax incentives aka corporate welfare given to corporations to build, relocate or simply open a local office or plant in which the varying Pols can stand around and self congratulate with their dicks in hands to show how they brought jobs to the area.

Here is "vile we have endless bragging and boring repetitive reports on the arrival of Amazon in some vague time in which they have a longer time to supposedly create 5,000 jobs. We have Alliance Bernstein promising not only 1000 jobs but building even a bigger presence in which to demonstrate commitment and of course Ernst and Young now calling themselves EY in which 500 jobs will be eventually forthcoming after a specified time frame. One year, two year, three years more....

Well times change and promises are just that. Foxconn edged out of negative PR by promising jobs, the types and how many unclear but hey whatever.  Then we have the bullshit by varying automotive companies that seemingly forgot what they promised let alone will follow up with that one that like a one stand does when promising to call again.

So once again its always about money - theirs.  Corporations are not about people well not the working people but the shareholders and Wall Street Analysts who demand a margin to their profit predictions.  Today in the New York Times Bernie Sanders and Chuck Schumer wrote an editorial about how many corporations are buying back stocks with does even more disservice to growing the economy.  What it does it allows the rich to have mo money.

Tax incentives are largely seen as a game in which the taxpayers almost always lose.  This has shown itself time and time again as this from May of last year in the New York Timesfrom Forbes and from Governing.com

I cannot stress enough that this is where we are and while wages stagnate, jobs are largely fluid fueled by a gig economy what we need to know is what to ask the varying prospective candidates how they feel on said incentives and what can they do to stop these in the same way they need to regarding sports teams and stadiums which are largely the same type of bullshit.  The Super Bowl played in the Mercedes Benz Stadium should be renamed as they paid for very little of it.

And here in Tennessee Memphis is finding out just how well these incentives work or don't with the closing of the Electrolux plant.  Well at least we have the Swedish Chef! 




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