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Connecticut has been very anti-business since governor Malloy came into office. GE moving will be a huge loss to the local economy.

by tmaly 11y ago

Someone1234 11y ago
I'm sure this had nothing to do with it: > Massachusetts and Boston officials said Wednesday they had offered incentives valued at as much as $145 million to lure the company to the city. The package included as much as $25 million in property-tax relief. Essentially Boston just drove a wheelbarrow full of money up to GE's front door and said "Want this?" and Connecticut couldn't match it. So by being "anti-business" what you mean to say is: "Didn't give away tons of tax payer's money to a private corporation." I'd prefer Connecticut to use money that would have gone to GE to generate other jobs, for example pay people to upgrade the state's infrastructure. GE gets enough tax breaks and government subsidies as is.
- mbowcock 11y ago
  GE chose to leave Connecticut because of a tax increase on profits made in other states by corporate subsidiaries. They're not the only corporation in Connecticut that's unhappy about the tax. Anti-business or not, it's not exactly a draw for corporations with subsidiaries across the country. The money that Boston threw at them was to keep them from moving to New York.
- AndrewUnmuted 11y ago
  > So by being "anti-business" what you mean to say is: "Didn't give away tons of tax payer's money to a private corporation." Actually, Connecticut only succeeds at maintaining huge corporations relying on government subsidies. Hartford, CT is the country's insurance capitol. The reason the state is so "anti-business" is precisely because they give a bunch of taxpayer's money to publicly-traded mega corporations. The income and property tax cost this saddles on normal taxpayers and small businesses is enormous, and they get very little benefit from it.
  - gwright 11y ago
    That and the fact that the CT government payroll/benefits expenditures are out of control. Lots of reasons for this but public sector unions and their relationship with politicians (in both parties) plays a big part.
    - tmaly 11y ago
      They gave us the income tax, and it was supposed to be a temporary thing. We still have it many years later. Spending in CT is out of control. They keep revising the deficit as they use too many rosy assumptions in their budget projections.

Connecticut has been very anti-business since governor Malloy came into office. GE moving will be a huge loss to the local economy.

by tmaly 11y ago

Connecticut has been very anti-business since governor Malloy came into office. GE moving will be a huge loss to the local economy.

Someone1234 11y ago

I'm sure this had nothing to do with it: > Massachusetts and Boston officials said Wednesday they had offered incentives valued at as much as $145 million to lure the company to the city. The package included as much as $25 million in property-tax relief. Essentially Boston just drove a wheelbarrow full of money up to GE's front door and said "Want this?" and Connecticut couldn't match it. So by being "anti-business" what you mean to say is: "Didn't give away tons of tax payer's money to a private corporation." I'd prefer Connecticut to use money that would have gone to GE to generate other jobs, for example pay people to upgrade the state's infrastructure. GE gets enough tax breaks and government subsidies as is.

mbowcock 11y ago
GE chose to leave Connecticut because of a tax increase on profits made in other states by corporate subsidiaries. They're not the only corporation in Connecticut that's unhappy about the tax. Anti-business or not, it's not exactly a draw for corporations with subsidiaries across the country. The money that Boston threw at them was to keep them from moving to New York.
AndrewUnmuted 11y ago
> So by being "anti-business" what you mean to say is: "Didn't give away tons of tax payer's money to a private corporation." Actually, Connecticut only succeeds at maintaining huge corporations relying on government subsidies. Hartford, CT is the country's insurance capitol. The reason the state is so "anti-business" is precisely because they give a bunch of taxpayer's money to publicly-traded mega corporations. The income and property tax cost this saddles on normal taxpayers and small businesses is enormous, and they get very little benefit from it.
- gwright 11y ago
  That and the fact that the CT government payroll/benefits expenditures are out of control. Lots of reasons for this but public sector unions and their relationship with politicians (in both parties) plays a big part.
  - tmaly 11y ago
    They gave us the income tax, and it was supposed to be a temporary thing. We still have it many years later. Spending in CT is out of control. They keep revising the deficit as they use too many rosy assumptions in their budget projections.