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Reminds me of the American Plant Foods deal in Louisiana. They promised 100+ jobs at $120K+ a year salaried. What they actually came up with was 13 jobs at $5
by MisterBastahrd 3y ago
Reminds me of the American Plant Foods deal in Louisiana.
They promised 100+ jobs at $120K+ a year salaried.
What they actually came up with was 13 jobs at $56K a year.
For this, they're getting a $47M tax break. If you want to know why Louisiana is consistently one of the most poorly educated and poorly funded states in the country, it's situations like this. The locals end up subsidizing out of state businesses who get sweetheart deals with local politicians in exchange for favors.
- xorbax 3y agoTheir leaders may be dumb But their voters are an order of magnitude dumber
- ninth_ant 3y agoTax subsidies like you describe here don’t just hurt the state being taken advantage of, it hurts the entire country because no one is getting that tax revenue. Instead of a business paying their share, all that money is instead transferred to the already-rich owners and investors (and yes, the corrupt officials in the local state). It’s a prisoners-dilemma style arrangement for the benefit of the already rich and powerful. If it’s not Louisiana, they’ll find some other suckers to bribe.
- MisterBastahrd 3y agoIt is particularly endemic to Louisiana which has an insane amount of chemical factories due to proximity to the Gulf of Mexico and the Mississippi River. All of them are getting tax breaks even though many have been here for 50 years and couldn't move if they wanted to.
- sitkack 3y agoAnd probably would owe more than they are worth if charged with cleaning up all the pollution they have caused.
- philistine 3y agoA while ago, research came out that showed that the California oil industry had not squirreled away enough money, and there were not enough profits in the future, to clean everything. https://www.propublica.org/article/cost-of-california-oil-cleanup-exceeds-industry-profits https://www.propublica.org/article/cost-of-california-oil-cl...
- pc86 3y agoIf you have evidence politicians are getting kickbacks out of that $47M tax break you'll be famous before the end of the week.
- xorbax 3y ago[flagged]
- creato 3y agoAt least in the case of the Foxconn plant, I don't even think anyone actually got any favors. The politicians in question (Trump, Scott Walker?) just think that the appearance of a deal like this makes them look good to their voters. That's all the "favor" they needed.
- SoftTalker 3y ago> For this, they're getting a $47M tax break. This presumes someone else would be paying the $47M. Often that isn't the case, so the "tax break" is just money the locality would not have received anyway.
- glimshe 3y agoThey need roads and other public services to operate. They are basically taking a free ride on the backs of the tax paying population.