Corporations are rapidly becoming the “welfare queens” of 21st century. While Republicans denounce social programs that pick the pockets of taxpayers, their picking the pockets of taxpayers in corporate giveaways and incentives. Pretty soon, corporations will essentially be paying nothing, using the countries commons, at the expense of taxpayers.
This “job creator” nonsense, repeated so often people believe it, has made corporate welfare a simple fact of life. We wouldn’t have jobs without them, right?
Check out the following corporate blackmail, in Illinois, that is supposedly an acceptable price of doing business;
Newsmax email text: States considering an increase in corporate or income taxes would do well to study the recent move by Illinois to boost state revenue … In May, Motorola Mobility was offered $100 million in financial incentives to keep its corporate headquarters, and 3,000 jobs, in Illinois. Navistar, a truck and engine company, has received $65 million in incentives.
Now Sears, one of the state’s largest employers, says it will move 6,000 jobs out of Illinois unless the state extends tax incentives set to expire in 2012. Two Chicago-based financial exchanges are also threatening to depart … the state could be compelled to spend the additional tax revenue in order to convince companies to remain in the state. Ohio has offered Sears $400 million to move there, and Indiana has an ad campaign tempting Illinois businesses by asking if they are “Illinoyed” by the higher taxes.
Corporate welfare appears to be completely unstoppable, unless something is done nationally to stop this monetary competition between states.