I do not support direct subsidies from the government generally (e.g. when a business is given direct cash from the state government so it locates in a state). I support providing businesses with tax credits in order to promote spending, hiring, and R&D. However a tax credit is only fair when ALL businesses (within the target industry) are allowed to take advantage of the tax credit. For example, if a film tax credit is only given to particular films selected by the North Carolina legislature (the new NC model) and not all films - then the state is picking winners and losers. Let me ask - why are some "conservative" people so against tax credits for business which REDUCES taxes - it seems like the Tea Party movement was supposed to be all about reducing taxes. Does eliminating a tax credit program that provided approx. $60 Million in credits per year to keep a $1 Billion industry in your state really an example of smart economic development?
"Let me ask - why are some "conservative" people so against tax credits for business..." Because some conservatives can't stand that government even exists.
you don't need to be conservative to understand that when govt starts picking winners instead of the market place, you better be damned sure its good for the people and not just the cronies. even leftists should agree with the above... if govt starts picking winners you soon see a venezuela like economy.
Of course. A flat tax of around 13% would (1) be fair to all citizens, and (2) send the economy BOOMING! However... we can't have that. Such would reduce the heavy-handed control of the government, and none of THAT can be tolerated.
But a flat tax rate of 13% for all would be a significant tax increase for many, and would tank the economy.
at least we have leftists acknowledging lower taxes creates jobs. now if they would apply that lesson we might get some people employed in good jobs... and make room for all the illegals they want to bring in.
There are WAAAYYYYY more illegals than there are jobs.... at ANY pay scale. Bottom line.... more parasitic dependency (at the expense of American tax payers) and more crime.
I know that but the reality is the dems and establishment Rs in Congress are under orders to screw the taxpayer to create more dems and lower wages. I think its a way for the cronies to expand their market share and profits at the expense of labor.
Eventually you've screwed so many people out of so much, there is nobody with anything left worth screwing them out of..." At that point, you have "Leftist nirvana"... just like the former Soviet Union before its collapse... Everybody (1) equal, (2) with NOTHING, and (3) queuing up for their ration of toilet paper and potatoes.
I think the objection is that why should one industry get such a break and not all? And who really benefits? You say it is a $1bill industry, but how is that measured? I doubt it is a bill spent in NC, since you said the credit was 25% of expenditures. I am not dogmatic about this subject. I realize that there is competition among states. I am just sceptical, both about the benefits and the fairness.