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The Water Cooler
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Oklahoma spends 1/3 of its budget on corporate tax incentives!
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<blockquote data-quote="Hobbes" data-source="post: 2008311" data-attributes="member: 3371"><p>Sales tax credit aside, I think what we're talking about here are the aerospace credits, and quality jobs credits 10yr. cash incentives, and small business 7 yr cash incentive, and target industries tax credit, PrimeWIN contractor incentive, Economic development pooled finance, Training for Industry(TIP) program, 5 yr. ad valoriem tax exemption, CDBG/EDIF, and on and on and on ..., that don't really create any new jobs, they just steal them from other states at a lower cost to the company.</p><p></p><p>I'm pretty sure you would consider it unfair if the state of OK used your income tax payments to then turn around and give a tax credit to a competing company to open a wheelchair company in the same part of town.</p><p>Sure they created jobs; they created the jobs you had been planning to hire before the state subsidized your competition.</p><p></p><p>In the same way, I'm sure that Academy and other sporting goods retailers considered it unfair for the state of OK to take their tax payments and offer a credit to Bass Pro to open a competing business on a desirable piece of property.</p><p></p><p>You would think it would be unnecessary to explain it to folks who "love capitalism" and "hate government interference in the free markets".<img src="/images/smilies/image096.gif" class="smilie" loading="lazy" alt=":hithead:" title="Image096 :hithead:" data-shortname=":hithead:" /><img src="/images/smilies/image096.gif" class="smilie" loading="lazy" alt=":hithead:" title="Image096 :hithead:" data-shortname=":hithead:" /><img src="/images/smilies/image096.gif" class="smilie" loading="lazy" alt=":hithead:" title="Image096 :hithead:" data-shortname=":hithead:" /></p></blockquote><p></p>
[QUOTE="Hobbes, post: 2008311, member: 3371"] Sales tax credit aside, I think what we're talking about here are the aerospace credits, and quality jobs credits 10yr. cash incentives, and small business 7 yr cash incentive, and target industries tax credit, PrimeWIN contractor incentive, Economic development pooled finance, Training for Industry(TIP) program, 5 yr. ad valoriem tax exemption, CDBG/EDIF, and on and on and on ..., that don't really create any new jobs, they just steal them from other states at a lower cost to the company. I'm pretty sure you would consider it unfair if the state of OK used your income tax payments to then turn around and give a tax credit to a competing company to open a wheelchair company in the same part of town. Sure they created jobs; they created the jobs you had been planning to hire before the state subsidized your competition. In the same way, I'm sure that Academy and other sporting goods retailers considered it unfair for the state of OK to take their tax payments and offer a credit to Bass Pro to open a competing business on a desirable piece of property. You would think it would be unnecessary to explain it to folks who "love capitalism" and "hate government interference in the free markets".:hithead::hithead::hithead: [/QUOTE]
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