Monday, November 3, 2014

Part 1 ~ What Republican's Are Doing Wrong!

The Republican Party is formidable when it comes to instituting the  suppression of the vote, restricting Civil Rights, and giving Corporations an equal voice in the government process! The Roberts Court has legislated from the bench by committing impeachable offenses.

Following the chart, we're going to demonstrate how each of these points, if Republicans were sincere, would not be what they are today!

1). At least 80 billion in State and Local subsidies to Corporations - States use incentives to lure jobs to their States and the cost is enormous, but do the returns justify the subsidies?

Let's start with New Jersey where there was a strong effort of bring in jobs using tax subsidies. Currently, New Jersey is lagging in job prospects for it's investment in tax subsidies! State taxes are a tremendous burden to residents of New Jersey; all issues that hurt the expansion of New Jersey's economy!

"Take three of the Urban Transit Hub tax credits as examples: Goya is getting $82 million to relocate its factory to Jersey City. Campbell’s Soup is getting $34 million to renovate its Camden headquarters. Panasonic will receive $102 million to move — from Secaucus — into new offices in Newark.
Those three awards, combined, represent a public investment of $218 million. The return on that investment, according to the Economic Development Authority’s numbers, will be 475 jobs. That’s a cost of $459,000 per job created. Even spread over 10 years, it seems a very high price to pay, especially with tax dollars."
These statistics for New Jersey are a common fallacy of subsiding the relocation of a corporation to a State solely for the possibility of an increase in jobs that may or may not come to fruition! The other issue that makes this quite destructive - Republican controlled States are all experiencing budget deficits and lost of credit ratings because of this practice, that is not a coincidence!

Here is what happened in Indianapolis, IN... 

"United Airlines got $320 million in taxpayer money to build what is by all accounts the most technologically advanced aircraft maintenance center in America. But six months ago, the company walked away, leaving the city and state governments out all that money, and no new tenant in sight."

The State of Indiana lost big! The State of New Jersey lost big! There are numerous incidents of this phenomenon occurring... Kansas is another State in disastrous economical failure! Subsidies don't work! Republicans don't see it that way and continue to enforce a policy that is flawed.

In a democracy, silence is not golden; it is condonance in the face of injustices; it is fear, where the thought of reprisal fosters control – Rodney A. Davis

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