Posted on 09/05/2014 7:29:57 PM PDT by willk
Nevada officials are lauding the deal as a huge win for the state, touting the creation of 6,500 well-paying jobs that the factory is expected to generate, along with an another 22,000 indirect jobs. But the enormous cost of the deal, in terms of lost revenue to state coffers, is staggering: an estimated $1.3 billion. Paradoxically, it is a deal that could prove even more painful for taxpayers if the factory is a success.
(Excerpt) Read more at huffingtonpost.com ...
But Harry will make out like a bandit...
Unless all companies get the same deal, its crony capitalism at its worst.
Seems to me they gain 28,000 tax paying jobs.
Asinine premise.
Nothing from HuffPo about how Nevada taxpayers are the losers from Dingy Harry’s solar farm fiasco? I’m shocked!
NO worries mate.
It’s a safe bet that won’t happen.
I hate it when government tax lovers write like this. They lost revenue? How is it lost, if they didn't have it before Tesla goes there? Nothing has been lost. Rather, they'll gain taxes from the gainfully employed 6500 workers and the 22,000 indirect jobs created. That's a big gain. Then the author is complaining they'll need more roads and more teachers etc. Hey, that comes with the territory of more gainfully employed citizens. Those people are going to be spending their income. These writers just want to wring every last cent from every company and employee to benefit government, without thinking that taxes are a burden that need to be lessened, not increased.
Fascism
Do you really think they will gain 28,000 jobs based upon Telsa? They will be cranking out 1 - 10 million Telsas a year? Reality is a frightening thought for most Progressives.
Why should some companies be exempt from tax while others are not?
Equal justice?
If HuffPo says something, I immediately believe the opposite.
I hate that we are even encouraging people to reference that dirtbag of a site.
It’s the battery plant. They will make their own batteries as well as those for others.
IIRC Tesla was disappointed/ frustrated that the battery company said they couldn’t make the next gen battery Musk specified, so he bought the company to do it himself and then open a supply chain for other retailers to buy his designs wholesale.
If it went down as described.. it’s a smart move for Musk. Batteries at cost for Tesla and market wholesale for other makers. Profit on both fronts.
Solyndra x 10
“Do you really think they will gain 28,000 jobs based upon Telsa?”
Your premise is incorrect thus your conclusion is wrong.
Anytime government picks winners and losers taxpayers lose.
I figured it would be a good move for Nevada because Gov Moonbeam didn’t want to give Tesla the tax deal. Since clearly everything moonbeam does is wrong for business in CA, I can’t be blamed for assuming Nevada will profit.
All companies should be exempted from taxes, but if given any opportunity to exempt it, we should support it. Money in the private sector is ALWAYS better spent than by government esp Tesla
I rather $20 billion NASA yearly budget giveN to Elon MUSK, than NASA. Look at what Elon Musk could do with SpaceX with just a few hundred million. Imagine what he could do with $20 billion
Disagree. Its how all states, and even the US Govt should act towards attracting businesses. Giving tax breaks is not the same as giving away money. The ancillary benefits are poo pooed in this article but they are extremely important. The increased revenues will come in property taxes and increased local spending from the 28k jobs this will create. With the worlds highest corporate taxes you have to find ways to make it worth there while to invest.
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