Posted on 01/20/2016 8:12:39 AM PST by Kaslin
THIS is what is driving the Trump populist revolution.
Crony Capitalist Bailouts and Featherbedding. The one issue that could bring the Tea Party and OWS together.
What a waste. Moving to Massachusetts fixes what ?
99% same old same old in MA.
GE should move south, hell not north!
Also, how much Federal tax does GE pay again? LOL.
Crony Capitalism is an oxymoron.
The Boston metro area isn’t overcrowded and outrageously expensive enough to suit the politicians.
So to make it worse, they pay companies to move more people there using money extorted from taxpayers with threats of punishment by government authorities.
In 2015 Massachusetts had a population of 6.79 million
$150 million / 6.79 million residents = $22/resident
The residents of Connecticut would gladly pay $22 each to keep GE based in Connecticut.
Democrat Connecticut governor Malloy has killed the golden goose. He had warnings that GE would move if taxes stayed high. Malloy failed to get promised concessions from unions that would have lowered taxes.
Republican Massachusetts governor Baker has landed a big fish that will pay for itself in less than a year.
This is not crony capitalism. This is an example of union-driven politics in Connecticut.
If you were born and raised in the rustbelt states over the last 40+ years, this is nothing new. Get used to it. At least they didn’t relocate to beijing, mexico city, perth, or austin.
That $150 million will be offset by the Massachusetts income tax these employees pay. If they are big executives, that money might add up over 5 or 10 years.
This is corporate welfare and bribery. Taxpayers’ money used so the politicians can claim that they are doing everything possible for jobs.
Perhaps Malloy will enact an Exit Tax on GE. Wouldn’t surprise me.
Interesting math. I bet L.A. is paying out more per citizen to get the Rams.
In the Era of Baraq, the level of desperation seeking jobs and employers is very high.
Yeah, GE was foolish to just consider the money. They’ll love getting used to locals in the suburbs.
What a bunch of BS. GE is a public company, accountable to it’s shareholders. If the laws allow it to take advantage of moving it’s corporate HQ, that’s their business and nobody elses. Business is ALL about winners and losers in an open market environment.
The only alternative is government regulations. IF that’s what you advocate, come out and say so.
Well, you got to hand it to companies like GE and Tesla (Elon Musk) they sure do know how to scam the taxpayers out of vast sums of money.
This is how the system now works. Politicians hand over gobs of taxpayer money to private companies, then these companies and owners kickback much of this enrichment back to the politicians in the form of campaign contributions.
Gee, who has admitted playing the game very well? Could it be Donald Trump who himself admits he shoveled lots of this cash back to politicians?
Oh, I believe it. GE has deep roots in the NE. They can’t just pull up stakes and move too far away, for now. They just moved their locomotive division out of Erie, PA. down to Texas. That doesn’t hide the fact that damn near most of the parts for them are coming out of china though.
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