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Indiana Gives $7 Million in Tax Breaks to Keep Carrier Jobs
WSJ ^ | Dec. 1, 2016 12:21 p.m. ET | Ted Mann

Posted on 12/01/2016 9:46:13 AM PST by jaydubya2

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1 posted on 12/01/2016 9:46:13 AM PST by jaydubya2
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To: jaydubya2

The Art of the Deal


2 posted on 12/01/2016 9:47:00 AM PST by Buckeye McFrog
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To: jaydubya2

NYS gives all kinds of benefits to businesses who rob the system by not living up to their obligations. Yes...of course they know the benefactors.


3 posted on 12/01/2016 9:51:14 AM PST by Sacajaweau
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To: jaydubya2

Typical and I’ve seen it done in my state, too. Both the company and the state need to find a more permanent solution because this is only a Band-Aid.


4 posted on 12/01/2016 9:52:03 AM PST by T-Bird45 (It feels like the seventies, and it shouldn't.)
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To: jaydubya2

The State of IN is letting Carrier keep their OWN MONEY instead of taxing it from them and “True Conservatives”, just like the buffoon Left, is crying “cronyism”?

Just how stupid is the “Conservative” purity choir?


5 posted on 12/01/2016 9:52:30 AM PST by MNJohnnie (This revolt is not ending, it is merely beginning.- Pat Caddell)
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To: jaydubya2

We’ve got all those Gop governors and legislatures...we can fix this country


6 posted on 12/01/2016 9:52:37 AM PST by ari-freedom (The Social Justice War is over and we won!)
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To: jaydubya2

So the taxpayers still getting effed Donald if this is your deal?


7 posted on 12/01/2016 9:53:08 AM PST by amihow
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To: Sacajaweau

The State of IN is letting Carrier keep their OWN MONEY instead of taxing it from them and “True Conservatives”, just like the buffoon Left, is crying “cronyism”?

Just how stupid is the “Conservative” purity choir?


8 posted on 12/01/2016 9:53:15 AM PST by MNJohnnie (This revolt is not ending, it is merely beginning.- Pat Caddell)
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To: MNJohnnie

They won’t be so pure and perfect when it is THEIR job that is outsourced to Mexico, illegals and h1b’s!


9 posted on 12/01/2016 9:54:34 AM PST by ari-freedom (The Social Justice War is over and we won!)
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To: jaydubya2
Assume an average salary of 35k for these 1,000 jobs.

That's $35,000,000 in payroll.

How much of this is paid in taxes?

Assume a 15% bracket that's $5,250,000 in Federal Taxes

Assume a 6% local sales tax...that's 2,100,000 in local taxes.

That leaves around $25,900,000 of income to be spent at local businesses in that area.

Sounds like a decent deal to me.

10 posted on 12/01/2016 9:55:21 AM PST by ealgeone
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To: jaydubya2

$7 million..... over 10 years
What a deal compared to putting 1000 workers and their families and employees of all the businesses they support on unemployment or food stamps and subsidies to supplement low paying part time work

How much taxable revenue will spin off from those jobs, healthy communities of employed workers, and all the other businesses touched by the presence and spendin gpower of those employees


11 posted on 12/01/2016 9:57:39 AM PST by silverleaf (Age takes a toll: Please have exact change)
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To: jaydubya2

This is fairly typical. Large companies can constantly threaten to leave (even to another state) and try to get tax breaks - sort of like NFL teams that threaten to leave unless the public builds a new stadium.

On paper, the city/state still benefit, when the payroll taxes and future property taxes are all penciled out. However, often the company does not fulfill its obligations with job creation or retention, and the city/state are left with the messy business of ‘calling the note’, so to speak...or just losing out if they don’t have the stomach for that.

I have actually seen a magazine geared towards which states have the most breaks.

I think its overall a bad idea to have states and cities compete with each other with tax breaks (and by default treating the rest of us unequally under the tax law). But I think it makes sense at a national level, to keep companies from leaving the entire country. Now the companies would still want an incentive to stay, and one of the only things that can be done at the federal level is a ‘stick’ approach with tariffs.


12 posted on 12/01/2016 9:58:28 AM PST by lacrew
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To: ealgeone

You can go on with that multiplier...now, inagine what we’d be paying in unemployment and other welfare if they lost those jobs...and it won’t be so easy for them to find new ones


13 posted on 12/01/2016 9:58:32 AM PST by ari-freedom (The Social Justice War is over and we won!)
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To: jaydubya2

That’s chump change for a corp that size. A fig leave to for them to hide behind, IMO.


14 posted on 12/01/2016 9:59:06 AM PST by lodi90 (President Trump - Has a nice ring to it!)
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To: jaydubya2

Guys, this hasn’t worked for Upstate NY.


15 posted on 12/01/2016 9:59:21 AM PST by mewzilla (I'll vote for the first guy who promises to mail in his SOTU addresses.)
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To: jaydubya2

Taxes are the leading cause of corporate flight. Fact is, the founding fathers knew that income taxes are ruinous to a country.


16 posted on 12/01/2016 9:59:22 AM PST by CodeToad (Ding Dong, the Bitch is Dead!!!)
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To: jaydubya2

Do the math just on the jobs alone. 7 million over ten years equals a cost of $700,000 per year.
1000 Jobs at $50,000 per year equals 5 million PER YEAR into the local economy. That pumps at least $50,000,000 into the US economy over ten years.
A Cost of 7 Million for a gain of 50 Million is certainly a good investment.


17 posted on 12/01/2016 9:59:25 AM PST by Mollypitcher1 (I have not yet begun to fight....John Paul Jones)
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To: amihow

1100 jobs go to mexico

carrier gets $7 million to keep 1,000 remaining jobs here for 10 years

trump fails to tell carrier he will impose 35% tariff as he promised for 15 months in his campaign

Some conservatives celebrate the “big win”


18 posted on 12/01/2016 9:59:35 AM PST by morphing libertarian
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To: jaydubya2

So what is that?, the cost of One Obama vacation


19 posted on 12/01/2016 9:59:42 AM PST by DanielRedfoot (Viva Le Deplorable)
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To: ealgeone
Indiana officials agreed to give United Technologies Corp. $7 million worth of tax breaks over 10 years to encourage the company’s Carrier Corp. unit to keep about 1,000 jobs in the state, according to people familiar with the matter.

That's always been the answer to the problem of U.S. businesses moving their operations out of the U.S.: stop taxing them out of profitability and strangling them with excessive regulations. Most Republicans understand this, and clearly Donald Trump does, too. What a refreshing change to have a President-elect who's willing to act on it!

20 posted on 12/01/2016 9:59:58 AM PST by American Quilter (I'm so enjoying watching Hillary fade away.)
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