Posted on 12/01/2016 9:46:13 AM PST by jaydubya2
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.
The heating and air conditioning company will invest about $16 million to keep its operations in the state, including a furnace plant in Indianapolis that it had previously planned to close and shift...
(Excerpt) Read more at wsj.com ...
They are just ticked off they won’t get zillions of h1b’s to hire
So why is upstate NY floundering, really, if a state tax haven has really been created to attract and keep business?
why is business OK in South Carolina and Texas but not upstate NY- really?
I never considered the freedom of keeping more of what I earned, a bribe. Trump has to start someplace. He knows to operate a business, requires a profit. Taxation/mandates and regulations are the core of what forces US companies to flee US for cheap labor.
NY...that should answer your question
You may not like the deal, but nobody is screwing the taxpayers out of anything.
Problem is money is fungible. That $7 mil may not come from Indiana taxpayers. All we know is that taxpayers are getting screwed. And that the conditions that contributed to this mess have yet to be fixed.
great and now EVERY company in Indiana should get same deal if they invest & keep/expand jobs
Yes...tax it from everybody, rinse it through corrupt state government and send some fraction back to the targeted corporations it was taken from.
A much better solution is to cut the state government by 50% and significantly reduce taxes so ALL corporations have an incentive to stay.
P.S. — If New York and Indiana had the same problems to deal with, then Carrier would have stayed in Syracuse instead of moving those operations down to Tennessee and the Carolinas years ago.
That $7 mil dollar credit will have to made up somewhere. Is Indiana going to eat it? Cut something else to pay for it? Add it to the debt? Last time I checked states can’t print money.
>>>So why is upstate NY floundering, really, if a state tax haven has really been created to attract and keep business? Why is business OK in South Carolina and Texas but not upstate NY- really?
One word - winter.
>>>So why is upstate NY floundering, really, if a state tax haven has really been created to attract and keep business? Why is business OK in South Carolina and Texas but not upstate NY- really?
One word - winter.
No, but if they’re ran right for many years they have room to work with an issue like this.
so much for “tax free New York”
http://www.newsmax.com/Newsfront/Cuomo-New-York-tax-free/2014/02/04/id/550910/
I don’t mind the deal, except what happened to the tariffs?
Fixed it.
Have you looked at Indiana’s budget? It’s a nightmare. Same reason as NYS. Socialism.
When did the “true Conservatives” start thinking the Government letting people keep their OWN MONEY, instead of taxing it, was a bad idea?
“How could the federal government run without income taxes.”
So, you didn’t know that income taxes were the result of the 16th Amendment to the US Constitution ratified in 1913?
So, how did the US government fund itself for over 130 years without taxing people?
The mere fact that 1000 manufacturing workers will not be collecting unemployment benefits will save the State of Indiana about $25 million dollars in the first year. This tax break is only $7 million and stretched out for a decade. Do the math.
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