Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

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

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 ...


TOPICS: Government; US: Indiana
KEYWORDS: carrier; incentives; manufacturing; pence
Navigation: use the links below to view more comments.
first previous 1-20 ... 61-8081-100101-120121-127 next last
To: lacrew
Ultimately, you're right. Absent tariffs, the actual constitutional method of funding the government, all of these deals are merely band-aids until the next company threatens to pull up stakes.

If Carrier knew that Mexican made units would cost them an extra 20%, they'd stay put and expand their factories.

Of course, for other companies, such as Apple, who have a worldwide market to consider, a tariff for their phones coming into the country likely would just increase the sticker price rather than be actual encouragement to build the phones here.

The only really effective move in that case would be having customers stop buying iPhones until they're made in the US.

81 posted on 12/01/2016 10:29:58 AM PST by kingu (Everything starts with slashing the size and scope of the federal government.)
[ Post Reply | Private Reply | To 12 | View Replies]

To: central_va

“Taxes 3rd word wages and zero tariifs are the leading cause of corporate flight.”

I’d put those as second and third. Taxes being the first.

Corporations pay not just income taxes, but also payroll taxes, perhaps the largest tax they pay. Toss in ObamaCare and that’s now probably the largest tax.

Add in property taxes. Those are ridiculous! Depending on the county, a corporation can easily pay over $1 million each year in property taxes.

Sure, third-world wages and zero tariffs are not doubt two leading incentives, but the tax situation is what initially drives them to seek leaving and they find those two incentives as cherries on the sundae.


82 posted on 12/01/2016 10:30:45 AM PST by CodeToad (Ding Dong, the Bitch is Dead!!!)
[ Post Reply | Private Reply | To 76 | View Replies]

To: mewzilla
That's Indiana's problem, not Carrier's. Neither Carrier nor United Technologies has ever cast a single vote in an election in Indiana.

Do you realize that you've just made a great case for Carrier to move every job out of that state?

83 posted on 12/01/2016 10:30:46 AM PST by Alberta's Child ("Yo, bartender -- Jobu needs a refill!")
[ Post Reply | Private Reply | To 77 | View Replies]

To: MNJohnnie

10-4. If we can get the majority of people edumactated enough to understand this simple fact, the entire taxation thing would dramatically change.


84 posted on 12/01/2016 10:32:07 AM PST by mazda77
[ Post Reply | Private Reply | To 36 | View Replies]

To: jaydubya2

One journalists “tax breaks” are another mans tax relief.


85 posted on 12/01/2016 10:33:05 AM PST by Oldeconomybuyer (The problem with socialism is that you eventually run out of other people's money.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: MNJohnnie

Different standards and deals for different people. Equal Protection out the window.

Reminds me of taxpayers subsidizing pro sports teams stadiums.


86 posted on 12/01/2016 10:35:24 AM PST by Tea Party Terrorist (Why work for a living when you can vote for a living?)
[ Post Reply | Private Reply | To 5 | View Replies]

To: morphing libertarian

Ya, but he’s not President yet ...


87 posted on 12/01/2016 10:39:25 AM PST by Trump-a-licious
[ Post Reply | Private Reply | To 18 | View Replies]

To: jaydubya2

That can be paid for with the elimination of Obama Phones.


88 posted on 12/01/2016 10:39:48 AM PST by GotMojo
[ Post Reply | Private Reply | To 1 | View Replies]

To: amihow

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?


89 posted on 12/01/2016 10:39:53 AM PST by MNJohnnie (This revolt is not ending, it is merely beginning.- Pat Caddell)
[ Post Reply | Private Reply | To 7 | View Replies]

To: Tea Party Terrorist

Yeah, except it’s not a different standard for different people. Any business investing in new manufacturing property in Indiana will receiving the same tax abatement. This represents a phased in application of real and personal property taxes on new property used in manufacturing and not a reduction of taxes on existing property.


90 posted on 12/01/2016 10:44:36 AM PST by Mr. Lucky
[ Post Reply | Private Reply | To 86 | View Replies]

To: morphing libertarian

I wish I was smart like you.


There is a place for “smart” people like you. It’s called the DUmp. You’ll find many like minds over there that prefer the carrier jobs in Mexico and Americans on welfare. Good day.


91 posted on 12/01/2016 10:45:21 AM PST by lodi90 (President Trump - Has a nice ring to it!)
[ Post Reply | Private Reply | To 57 | View Replies]

To: P-Marlowe; Sacajaweau

And that’s not counting the loss of jobs all tied to that Carrier plan. Suppliers, transporters, food service near the plant, lawyers, accountants, schools, etc.


92 posted on 12/01/2016 10:49:47 AM PST by xzins
[ Post Reply | Private Reply | To 39 | View Replies]

To: MNJohnnie

I haven’t seen “true conservatives” this angry since Trump beat Cruz. They sound just like Democrats and clearly wish all the carrier jobs were in Mexico. LOL.


93 posted on 12/01/2016 10:50:35 AM PST by lodi90 (President Trump - Has a nice ring to it!)
[ Post Reply | Private Reply | To 54 | View Replies]

To: jaydubya2
I look at it as Carrier being able to keep $7 million of their own dollars rather than having to give it to the govt.

If the govt. doesn't get it none of us will ever know the difference.......

94 posted on 12/01/2016 10:50:58 AM PST by Hot Tabasco
[ Post Reply | Private Reply | To 1 | View Replies]

To: silverleaf

> $7 million..... over 10 years

Heck, Carrier probably pays that in salary and bennies for an Executive VP.


95 posted on 12/01/2016 10:52:12 AM PST by glorgau
[ Post Reply | Private Reply | To 11 | View Replies]

To: CodeToad

Taxes are paid by the consumer not the corporation.


96 posted on 12/01/2016 10:55:43 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 82 | View Replies]

To: glorgau

One of CEO’s vacation homes is probably 7 million.


97 posted on 12/01/2016 10:56:36 AM PST by central_va (I won't be reconstructed and I do not give a damn.)
[ Post Reply | Private Reply | To 95 | View Replies]

To: jaydubya2

Figured about FIVE HUNDRED MILLION in salaries over 10 years.

Dont know if the state has a state tax, but 1 percent would pretty much break them even.


98 posted on 12/01/2016 11:03:58 AM PST by dp0622 (IThe only thing an upper crust conservative hates more than a liberal is a middle class conservative)
[ Post Reply | Private Reply | To 1 | View Replies]

To: amihow

Like I said, HALF A BILLION in income over 10 years. How much revenue does that generate?


99 posted on 12/01/2016 11:05:32 AM PST by dp0622 (IThe only thing an upper crust conservative hates more than a liberal is a middle class conservative)
[ Post Reply | Private Reply | To 7 | View Replies]

To: mewzilla

Sorry, but you not understanding basic math and economic principles does not make this an insult to voter’s intelligence.
Upstate New York is not Indiana.


100 posted on 12/01/2016 11:11:20 AM PST by Mollypitcher1 (I have not yet begun to fight....John Paul Jones)
[ Post Reply | Private Reply | To 25 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-20 ... 61-8081-100101-120121-127 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson