Come to NYS and Pick the Taxpayer’s Pocket

By Dave Duncan

Many residents of the Broome area get sick when they see the logo which tells big businesses how they can operate ten year tax free in NYS. NYS already leads the nation in Corporate Welfare even before the newly advertised Start Up NY plan.     

                                       Ranking State Subsidies to Private Businesses                         While corporate welfare, whether in the form of subsidies or bailouts, is more often associated with the federal government, state governments also regularly use generous, targeted subsidy packages to entice corporations to locate within their borders. As these charts show, corporate welfare is a significant problem at the state level, with New York State leading the rest. This study from the Mercatus Center of George Mason University, “the world’s premier university source for market-oriented ideas” (i.e. conservative research institute), was completed in Oct. 2104.

In 2014, just before the November elections, the Conservative Research group Tax Foundation presented Governor Cuomo with an award for “outstanding achievement in state tax reform.” The changes engineered by Cuomo gave NYS the “best corporate tax system in the U.S. of any state that has a corporate tax system.” Cuomo and the state legislature cut the corporate tax rate from 7.1% to 6.5%. This is the lowest corporate tax level since 1968.

These tax deals leave the rest of the state’s residents with higher taxes and fewer services. How do you feel about the political parties that sold us Cuomo?

 

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One Comment on “Come to NYS and Pick the Taxpayer’s Pocket”

  1. Edward Zyskowski II says:

    While Broome County along with the entire country cries about job loss and excuses are made, the bottom line in this area seems to be the subsidizing of businesses, many with recognizable family names, by further burdening taxpayers and destroying otherwise peaceful neighborhoods. The local IDA seems to have Carte Blanche, godlike control above any concerns of local citizens. However we must not just blame the IDA’s as there has been a greater problem. Broome County was a leader in this part of the state for manufacturing and technology. Many have blamed the loss of business and jobs on the economic climate and unskilled workers. Nothing could be farther from the truth. The fact of the matter is that thanks to our government, NAFTA and GATT allowed for the wholesale offshoring of jobs to many third world countries. Not only were products produced using nothing less than slave labor, the greatest number of millionaires and billionaires was created in America as greedy corporate CEOS reaped the benefits.

    Lets look at EJ’s. It used to be “Which way EJ” but that changed when many competing brands started being produced in Mexico, Taiwan and the like. The local product was undercut. Let’s look at Anitec previously known as GAF. There is no greater example of corporate greed and take over, locally, than Anitec. Just prior to shutting down, Anitec spent a million on safety measures throughout the plant. However these additions were to be short lived in use as International Paper came on the scene and purchased them. There was talk that IP purchased Anitec for a certain product they produced. This was true but there was concerns of competition and as is the norm, the best way to end your competition is to buy them out and with that came the end of Anitec. Once again, corporate greed.

    Looking at the tech aspect one only has to look at who bankrolled many of the other companies in this area and I’m referring to the US Government. This area was for years bankrolled by the backers of the military industrial complex. That in itself has one major flaw, that is “PEACE.” No war, no need for so many plants or contracts. We also have to add into the mix technological advancements and contract competition. The competition often had plants abroad that could do the work for less.

    There are so many examples of lost business in this area but in order to bring it back does it need a taxpayer subsidy ? I say no. If a company honestly produces a product worthy enough of purchase, it will pay for itself and not need the deals. After all, just how much of the “deal” goes into the business and not into the business owners pocket?

    I’ve spewed a lot here and it’s all pretty much from memory so if I’m off a bit feel free to correct me. I haven’t even started on “The Mall” and strip malls. By the way, take some time to see who owns the Vestal Parkway malls and businesses.

    Just remember, the iPad you may be using, was produced in a country that pays a pittance to its workers while the CEO’s still rake in the cash and you paid top dollar.


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