RSS

The Boeing Bribe

09 Dec

According to Wikipedia, “a tax credit is a sum deducted from the total amount a taxpayer owes to the state. A tax credit may be granted for various types of taxes, such as an income tax, property tax, or VAT. It may be granted in recognition of taxes already paid, as a subsidy, or to encourage investment or other behaviors.”

With the enactment of SB1 in Missouri, when Boeing shows a profit and there are $150,000,000 in taxes due for 2014, then Boeing will pay NO taxes.  I repeat; Boeing will pay no taxes.  However, if McDonald’s shows a profit and there are $150,000,000 in taxes due, then McDonald’s will pay $150,000,000 in taxes.

When a corporation shows a profit, a portion of that profit is collected in taxes and is the property of Missouri’s citizens. Boeing is being handed $150,000,000 of Missourians’ tax dollars.  How is this not corporate welfare?

This is the epitome of picking winners and losers
This is 100% anti-free-market
This is 100% anti-capitalism
This is 100% crony-capitalism.
This is 100% corporate welfare… ..giving property of Missouri taxpayers to a specific corporation.

So, the legislators that approved SB1 voted for picking winners and losers, anti-free-market, anti-capitalism and crony-capitalism legislation.  Is this why you sent them to Jefferson City?

But, what’s worse is that our Governor and General Assembly spent nearly $100,000 proving that they have created an anti-business climate in Missouri.  That’s the real travesty of this Special Session; Missouri is so anti-business, they have to bribe companies to come here.

Stunningly disappointed.

h/t wsj.com

It’s only a 3-page bill, so take the time to read it.  The reasons for the emergency clause seem to be completely at odds with reality.  Add a couple of clauses related to affirmative action and everyone… …but the taxpayer… …is happy.

Advertisements
 
5 Comments

Posted by on December 9, 2013 in Capitalism, Free Market, Republican

 

Tags: , , ,

5 responses to “The Boeing Bribe

  1. Gill O’Teen

    December 10, 2013 at 9:54 am

    This is nothing more than an appeal for 2014 union support.

     
  2. Chris

    December 10, 2013 at 9:56 am

    It appears your argument is based on the premise that Boeing’s money is the government’s/taxpayer’s money. Boeing’s allegiance is to it’s shareholder’s, not the government, and certainly not the taxpayers. Boeing’s money only becomes the government’s/taxpayer’s money through confiscations, which should be illegal. Your rant should be against the taxes themselves, not that Boeing can negotiate their way out of them. If you want Free Markets, get your hand out of Boeing’s wallet….

     
    • Jefferson's Ghost

      December 10, 2013 at 4:37 pm

      Chris that’s so much spin, it is too dizzying to comprehend….the only thing I agree with in your statement is the implication “that we should be against taxes themselves.” That one pithy observation, does not excuse the encouraging of raping the other small business entrepreneurs and individuals who have to bear the brunt of taxes with no bribery from the state (or as you say, negotiate their way out of them…The premise of tax credits is immoral, and unethical, just like the whole philosophy of the “income tax.” And, even after all that, why would Boeing accept a temporary exemption from the EVIL Income tax, when they could locate in a NO INCOME TAX state like TEXAS?

       
      • Chris

        December 10, 2013 at 10:11 pm

        JG, you make my argument for me! You state that tax credits are as immoral and unethical as the income taxes themselves. What else needs to be said? You agree both are evil, but argue for evil against evil. It is your argument my friend that is dizzying….

         

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: