Tax Incentives Are a Scourge To Society
Though legal and popular, tax incentives are a scourge to society. Think of a financial planner taking money from all his or her accounts, without them even knowing, and giving it to his or her favorite, hoping it will somehow make beneficial choices for all. For regular citizens, this type of practice usually invites prison time (remember Bernie Madoff).
Sadly, it appears that every city in Idaho uses them, and it seems that most, if not all, politicians endorse and promote them as a way to expand their control and influence. In talking with local business owners, tax incentives are not as popular, because it creates unfair competition.
Anytime money is taken from the locals and gives it as an incentive to a “special” business (usually an interstate or multi-national corporation) coming into a city, it predictably gives an unfair advantage over the others. For example, allowing them the ability to sell their product for a lower price. Tax breaks allow these incoming businesses to purchase property at higher prices, which limits local business development.
Unlike local businesses, these corporations have large, legal staffs that can influence people in government to expedite proposed zoning changes, property acquisition and building permits. Instead of the profits being spent locally, they are then sent out-of-town to corporate headquarters.
Local tax payers are then expected to support the fake growth, which yields little or no financial benefit to the local economies, just higher tax bills for you and I. What follows, is the removal of the independent businesses and hence the free market economy. The new culture and policies inherent in large corporations will make the collective more important than the individual, which is the opposite of how our form of government is supposed to work.
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