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Thread: New Jersey's soaring subsidy program doing little to boost struggling economy

  1. #1
    Taking A Stand!!!

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    Default New Jersey's soaring subsidy program doing little to boost struggling economy

    We have talked about this recently in another thread. The tax breaks given to companies that will supposedly create jobs. Seems it doesn't necessarily "trickle down." Same thing has happened in recent years in NM. Big credits were given to companies that ended up going bankrupt or leaving the state. Breaking Bad paid off for us though!

    New Jersey has awarded tax breaks or credits at a rate of $75.9m per month since Christie came to office in 2010, compared to $10.1m per month during the previous decade, according to a report by New Jersey Policy Perspective (NJPP), a liberal-leaning thinktank.
    Christie, hailed as an early frontrunner for his party’s 2016 presidential nomination before his office was engulfed in the George Washington bridge scandal, has made the subsidy programs a key component of his governorship, claiming they would boost economic activity in the state. The increase in spending has been approved by the Democratic-controlled state legislature.
    “New Jersey has bet the ranch that handing out tax breaks to mostly large corporations alone will somehow improve our economic future,” Gordon MacInnes, the president of NJPP, said in a statement accompanying Wednesday’s report. “So far, it’s clear that the bet isn’t paying off”.
    New Jersey's soaring subsidy program doing little to boost struggling economy | World news | theguardian.com
    capmac48 likes this.

  2. #2
    Retired !

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    Default Re: New Jersey's soaring subsidy program doing little to boost struggling economy

    No surprise there.
    Give breaks to the wealthy and the businesses while the real taxpayer gets the shaft.

  3. #3
    I Am Rocking Now

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    Default Re: New Jersey's soaring subsidy program doing little to boost struggling economy

    One can only rob Peter to pay Paul for so long before Peter is out of money and Paul still needs more,been strongly opposed to rewarding,subsidizing,luring profitable company's with tax dollars,we all know who will pay the ultimate price or tab,declining middle class and working poor..
    fxstc07 likes this.

 

 

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