Aug 6, 2007
Most if not all states have special tax-break programs for companies that invest in poor areas. Given fancy names like “enterprise zones,” the programs are boosted by politicians and business as a way to create jobs.
In New York, state auditors recently sent warnings to 3,000 out of 10,000 businesses getting these breaks. The 3,000 have taken the state’s money and created few or no jobs. And these 3,000 are only the “very worst” freeloaders!
In total, the 10,000 businesses have cost New York taxpayers over 3 billion dollars since 2000. The total number of full-time jobs created? Fewer than 45,000 – since 1986!
Tax breaks for “job creation” are nothing more than shady schemes to give away taxpayers’ money to well-connected businessmen.