Aug 16, 2010
The Los Angeles City Council voted to give Eli Broad, a billionaire real estate man and financier, 30 million dollars for a parking garage next to a museum he is planning to build. This museum is part of the Grand Avenue Project – a 16-acre development which will include upscale businesses and a luxury hotel – for which the city is providing the land and more tax breaks to businesses involved.
The same politicians who claim the city has a nearly 500-million-dollar budget deficit nonetheless handed out big gifts to wealthy businessmen. Gifts paid for by cuts in library hours and more than 100 librarians laid off. Gifts paid for by cuts and early retirement forced on city workers.
Don’t tell us that tax breaks create jobs. Politicians have been telling that lie for decades. No jobs were created – only more profits for the wealthy.