A tax deal, left us 535 million short
Last year Beacon Hill approved incentives for business in our State, which will cost us 535 million dollars over the next 8 years. This gimme was to entice businesses, which turns out, let some businesses to sidestep certain tax liabilities.
This happened under Deval's watch and it turns out that 128 corporations that will claim deductions of 178.1 billion, which will cost us 535 million. Three of the largest corporations in the state will benefit the most.
While I do believe small business will lead us out of trouble in the future, tax breaks for the biggest of companies may only serve to keep things the way they are, the rich get richer.
posted by Jim Pillsbury @ 11:09 AM
4 Comments
4 Comments:
Whoever is the lobbyist for those small businesses here in MA is sure doing a good job. Now, too bad we could not get some to lobby as well for the residents of MA. Does Deval say this loop hole was intentional and planned, or is he saying they missed the boat on this one? Seems to me he and his advisors miss the boat on an awful lot of things.
JJ.... Deval's spokesperson and a few of the committee chair members have said, "If they only knew the bottom was going to fall out of the economy", they would have done something different..... this was just last year.
I'll bet most of the readers of this blog knew.. or had strong suspicions the economy was tanking.
I heard today 2000 layoffs in the state payroll. Its about time. Will be interesting to see where those layoffs occur.
You can bet it won't be the people we think should go Arnold. It will be at the very bottom, those who serve the very neediest of society.
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