February 12, 2013 |
Gov. Jerry Brown ought to cut his Texas brother, Rick Perry, a little slack. Texas Gov. Perry arrived in the Golden State this week trolling for California businesses he could poach and carry home with him in his saddlebags. His trip here comes on the heels of a Texas radio come-on, which aired statewide, and which Brown memorably dismissed as "barely a fart. " But there are reasons why Perry's efforts deserve more serious scrutiny. One is that the campaign exposes an important shortcoming of Texas' job-development program: It focuses on using incentives to steal jobs from other states because it's not so hot at creating jobs from scratch.
January 10, 2013 |
When President Obama signed the "fiscal cliff" legislation, the middle class wasn't the only group saved from tax hikes. The new law, which rescinded the automatic tax increases and spending cuts that would have gone into effect beginning Jan. 1, includes 52 "extenders," legislative extensions of expired or soon-to-expire laws. And many of the extenders benefit interest groups and specific corporations. The total cost of this package of special giveaways is roughly $64 billion - about $325 for each of the 197 million individual taxpayers in the country.
CALIFORNIA | LOCAL
May 2, 2012 |
SACRAMENTO - You might think a tax law that rewards companies for killing California jobs and resurrecting them in another state would be dumped. Very quickly. Especially if it also rewards them for selling off property here and rebuilding elsewhere. Or, put another way, if the law provides a tax incentive not to hire or invest in California in the first place. You'd repeal it. A no-brainer. Makes no sense, except for the companies using the loophole while profiting from selling their products here in the nation's largest consumer market.
February 8, 2012 |
Executives from the U.S. hydropower, geothermal and biomass power industries called Wednesday for the passage of a congressional bill that would extend production tax credits to all renewable-energy projects. The leaders were referring to H.R. 3307, the American Renewable Energy Production Tax Credit Extension Act of 2011. The bill has been offered by Reps. Dave Reichert (R-Wash.) and Earl Blumenauer (D-Ore.) and has drawn bipartisan support from more than 60 co-sponsors. Failure to pass the bill, the executives said, would put thousands of jobs across the country at risk, stall active energy projects and make it very likely that few new projects would get the funding necessary to begin.
January 25, 2012 |
President Obama preached a message of hope to factory workers on Wednesday as he began a sales pitch for his plan to boost U.S. manufacturing through changes to the tax code. Speaking to employees and owners of a conveyor belt plant in Cedar Rapids, Iowa, Obama talked about the rising cost of doing business in China and predicted that more American companies will see the wisdom of setting up shop at home. "Wages are going up," Obama said of the Chinese economy, and it "starts becoming cost-prohibitive" to operate there.
January 12, 2012 |
As Mitt Romney defends his record running a private equity firm, he frequently points to a fast-growing Indiana steel company, financed in part by Bain Capital, that now employs 6,000 workers. What Romney doesn't mention is that Steel Dynamics also received generous tax breaks and other subsidies provided by the state of Indiana and the residents of DeKalb County, where the company's first mill was built. The story of Bain and Steel Dynamics illustrates how Romney, during his business career, made avid use of public-private partnerships, something that many conservatives consider to be "corporate welfare.