bluesguy1952
Member
It might be legal, but at least some taxpayers in texas are getting very tired of it. As i said before, there is a growing movement in Texas to audit these funds of taxpayer money going out to companies.
Is it legal if the company was supposed to hire 1,000 employess by year 3 or 4 and 10 years later they have 50 employees. I's say the companu broke it's side of the contract. But does Texas try to get the money back? No, the extend several more years. And they wouldn't get it back anyway. This is from another article I read in thee paper and no I cannot quote it exactly or give a web address.
This is verbatim from the paper:
Time for an overhaul or slashing of business incentives
Is it a business incentive or corporate welfare, a tax break or a slush fund to give away taxpayer money to corporations.
Activists from across the political spectrum are questioning Gov Perrys Open for business schtick of funding corporations, and frankly its about time.
Bill Peacock, VP of Research at the CONSERVATIVE think tank Texas Public Policy Foundation calls incentives an inefficient use of taxpayer money. They take money from taxpayers and place a bet It takes money from a group of taxpayers and gives it to a company.
Texas democrats have long criticized Perrys funds as enriching corporations while leading to cuts in public schools and health care etc. The democratic candidate for Governor, Senator Wendy Davis, authored a law that requires a public audit of them for the first time.
State Tech Fund Under Fire
In 2009 Gov Perry awarded $2.5 million of taxpayer money to new bio tech firm American Stem Cell. Five years later, its CEO and employees live in California and its San Antonio headquarters amount to little more than a horse pasture.
When it comes to startups supported by the Texas Emerging Technology Fund, this story is nothing new. More than 20% of the firms that received money from the state fund have gone bankrupt.
Now as the fund nears its 10th anniversary and the governor who oversaw its creation reaches the end of his tenure, it and other incentive programs are facing scrutiny
So your main bitch is Texas is not getting their fair share of taxes from the corporations. Correct?
Not even close to what I am saying. I did not say anything about taxes from corporations.
I am saying that Perry is using our tax dollars to pay companies to move here. We severely cut back on education and a lot of basic services (healthcare and others) so that we can give our (my) money to Toyota ($40 million) and Toyota (and Chevron) said they were moving here already. We have the highest rate of uninsured (healthcare) of any state, per capita. So we cut back on social services and give $40 million to Toyoya, who was moving here anyway! And a lot of the other smaller companies never even move here, don't live up to their end of the deal. It's all so Perry can brag about jobs he brought to Texas because he's going to run for Pres again.
It is already known but barely legal that he has given money to donors etc that only barely stayed within the boundary of legality.