General Electric just signed a deal with my hometown to open a research facility here on the grounds of the University of Dayton. The lab, dedicated to electric power research for the aviation industry, will create 30 to 40 jobs in its first year of operation, eventually leading to as many as 200 jobs.
Which is great, right?
Except that, to get GE to agree to locate the lab here, the City of Dayton had to agree to forego property taxes for 30 years.
That's right--30.fucking.years.
Here's my question to GE: who do you think is going to pay for the road maintenance and the street lights and the cops and the firemen that will service and protect your facility? Not to mention the schools that will churn out your future workers?
When you add to this the fact that GE paid no federal income taxes in 2010, it starts to be clear that this fairy godfather bringing the gift of good jobs is really a giant mooch who just plopped his fat ass on our couch and snapped his fingers for someone to bring him a beer.
I can already hear my pro-business friends arguing that GE has an obligation to their shareholders to keep their tax bill as low as possible.
To which I say, "Maybe they do, but I don't."
So start paying your own way, GE, and stop asking me to pick up your tab.
Note to Old Dog: Do not buy so much as another light bulb from those freeloaders.
GE has been screwing us for a looooooooong time. here's a list of their subisidiaries to avoid
ReplyDeletehttp://www.enotes.com/company-histories/general-electric-company/principal-subsidiaries
I'm with you. God gave us fire. FIRE, Goddammit! We can make steam, hot air balloons, and even CANDLES!
ReplyDeleteWe can barbeque.
The least we can do is join forces and find a way to get Mike Peters on board to help burn GW Bush in effigy until Jesus Christ himself floats down and shows Laura her hubby was Satan all along. At least I guess he prolly had stock in GE, don't you think?
Oh dear! It looks like GE learned their tax evasion skills from French companies.
ReplyDeleteThis just sucks. If they make a profit, they are doing better than the rest of us. With a 5% cut in teacher's salaries this year, our family is sinking.
ReplyDeleteBut we do pay our property taxes.
Our news recently released the results of a study showing that companies have usually already chosen a location before the local govt becomes aware. The study shows that tax credits usually have little to do with their choice of location. However, if they get enough tax breaks somehow the local politicians end up with bigger houses and savings accounts...Don't know that to be true in Cincinnati but it seems to be a trend...Is my pessimism showing?
ReplyDeleteThey may not have to pay taxes, but your blog is way better than theirs!
ReplyDeleteThis is typical of the dirty deals that still are the unacceptable face of capitalism - and politics, too, for that matter.
ReplyDeleteEverything you said, Dave and the others...they are still housing and running a facility east of Dallas, which does employee many, but I am sure they are there in that desolate place because of saving money on their part...
ReplyDeleteHave you read about their recent deal with Chine?
ReplyDelete