Saturday, July 16, 2011
Bringing Good Things to Light
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.
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.