In an attempt to lure businesses to their territory States giveaway BILLIONS of dollars in inducements with hope for collateral return on their, sort of, investment. Whether in the form of grants, tax forgiveness/postponement, building fees/code waivers etc., the numbers are staggering. More importantly, as with the case of massive bond-issues for Pro-Team Stadiums, the revenues generated never compliment the huge monetary burden leaving the taxpayers with the bill.
Moreover, the entire scheme illustrates how the relationship between business concerns and the Public’s trust-in-the-hands of Government has become a perverse form of corporate welfare.
Government is to preserve the public’s interest, not barter it away on proven losers packaged as political graft. The proof of enterprise success is seen thru its economic viability not its demand for subsidy; that’s the domain of private investment and certainly not by conscripting the Publics welfare.
Further, to guarantee private investment return thru regulatory mandate is not a right of business or its operatives, but a risk assumed, as with the potential reward, of the private investor/enterprise and not at the discretion or preview of a public governing body. To relieve any entity of positive-performance rigors is to insure perpetual defeat and this, above all, should never be the function of government.
Curtis C. Greco, Founder
