GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

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Thread: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

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    GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    GM Gets Tax Break for New Plant Next to Factory It Closed
    New York Times
    Feb 19, 2020

    General Motors Co. will receive a tax break to build a new electric battery cell factory in Ohio next to the site of a much larger assembly plant it shut down last year.

    Village leaders in Lordstown approved a 75% tax abatement that will extend over 15 years and allow the company to move forward with the plant.

    “What we had to get done and needed to get done for General Motors, we did," Mayor Arno Hill said after the vote Tuesday.

    More at the link.
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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Classic corporate welfare, with the elected officials falling all over themselves to “give away” tax money - at the expense of working and retired people.

    I guess the massive bailout wasn’t enough.

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by 1999 White C5 Coupe View Post
    Classic corporate welfare, with the elected officials falling all over themselves to “give away” tax money - at the expense of working and retired people.

    I guess the massive bailout wasn’t enough.
    People voted them in. Just has to go back to votes on this one. If someone is opposed to it, they should run for office.

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by 1999 White C5 Coupe View Post
    Classic corporate welfare, with the elected officials falling all over themselves to “give away” tax money - at the expense of working and retired people.

    I guess the massive bailout wasn’t enough.
    Tax Break for a Plant that was there for Decades.

    $$$$$$$$$'s well spent!

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Don't worry, those people who end up working in that factory will have additional taxes taken out to pay for this corporate welfare...

    Just blame it on Putin...or the Ukrainians..
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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Par for the course; ire will be directed toward General Motors, when it is taxpayer-stolen funds that government officials used to bribe private companies for favors, with no accountability.

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by 09W View Post
    Par for the course; ire will be directed toward General Motors, when it is taxpayer-stolen funds that government officials used to bribe private companies for favors, with no accountability.
    Most people that vote pay no net taxes. This is a problem, therefore, its difficult to hold the government to account through voters. Also, remember vote registers in most counties around the country are not accurate and are maintained by people with vested political interests in the outcomes, hence the Iowa debacle, shipping people from out of state was the order of the day.
    Its a rigged system.

    Quote Originally Posted by GMOwner View Post
    Don't worry, those people who end up working in that factory will have additional taxes taken out to pay for this corporate welfare...

    Just blame it on Putin...or the Ukrainians..
    You forgot, the racists with red hats...

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by 09W View Post
    Par for the course; ire will be directed toward General Motors, when it is taxpayer-stolen funds that government officials used to bribe private companies for favors, with no accountability.
    I really have no ire towards GM. This really is funds theft like you say. It's annoying that this has become the norm.
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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Politicians [and those that look upon the system with general favor], will continue to push the narrative that voting is some sort of control element, IE: a quality of performance control element.
    But look at Congress- something like an 11% approval rating, and something like a 90% incumbant rate. Thus the encouragement of 'vote if you disagree'; they know it's grossly unlikely to happen. And with that established, they act with general carte blanche.
    Bypassing tax collection is bribery, plain & simple, and bribery is almost always a criminal act. Companies have to locate their facilities somewhere; make tax incentives illegal and let the chips fall where they may.

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    General Motors is the king of corporate welfare. Back in 2012, NYT reported that General Motors received $1.76 billion in tax breaks, grants, and/or free services from state and local governments in the U.S. in the five year period between 2007 and 2012 - more than any other company.
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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by 09W View Post
    Politicians [and those that look upon the system with general favor], will continue to push the narrative that voting is some sort of control element, IE: a quality of performance control element.
    But look at Congress- something like an 11% approval rating, and something like a 90% incumbant rate. Thus the encouragement of 'vote if you disagree'; they know it's grossly unlikely to happen. And with that established, they act with general carte blanche.
    Bypassing tax collection is bribery, plain & simple, and bribery is almost always a criminal act. Companies have to locate their facilities somewhere; make tax incentives illegal and let the chips fall where they may.
    Yeah. YOUR congresshomie is a schmuck, OTOH MY congresshomies is soooo coool! That's how the idiots think, that's why the 90%++ return rate for congresshomies and sinators. Yes we can. Job security.
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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by gkr778 View Post
    General Motors is the king of corporate welfare. Back in 2012, NYT reported that General Motors received $1.76 billion in tax breaks, grants, and/or free services from state and local governments in the U.S. in the five year period between 2007 and 2012 - more than any other company.
    They were offered it, technically 'legally'. It's basically your civic duty to take money back from the Gov't (since they took it from you).
    The problem I have it how wantonly Gov't throws it around.

    GM also has/had more plants/facilities than any other automaker, so that's kind of a 'duh'.

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by mbukukanyau View Post
    People voted them in. Just has to go back to votes on this one. If someone is opposed to it, they should run for office.
    Quote Originally Posted by GMOwner View Post
    Don't worry, those people who end up working in that factory will have additional taxes taken out to pay for this corporate welfare...

    Just blame it on Putin...or the Ukrainians..
    Quote Originally Posted by mbukukanyau View Post
    Most people that vote pay no net taxes. This is a problem, therefore, its difficult to hold the government to account through voters. Also, remember vote registers in most counties around the country are not accurate and are maintained by people with vested political interests in the outcomes, hence the Iowa debacle, shipping people from out of state was the order of the day.
    Its a rigged system.


    You forgot, the racists with red hats...
    Or George and Bathhouse Barry. Here's a good one: If they'd not done what they did back then, we might not even be having this conversation.

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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by 09W View Post
    GM also has/had more plants/facilities than any other automaker, so that's kind of a 'duh'.
    GM's lobbying clout in the U.S. is also greater than any other automaker too. The company is famous for aggressively pitting municipalities and states against each other for incentives, reverse auction style. For example, in the 1990s GM told officials in Moraine, Ohio that its assembly plant there would be competing against Linden Assembly in New Jersey and Shreveport Assembly in Louisiana for new work. Moraine caved in to GM's demands and offered them major tax breaks. Later, it was revealed that GM hadn't been in discussions with Linden and Shreveport at all. Moraine's craven government officials decided not to rescind GM's tax breaks after a GM manager supposedly apologized for the company's misleading information during negotiations. GM eventually closed all three plants (Moraine, Linden, and Shreveport).

    GM's fiduciary responsibility to its shareholders is of course to maximize profitability, and that includes pursuing any and all opportunities to receive corporate welfare. Ideally for GM executives, welfare above and beyond what its competitors get. By the same token, taxpayers have a responsibility to demand their elected officials not assent to bribery.

    I like former Delaware governor Jack Markell's proposal (incidentally, Markell approved tax breaks for GM in hopes of "saving" Wilmington Assembly, which was a failure):

    Quote Originally Posted by Jack Markell
    Congress should institute a federal tax of 100 percent on every dollar a business receives in state or local incentives that are directed specifically to that company. This would not include investments in public infrastructure, work force development or other investments that can attract employers while also providing a significant long-term benefit to taxpayers.

    This tax would, however, end payouts that go directly to a company’s bottom line and would eliminate the pressure these companies are under to pursue such enticements. I’m talking about incentives like direct grants to a company in exchange for the creation of a specific number of jobs (something we did in Delaware while I was governor) or free or reduced land or the passage of a tax policy tailored specifically to one company.

    States would still compete for these jobs — but they would do so in a way that better aligns with the long-term interests of taxpayers and the businesses themselves.

    States and municipalities would also retain the ability to institute tax-friendly policies for certain sectors — like small businesses or high-tech firms (Delaware, for example, has instituted one of the most attractive research and development tax credits in the country).

    This approach would provide a significant victory for taxpayers. Instead of making direct payments to businesses, states and municipalities would invest in and compete solely based on factors that make the most difference for an area’s economic potential and for a company’s ultimate success, like the abilities of the work force, the excellence of their schools and the quality of life for residents. That is a competition worth having.
    Last edited by gkr778; 02-22-2020 at 09:22 AM.
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    Re: GM Gets Tax Break for New Plant Next to Factory It Closed: NYT

    Quote Originally Posted by gkr778 View Post
    General Motors is the king of corporate welfare. Back in 2012, NYT reported that General Motors received $1.76 billion in tax breaks, grants, and/or free services from state and local governments in the U.S. in the five year period between 2007 and 2012 - more than any other company.
    HOLDEN gets twice as much government funding as Australia's two other car manufacturers - even though it builds fewer cars than Toyota.
    (2013 Headline)

    Holden squeezed AUD 2.1 Billion over 12 years from our Federal government (not including State) equating to $2100 per car produced.
    ....
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    ....

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