Friday, August 12, 2005

The Great American Jobs Scam

The Great American Jobs Scam

From the article:
    Lurking within the records of most cities and states in America there lies a scandal. A tax scandal. A jobs scandal. A corporate and political scandal.

    It’s the Great American Jobs Scam: an intentionally constructed system that enables corporations to exact huge taxpayer subsidies by promising quality jobs – and then lets them fail to deliver. The other benefit often promised – higher tax revenues – often proves false or exaggerated as well.

    Take for example: New York City, which must hold the record for job blackmail, though it is hardly alone. One study of 80 companies that had received “retention” subsidies from the Big Apple found that at least 39 had later announced major layoffs, or they had entered into large-scale mergers or put themselves up for sale – events that usually trigger mass layoffs. A detailed analysis of 10 subsidized companies found they had a total loss of more than 3,000 jobs.
Millions of dollars flow from taxpayers to the corporations, which in turn funnel it to the wealthiest people in Amercia.


At 7:35 PM, Blogger Mike said...

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