Quote:
Originally Posted by PhillyPDX
This is the logical fallacy. It could be extended to any firm or person. Wells Fargo would not exist here if we don't reduce their taxes (if Portland offered). Welp, they are leaving. But for a tax incentive, they leave. You could offer them to pay no taxes, which is effectively net zero like a stadium. But that's a FAR cry from them being here AND paying into state coffers like everyone else does.
Sure it's net zero, but it's literally the same concept. Rich owners just pay back loan instead of paying into state coffers to support the state budget.
Can I get a loan to redo my kitchen and then pay back that instead of my taxes? With the current school situation lots of folks are on edge, and data say many are leaving.
Now, this all being said, state subsidies, which this very much is, could be warranted, just as it's sometime warranted for businesses. I'd love a baseball team. But don't fool yourself, this is a subsidy.
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It's as much of a subsidy as an urban renewal district is a subsidy. So in that case, I am okay with subsidies when they are self containing like this.
And for an example, it is more like taking a loan on your mortgage to renovate your kitchen. Sure, you will have to pay for it but the bank is helping you get it done now.
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