Corbett's Corporate Welfare

[3rd&Brown]

Why is nobody on this board talking about this?

I think it's disgusting. He's giving this money away on top of an already established KOZ in an environment where everyone else is sacrificing.

If the dems can get it together, no way this man won't be a one term gobner.

Shell game! Corbett's "cracked" scheme to give away your cash to an oil giant

[raider.adam]

Yeah, I had posted about it on Facebook (sorry Salsa) and was commenting.

I have never been a fan of the tax break arms race. I tend to believe it ends up as a net loser. Instead of giving money to hand picked individuals/businesses, I'd prefer the money be spent on broad based tax reform and infrastructure/services to make the existing climate better for everyone and not just for mercenaries.

[NickTheCage]

Would you have preferred PA lost the bid and Shell built this plant in Ohio or W V?

[BarryG]

Would you have preferred PA lost the bid and Shell built this plant in Ohio or W V?

So now you are in favor or corporate welfare?

[NickTheCage]

So now you are in favor or corporate welfare?

Huh???

Did Corbett bailout and/or TARP Shell?

[Naveen]

I have never been a fan of the tax break arms race. I tend to believe it ends up as a net loser. Instead of giving money to hand picked individuals/businesses, I'd prefer the money be spent on broad based tax reform and infrastructure/services to make the existing climate better for everyone and not just for mercenaries.

+1.

[3rd&Brown]

Would you have preferred PA lost the bid and Shell built this plant in Ohio or W V?

Aren't you supposed to be a Libertarian? Oh. Okay.

[raider.adam]

Would you have preferred PA lost the bid and Shell built this plant in Ohio or W V?

PA hasn't gotten it yet.

For the record, I was working off an actual news article: PA wants to give oil giant a $1.7B tax break: Update

As for what I preferred? I would prefer Corbett saying "I have $67 million in the budget for the next 25 years that I am dedicating to broad based economic growth. Here are my plans."

[NickTheCage]

Would you have preferred PA lost the bid and Shell built this plant in Ohio or W V?

Aren't you supposed to be a Libertarian? Oh. Okay.

What does individualism, libertarianism, conservatism or any label have to do with my question that you choose not to answer?

[3rd&Brown]

What does individualism, libertarianism, conservatism or any label have to do with my question that you choose not to answer?

If Corbett has 1.7 billion to throw the money at 1 entity, he should instead take that money to reform/reduce corporate taxes for all businesses in Pennsylvania.

Last I read, this is a plant that was already slated for PA. This is just icing on the cake for Shell, at our expense. I never knew the new standard for incentives was to keep throwing money at corporations until they actually broke ground, as opposed to after they already commit.

[BarryG]

Huh???

Did Corbett bailout and/or TARP Shell?

Oh right, I forgot about the funny ideas you people have abut what constitutes a tax decrease.

[NickTheCage]

If Corbett has 1.7 billion to throw the money at 1 entity, he should instead take that money to reform/reduce corporate taxes for all businesses in Pennsylvania.

Last I read, this is a plant that was already slated for PA. This is just icing on the cake for Shell, at our expense. I never knew the new standard for incentives was to keep throwing money at corporations until they actually broke ground, as opposed to after they already commit.

What money did Corbett give/throw at Shell?

[Politburo]

Last I read, this is a plant that was already slated for PA. This is just icing on the cake for Shell, at our expense. I never knew the new standard for incentives was to keep throwing money at corporations until they actually broke ground, as opposed to after they already commit.

They didn't commit.. media might have presented it that way but they are only evaluating a site in PA. It's basically a fishing trip for tax credits, imo. If you don't get what you like, then the site "wasn't suitable".

[BarryG]

...

[MariusPontmercy]

What money did Corbett give/throw at Shell?

So he's giving them a special tax break. Isn't that called the government picking winners? Is it ok with you that the government uses policy to pick winners so long as they don't actually go so far as to give them the money up front?

[raider.adam]

So he's giving them a special tax break. Isn't that called the government picking winners? Is it ok with you that the government uses policy to pick winners so long as they don't actually go so far as to give them the money up front?

Actually, I think he is preparing to offer them tax credits, to be specific, of a type they can resell.

[Naveen]

Actually, I think he is preparing to offer them tax credits, to be specific, of a type they can resell.

That's what the article seems to say:

PA Gov. Tom Corbett has agreed to give the Shell petrochemical interests who plan to build a big ethane plant -- in what's already a tax-free Keystone Opportunity Zone near Pittsburgh -- tax credits totalling $67 million a year, or $1.7 billion in total, over 25 years, starting in 2017.

So it would appear from reading that that Shell is already in a tax-free zone. The $67 mill is technically a tax credit, but is effectively a subsidy (no point giving them a tax credit if it's non-refundable if they're not paying any taxes to begin with).

The question is since the state is cash-strapped, where will the money for this come from?

[NickTheCage]

The question is since the state is cash-strapped, where will the money for this come from?

What money? If the state never had the money in the 1st place they aren't giving it to anyone. They (State) are actually receiving money from the income tax they will collect from employees

[NickTheCage]

So he's giving them a special tax break. Isn't that called the government picking winners? Is it ok with you that the government uses policy to pick winners so long as they don't actually go so far as to give them the money up front?

The state isn't giving Shell any money and I repeat, will actually collect taxes from the employees working at the facility. Now if Exxon/Mobile opens up next door and they aren't given the same freedom and liberty that Shell has received from the state, that can be perceived as the State picking winners and losers

[annie]

They (State) are actually receiving money from the income tax they will collect from employees