Quick story. My grandfather once risked 80% of his total worth to start a company in a depressed town that was desperately in need of jobs. He obviously believed in his idea and understood the risks.. but also was genuinely trying to help the town.
As part of the negotiation to put the required millions into the venture, he gained approval from both local and state government to have relief from both corporate income tax and sales tax for a period of years. As a result of years of struggle, unassuredness, and fortitude, the venture was considered a success. More than 700 employees were hired (with less than 10% at minimum wage) and the town then drew in more business because the community could better support those businesses. These brought even more jobs and now that town is flourishing.
I sincerely believe had it not been for my grandfather and forward thinking politicians the town would have failed or still be stuck in rough rut.
But you know what? Even though my grandfather receivee multiple humanitarian of year awards.. he still had some that resented his success ane felt it was unfair that he got to build his company free of taxes in the beginning.
I have lived in Philly for awhile, and worked A TON in North Philly, possibly the poorest area in the country. There are empty warehouses EVERYWHERE in North Philly. Places where people could be working.
I've often wondered aloud, why doesn't the city of Philadelphia go to companies like Nike, or Apple, or any other large corporation and say, "We will let you operate for 10, 20, etc years TAX FREE, providing you do a, b, c (like hire at least xxxx employees, average wage at $***, provide xxxx benefits). It would cost the city NOTHING to do. It would take an area of over 200,000 people where over 70% live below poverty and give them jobs.
With jobs, comes salaries. With salaries comes pride in ones self. With pride comes home ownership, then comes a desire to keep up your investment. With that comes a desire to improve the neighborhood, leading to less crime, more education, which leads to higher salaries.
ALSO, it takes a neighborhood where over 70% of the inhabitants are receiving government aid, gives them jobs, and instead of those people relying on taxpayers to survive, THEY BECOME TAX PAYERS. The government has effectively raised their revenues while lowering their overhead.
But, this will never happen because IT'S NOT FAIR THAT APPLE DIDN'T PAY TAXES. Everyone else in the city improved their lives, BUT NIKE MADE TOO MUCH MONEY. So, let's screw over the WHOLE CITY, just to make sure Nike/Apple/Mitt doesn't earn any money.
Yeah, the left is just in it to help people succeed. Give me a break.
It's like in the debates, where President Obama was told by the moderator that lowering the capital gains tax raised revenue for the government, but Obama was against it because, "it wasn't fair."
Moron.