An article written by the executive director of the Georgia Budget and Policy Institute in a recent edition of Creative Loafing blasted the state for using tax breaks to lure and keep businesses here.
First, low tax enticements reduce the state’s ability to generate revenue. Second, corporations can facilitate bidding wars among states to obtain huge tax concessions without ever offering assurances that a move to Georgia is for the long term. Third, the enticements are designed to favor large corporations, rather than the thousands of small businesses that truly provide the potential and fuel for Georgia’s economic growth.
Most significantly, research hasn’t shown that corporate tax incentives are a deciding factor in luring or keeping major businesses. In fact, many corporate executives have stated on the record that an educated work force with a solid work ethic is far more important.
I’m sure that the education system is an important factor, but I couldn’t disagree more with the remaining contentions.
Share your thoughts . . .