Friday, December 09, 2011

Corporate Extortion of Taxpayers is getting ridiculous

In keeping with the Obama administration's new governmentspeak, we are now apparently supposed to believe our state government officials should spend taxpayer money to "save" jobs. It was ridiculous enough to hear these buffoons say they could "create" jobs. As always, this has nothing to do with creating or saving jobs. These are BRIBES paid to corporate extortionists so politicians can claim credit at election time...this crapola has got to stop.

In this case, "Kentucky Economic Development" paid two companies to stay put. Hell, why can't individuals get in on this game....lets demand a tax breaks on our property taxes before we will build a house. If this is good for corporations, it ought to be good for home buyers.

Link
LEXINGTON, Ky. (AP) - Kentucky has given the new owner of the Long John Silver's and A&W restaurants tax incentives to place its headquarters in Lexington once a purchase from Louisville-based Yum Brands is completed later this month.

The Kentucky Economic Development Finance Authority on Thursday approved state tax incentives for the ownership, which estimated costs of $1.89 million for the location in Lexington. Assuming the company hires 30 people within 10 years, the tax incentive deal will allow it to keep $600,000 that it would otherwise pay in taxes.

Kevin Bazner, who heads the company buying A&W Restaurants, told the Lexington Herald-Leader that the company could potentially double its employee base to 60 in Lexington in the next five years.