Sunday, November 3, 2013

TAX SCAM: Big Companies Go To Court For Tax Relief

What is happening in Texas is occurring throughout the nation.  Big companies are taking their tax woes to the courts and are reaping huge tax cuts.

In Texas companies like Walgreen's are going to court for more tax incentives for dozens of stores and they are getting them.

This has been going on across the nation for a long time and it is a bad idea in the short and long term. It corrupts government and forces property owners to pay a larger share in taxes for educating children.

“If you’re looking at the competitiveness of a region, the most important thing a region can do is to focus on education. And this use of incentives is really transferring money from education to businesses.”

Donald J. Hall Jr., Hallmark C.E.O.

Don't expect it to change anytime soon, since business-friendly states like Texas encourages businesses to come here by offering large tax incentives and thereby incurring large and long-term debt.

Since legislators care more about short-term appearance, since they usually leave office within a 20-year period, it is unclear and often unknown for a much longer time frame what this actually does within a state's long-term fiscal environment.

What is known is that for every tax cut businesses receive from the state, property owners must assume the costs of educating children.

While some tax incentives are needed to encourage business development, the businesses who use the court system for further tax relief are manipulating state taxpayers into paying more than their fair share. 

It needs to stop.

At fault are state legislators who get campaign donations from big companies, the court system that provides even more incentives and the big companies who greedily are out for more profits and tax relief and refuse to pay their fair share.

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