And that's not even counting the tens of billions of dollars states and counties waste in giveaways to corporations who might - but usually don't - create lots of jobs.
From Firedoglake:
Very cool data base, showing taxpayer $s cities, counties and states spend trying to lure businesses. $s are shown in per capita and % of state budget dollars, too. TX is tops, with MI , NE, WV and OK following. 2012 poverty stats for comparison.Here's Kentucky.
Kentucky spends at least $1.41 billion per year on incentive programs, according to the most recent data available. That is roughly:
- $324 per capita
- 15¢ per dollar of state budget
Top Incentives by type
$264 million in Personal income tax credit
$108 million in Sales tax refund, exemptions or other sales tax discounts
$69.2 million in Corporate income tax credit, rebate or reduction
Top Incentives by industry
- $569 million in Oil, gas, mining
- $341 million in Agriculture
- $180 million in Manufacturing
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