Two years ago, when companies received a big tax break to bring home their offshore profits, the president and Congress justified it as a one-time tax amnesty that would create American jobs. Full Story »
Posted by Kaizar Campwala
Duh! I've read other studies that show the same thing. Tax breaks and subsidies used by local, state, or federal governments to try to attract businesses and build jobs never do. The government never makes back the taxes, and the number of jobs created always falls short of forecasts. Not usually as short as to run to negative numbers as this program did. But still short. When will governments wake up and smell the reality? This strategy doesn't work unless you're a corporation, one of their lobbyists, or a lawmaker on the take. For the rest of us, it's a disaster. Though this story doesn't connect to these earlier studies, it still shows a good example of this failed policy.
