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Travis County Gives Final Approval to Tax Incentives for Apple Expansion in Austin
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I can only wish that Apple would setup shop in my city and provide 3600 jobs. Even if they are not high paying jobs, the taxes generated would easily make up for any subsidies.
A unemployed person that is currently on social assistance is a drain on public coffers. An employed person with a 35k income still add to taxes... and the higher income earners pay alot more.
$35 million (total) to provide 3600 jobs doesn't even work out to $10k per employee.
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A unemployed person that is currently on social assistance is a drain on public coffers. An employed person with a 35k income still add to taxes... and the higher income earners pay alot more.
$35 million (total) to provide 3600 jobs doesn't even work out to $10k per employee.
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Wall Street Greed had far more influence than any tax cut could ever make up for. I also find it interesting that so many think that basic economics is a Republican idea.
This deal sounds like a win-win.
There are cheaper places for Apple to locate and so this is a small incentive for the difference. It pays for itself in a couple years anyway with increases in local taxes.
But there are bigger issues. When companies start moving out of the high tech centers to reduce cost, like what happened at DEC, IBM and Wang, to low cost areas like North Carolina, they start to decline. So I see this move as a signal not of expansion but as a forward indicator of margin shift in the business (i.e. $38M shouldn't be worth the effort/delay for a company like Apple).
There are cheaper places for Apple to locate and so this is a small incentive for the difference. It pays for itself in a couple years anyway with increases in local taxes.
But there are bigger issues. When companies start moving out of the high tech centers to reduce cost, like what happened at DEC, IBM and Wang, to low cost areas like North Carolina, they start to decline. So I see this move as a signal not of expansion but as a forward indicator of margin shift in the business (i.e. $38M shouldn't be worth the effort/delay for a company like Apple).
Not to mention the increase in employment to build housing, run restaurants, operate food stores, etc. for all these new employees. They will all being paying taxes also. Because of these corporate tax cuts, that area of Texas will prosper and grow while those areas that tax business will dry up and die.
I agree the deal also includes the addition of facilities...
BTW, I'm not saying that Apple should get any tax breaks... just that having someone employed and adding value the tax base and possibly increasing their skill set is way better than being unemployed (all for $10k per head)
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Texas doesn't collect payroll taxes.
They rely solely on sales taxes for revenue.
They are hoping the higher paid Apple employees spend local, which may or may not happen for Austin or even Travis county. Hell part of Austin isn't even in Travis county.
So it's entirely possible for the State to make out better than the local municipalities in the deal.
Ok , I don't fully understand tax things but I image that the City/County/State will still collect some taxes and if you start to think about the possible number of people that will soon be off of unemployment , paying taxes on items and payroll taxes I dont see how anyone will lose in this.
The freeloaders vs the freedom-lovers. The problem is that the freeloading-parasites think their mere existence allows them to force someone else to support them. And numbers of parasites is growing.
Trolls
It used to be trolls were guys stuck in their basement with nothing better to do than to mock, bully, and post false scenarios.
The internet has evolved. Now trolls include political operatives, NSA agents and other government operatives.
This makes posting to public sites like this interesting and a bit noisy, but in a way that is materially different from "the olden days", ie. 10 years ago.
Lilo777, ShiftyPig and others are notable for their railing against fact and sentiment in favor of partisan or governmental spin.
Please let truth at least be posted if not prevail in the minds of readers.
The Constitution itself seeks to save us from our government. In 2012 Government is downright overbearing and omnipresent. I suggest that represents social error.
Rocketman
It used to be trolls were guys stuck in their basement with nothing better to do than to mock, bully, and post false scenarios.
The internet has evolved. Now trolls include political operatives, NSA agents and other government operatives.
This makes posting to public sites like this interesting and a bit noisy, but in a way that is materially different from "the olden days", ie. 10 years ago.
Lilo777, ShiftyPig and others are notable for their railing against fact and sentiment in favor of partisan or governmental spin.
Please let truth at least be posted if not prevail in the minds of readers.
The Constitution itself seeks to save us from our government. In 2012 Government is downright overbearing and omnipresent. I suggest that represents social error.
Rocketman
Agreed. However, currently corporations and government are not mutually exclusive. With lobbyists and now the Supreme Court recognizing corporations as "persons" we have further blurred the line between the two. Couple that with government officials and regulators whose job it is to keep banks and corporations in check being paid off, checks and balances are a fairy tale. Legalities and greed coupled with regulators turning the other cheek were primary factors in what lead to the 2008 financial meltdown (as well as derivatives, betting against defaults, giving mortgages to those they knew could not afford them, etc).
Our founding fathers are rolling in their graves, I believe some should reread our Constitution:
http://www.house.gov/house/Constitution/Constitution.html
That's a funny one. Lord save us from OUR government! Is not it ironic to say the least? I would understand if you asked for help from, say, Iranian government (not that I think they are going to attack us any time soon). The Constitution defines how we elect OUR government. We follow it to a letter, get the government that WE want and then start crying "save us from our government"! Have you thought that perhaps you do not like this government because you a a minority and thus the government does no reflect your priorities? Touch luck. That's what we call "democracy". Perhaps we could change something for the better but that would require changing the constitution.
requote said:
To restate in part: We the People of the United States, in Order to form a more perfect Union, ... promote the general Welfare, ... do ordain and establish this Constitution for the United States of America.
To clarify the PEOPLE promote the general welfare NOT THE GOVERNMENT!!
Just mere Rocketman
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Texas doesn't collect payroll taxes.
They rely solely on sales taxes for revenue.
They are hoping the higher paid Apple employees spend local, which may or may not happen for Austin or even Travis county. Hell part of Austin isn't even in Travis county.
So it's entirely possible for the State to make out better than the local municipalities in the deal.
but that's because one thinks in terms of counties, municipalities, and such boundaries... in the end it's all your tax money regardless of what level of government; so as a tax payer I'd sooner have someone contributing (a little or a lot) than someone draining the overall tax pool.
You are correct, some people may not live in the same tax boundaries as their employment, but I'm referring to the overall tax pool for entire region.
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Yes it's us (we) and the government is a vehicle for achieving our goals. That's the purpose of the government. Our efforts need to be organized and we elect government just for that. It's not like the government is staffed with aliens.
Nope, your are surely confused mate, I don't even live in the US and am in no way American yet I still find it sickening how Apple as I stated uses loop holes in the law that it pays big to ensure do not get closed to evade tax. And even if it didn't, it's still sickening to think in the world we live today, you are more then happy to fully support the world's richest company being "given" 35 million dollars of Americans tax money! Just so it can make a building.... which lets be honest, we all damn well know it would build regardless.
Then again maybe your a very rich person who doesn't live in the 'real' world, just like most of the politicians?
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Your approach is a bit naive as you fail to understand the basic concept of a democracy.
We do not live in one. We live in a democratic republic. There is a major difference between the two.
The issue is the elected officials we send to represent us in Washington have a voice for hundreds of thousands of people. You and I never vote on individual items that appear before Congress. Our representative makes the decisions for us.
Our entire population of over 300 million people is represented by 435 Representatives in the House and 50 in the Senate. They are supposed to be our voice.
That's 485 people making decisions for over 300 million.
Those few individuals can be easily corrupted by the minority if the right kind of "influence" is applied.
Corruption happens at every level of government.
Just turn on the news or open a paper and you will see someone in government being prosecuted. The problem is the damage has already been done and reversing it is nearly impossible.
So to say the government doesn't reflect the will of the people has merit.
Whether you're in the majority or the minority is pretty much moot.