As Companies Seek Tax Deals, Governments Pay High Price

By Louise Story

This article is about the ludicrous tax breaks rewarded to large companies, such as General Motors, by our political leaders. Such unfair tax breaks are now turning around and hurting the government as such companies are going into bankruptcy after years of unknown aid. The author opens the article simply stating: "In the end, the money that towns across America gave General Motors did not matter" to lay out her opinion of the matter. Because in the end, American tax dollars were fueling these large companies without the citizens knowing, and even though it was secretive with the idea that it would help these companies and spur job growth, the effect was the opposite. And while governors and mayors fought to keep GM factories in their towns to continue job growth by giving extremely large bribes (up to $153 million), GM "walked away and, thanks to a federal bailout, is once again profitable". So all of the money that we, Americans, gave unknowingly to the company has made them profitable while we lose the jobs. What is sad is that it has not only been General Motors who have turned their back after such large donations, but many others as well. In total, our political leaders have given about $170 billion as incentives to companies who have in turn turned their back on such officials. The author finishes the article stating that many would continue with the incentives if the companies returned to the cities to offer jobs. She finishes the article by trying to remind the reader that if we continue to let them govern us, we will end up right back where we started. 

http://www.nytimes.com/2012/12/02/us/how-local-taxpayers-bankroll-corporations.html?hp&_r=0