Young Philly Politics - corporate welfare http://youngphillypolitics.com/?q=taxonomy/term/1568/0 en Pennsylvania Tax Giveaways and an Island in the Sun http://youngphillypolitics.com/?q=pennsylvania_tax_giveaways_and_island_sun <p><strong>By Jamar Thrasher, <a href="http://thirdandstate.org/2012/november/pennsylvania-tax-giveaways-and-island-sun">Third and State</a></strong></p> <p>A few weeks ago, the Pennsylvania General Assembly fast-tracked <a href="http://pennbpc.org/top-10-reasons-vote-no-paying-boss-work-tax-break" target="_blank">a bill</a> in the waning days of the legislative session to allow certain private companies to keep most of the state income taxes&nbsp;of new employees. News reports to follow indicated the new tax giveaway was designed to lure California-based software firm Oracle to State College.</p> <p>Well, it turns out the CEO of Oracle, which will benefit from the largess of Pennsylvania taxpayers, recently bought his very own Hawaiian island, as CNN <a href="http://www.cnn.com/2012/06/20/us/hawaii-ellison-island/index.html" target="_blank">reported</a> back in June.</p> <p>Oracle CEO Larry Ellison, the third richest man in the U.S., purchased about 98% of Lana'i, the sixth largest of the Hawaiian islands. Forbes <a href="http://www.forbes.com/sites/briansolomon/2012/10/12/report-larry-ellison-enters-billionaire-auction-for-sports-entertainment-empire/" target="_blank">reported</a> that the deal was rumored to be worth $500 million.</p> <p>As CNN tells us:</p> <blockquote><p>The island includes two luxury resorts, two golf courses, two club houses and 88,000 acres of land, according to a document filed with the Public Utilities Commission.</p> </blockquote> <p>Which bring us back to Pennsylvania, where Governor Corbett recently signed House Bill 2626, allowing qualifying companies that create at least 250 new jobs within five years to pocket 95% of the personal income taxes paid by the&nbsp;new employees.&nbsp;</p> <p><a href="http://youngphillypolitics.com/?q=pennsylvania_tax_giveaways_and_island_sun">read more</a></p> http://youngphillypolitics.com/?q=pennsylvania_tax_giveaways_and_island_sun#comments corporate welfare economic development Income Inequality Pennsylvania Pennsylvania Budget State Budgets Tax Giveaways Taxes http://youngphillypolitics.com/?q=crss/node/8546 Thu, 08 Nov 2012 16:02:31 +0000 Thirdandstate.org 8546 at http://youngphillypolitics.com A Rare Victory In The Endless Fight Against Corporate Welfare http://youngphillypolitics.com/?q=rare_victory_endless_fight_against_corporate_welfare <p><strong>By Mark Price, <a href="http://thirdandstate.org/2012/october/morning-must-reads-rare-victory-endless-fight-against-corporate-welfare">Third and State</a></strong></p> <p>In a rare victory against corporate welfare in Pennsylvania, Ahold USA has withdrawn its request for property tax breaks for a meat-packaging facility it is building in Lower Allen Township, Cumberland County.</p> <ul> <li>Jim Ryan, <em>Central Penn Business Journal</em> — <a href="http://www.centralpennbusiness.com/article/20121017/CPBJ01/121019816/Ahold-drops-LERTA-request-for-meat-packaging-plant" target="_blank">Ahold drops LERTA request for meat-packaging plant</a></li> <li>Monica Von Dobeneck, <em>The Patriot-News</em>&nbsp;—&nbsp;<a href="http://www.pennlive.com/midstate/index.ssf/2012/10/ahold_usa_withdraws_request_fo.html#incart_river_default" target="_blank">Giant Foods owner withdraws request for tax break for its meat repackaging plant in Lower Allen Township</a></li> </ul> <p>As Michael Wood <a href="http://www.pennlive.com/editorials/index.ssf/2012/10/corporate_tax_break_for_ahold.html" target="_blank">explained</a> before the request was withdrawn:</p> <p><a href="http://youngphillypolitics.com/?q=rare_victory_endless_fight_against_corporate_welfare">read more</a></p> http://youngphillypolitics.com/?q=rare_victory_endless_fight_against_corporate_welfare#comments corporate welfare economic development Pennsylvania Pennsylvania Budget Tax Giveaways Tax Incentives Taxes http://youngphillypolitics.com/?q=crss/node/8540 Thu, 18 Oct 2012 20:53:53 +0000 Thirdandstate.org 8540 at http://youngphillypolitics.com New Abatement Article http://youngphillypolitics.com/?q=new_abatement_article <p>The New York Times has a <a href="http://www.nytimes.com/2009/03/02/nyregion/02border.html?ref=nyregion">good article</a> on tax subsidies and abatments poaching from the high-tax climate of New York. Interestingly, one of the main opponents to big abatments is Kevin Gillen of Econsult.</p> http://youngphillypolitics.com/?q=new_abatement_article#comments abatments corporate welfare taxation http://youngphillypolitics.com/?q=crss/node/5111 Mon, 02 Mar 2009 21:30:53 +0000 Joshua911 5111 at http://youngphillypolitics.com