Lines Blur as Texas Gives Industries a Bonanza

[Gerald]

DALLAS — The Preston Hollow neighborhood has been home to many of Texas’ rich and powerful — George and Laura Bush, Mark Cuban, T. Boone Pickens, Ross Perot. So it is hardly surprising that a recent political fund-raiser was held there on the back terrace of a 20,000-square-foot home overlooking lush gardens with life-size bronze statues of the host’s daughters.

The guest of honor was Gov. Rick Perry, but the man behind the event was not one of the enclave’s boldface names. He was a tax consultant named G. Brint Ryan.

Mr. Ryan’s specialty is helping clients like ExxonMobil and Neiman Marcus secure state and local tax breaks and other business incentives. It is a good line of work in Texas.

Under Mr. Perry, Texas gives out more of the incentives than any other state, around $19 billion a year, an examination by The New York Times has found. Texas justifies its largess by pointing out that it is home to half of all the private sector jobs created over the last decade nationwide. As the invitation to the fund-raiser boasted: “Texas leads the nation in job creation.”

http://www.nytimes.com/2012/12/03/us...-texas.html?hp

That sounds good,“Texas leads the nation in job creation.”


Note: December 2, 2012

[Gerald]

^
The Samsung fabrication plant, seen in the background, while a neighborhood boy swings on the playground of the Pioneer Crossing Elementary School. Samsung has been awarded more than $231 million in tax breaks from the state of Texas.

[yubba]

Thats what I call a business freindly environment..they could have gone to mexico like corning glass did here in New York god it's awful up here can't wait to get back to florida.

[soopaman2]

How is that gonna do, when they leave the union, and have to support all their own social programs, and defense?

How long until they turn it into New(est) Mexico? Cartels, got it good!

They seem to think they can do so well without the rest of us, I say let them try, all those minimum wage jobs, and zero corp taxes will get so much done amongst anyone who wants to make less than 7$ an hour... Like a Mexican, or some stupid immigrant.

You wonder why Obama won?


Secede? Please. I would love to see you on your own tit, and not all of ours.

I lost alot of respect for Texas, no offense to my Texas brothers, but your brethren are morons.

(on a side edit: I will still support this site, even if it goes to Texas rules) You still got me, but I will still call you out on your behavior, just as I am ripped for being a NE liberal.

(edit: Kinda fear knocking Texas, cuz the big boss hails from there)

[yubba]

It works like this, they hire people which in turn pay taxes, and then they buy stuff which in turn they are taxed, and then that spurres other companies to grow like Mc Donalds which will hire people which in turn will pay taxes so the school teacher gets paid in which he or she will buy goods and services which will be taxed,, for the life of me I can't understand why liberals can't figure this out,, look at all the taxes you get when the people are working, it's simple math even yubba can understand this kind of logic, man it ain't rocket science.... or is it,, liberals don't want us little people to do well,, make us more dependant like, sheep ?????? And don't take the liberal cop out that companies don't pay fare wages, some one will work to feed themselves and their family. I'll work for 5 or 7 bucks an hour and I better not get taxed thats how this government can help....It's goin on a month now since the election where's all the great new jobs??????? jobs report tomorrow..

Sounds like the are trying to follow Irelands lead.
The Texas tiger

It works like this, they hire people which in turn pay taxes, and then they buy stuff which in turn they are taxed, and then that spurres other companies to grow like Mc Donalds which will hire people which in turn will pay taxes so the school teacher gets paid in which he or she will buy goods and services which will be taxed,, for the life of me I can't understand why liberals can't figure this out,, look at all the taxes you get when the people are working, it's simple math even yubba can understand this kind of logic, man it ain't rocket science....

Wow, you don't know how it works and don't understand it, no surprises there.

[Catfish]

Then it's only a question of time that all Texans will be millionaires

I think the whole money system is wrong. It has worked for 200 years, as long as single nations were able to grow on others' backs (e.g. see british empire), but with the globalisation this all comes to naught. We will manage to live on for a few years on the middle east for oil and Africa for rare elements, but as soon as they stop killing each other there and unite, it will all go for real sustainable resources.

It was always about growth and expanding, with real globalization (not what G8 does, this is securing most worldwide resources for a few) economical growth can not go on forever.

[Sailor Steve]

Originally Posted by Catfish

I think the whole money system is wrong.

What do you propose in its place?

[yubba]

Originally Posted by Tribesman

Sounds like the are trying to follow Irelands lead.
The Texas tiger


Wow, you don't know how it works and don't understand it, no surprises there.

So tell me how do you create wealth,????? Lets see,, me I dumpster dive I call it urban prospecting, I take stuff that's thrown away and turn it into cash, I found a lawn mower and with little time and effort fixed it and used it to mow lawns, too make money if I had more lawns to mow I'd hire someone, that's how you create jobs. I also took seeds from a papia and put them in the grown and now I got 30 trees and I will sell the fruit to make money. Side note collecting foodstamps does not spurr economic growth.

[the_tyrant]

I have to say that these tax breaks are a good move for the high tech industry in Texas.

Texas is home to some of the world's biggest fabs (semi conductor factories). In fact, I have read multiple interviews of how silicon valley and California in general is no longer "business friendly", and how they are all moving to places like Texas.

So tell me how do you create wealth,?????

Well there is two relevant ways to this theme, either get in quick and scam the breaks then jumps ship with all the cash before the bubble bursts, or wait keeping it steady until the crash comes then sweep up all the suddenly cheap assets in the fire sale.

Lets see,, me I dumpster dive I call it urban prospecting

Is there any tax breaks you get for that?
If not then your theft of other peoples property is irrelevant to the topic.

I also took seeds from a papia and put them in the grown and now I got 30 trees and I will sell the fruit to make money.

Well done, if you don't get hit with weather or disease you might make a $100 in a couple of years time.

[nikimcbee]

Originally Posted by Vendor

^
The Samsung fabrication plant, seen in the background, while a neighborhood boy swings on the playground of the Pioneer Crossing Elementary School. Samsung has been awarded more than $231 million in tax breaks from the state of Texas.

I wonder how much revenue Samsung generates for Austin. If I recall, Samsung is growing (in TX), creating high wage careers. Plus it creates all of the secondary jobs to support Samsung in the area.

[nikimcbee]

Originally Posted by the_tyrant

I have to say that these tax breaks are a good move for the high tech industry in Texas.

Texas is home to some of the world's biggest fabs (semi conductor factories). In fact, I have read multiple interviews of how silicon valley and California in general is no longer "business friendly", and how they are all moving to places like Texas.

Then there is Oregon. Oregon has also given the semiconductor industry some big taxbreaks to stay here. Oregon makes bank with the high taxes on income. The state of ore-gone would go tits up if the semiconductor industry left the state.

[GoldenRivet]

Originally Posted by soopaman2

How is that gonna do, when they leave the union, and have to support all their own social programs, and defense?

I see you come from New Jersey.

I've been fortunate enough to travel from one end of this nation to the other, so i've been most places.

I'll say this as nicely as possible... New Jersey is the very bottom of the barrel as near as I'm concerned. I happen to be helping with Sandy damage right now, and Irene last year and to be perfectly honest there are a lot of places up here that would vanish into being ghost towns if it werent for tapping into uncle sam's coin purse. Now there are places like that everywhere no doubt about it... but there are some areas up here in the northeast that take the cake.

why are you so concerned about what Texas is doing?

If the leadership in place in Texas wants to make it a good place to bring business and the hundreds of thousands of jobs that come with it, then by all means i think they should make it a profitable place to do business and to live and work.

I have to honestly say the mentality is completely different in a lot of the areas i've visited but the Northeast tends to bring out the worst in people.

it holds the honor of being the ONLY place i have ever been pushed out of the way while grocery shopping because someone needed an item off the shelf in front of me

It holds the honor of being the ONLY place i have ever held the door for a woman and had 3 guys breeze right in ahead of her as if i were holding it for them.

It holds the honor of being the ONLY place i have ever had people tell me to be rude, and drop my southern manners if i want to fit in.

Well... Im sorry, but the Northeast and particularly New Jersey can have it.

I'll take my sweet home Texas - even with all it's faults large and small - any damn day of the week over this turd that is the NE.

EDIT: i do have one nice thing to say about New Jersey... The Graffiti is really nice this time of year.

[mookiemookie]

One in four Texans is has no health insurance. Texas ranks last in percentage of adults with a high school diploma. We have the fourth highest teen pregnancy rate in the nation. Every year since 1980, Texas has had a higher poverty rate than the U.S. as a whole. Texas ranked sixth in the nation in income inequality in a 2005-2009 Census Bureau study. The average income in Texas consistently ranks below the national average.

Corporate welfare comes with consequences.