[Matrix2791]

Originally Posted by hartford_renter

Wow Malloy has already given over half a billion dollars for companies to stay in CT after RAISING TAXES! He also gave United Technologies 200 millions. Disgusting!

This is what happens when politicians control everything, complete corruption!

Pretty sad when you have to pay companys to stay. Malloy has no choice but to pay these guys off to stay. The economic loss would be bad, as well as the political fallout.

[BobNJ1960]

Originally Posted by Mr_250

Good news for Connecticut. They were out the door for sure.

The package Malloy gave to them is worth $220 million with incentives. Makes MA package to GE look likes peanuts.

This will good to keep 8000 people employeed.

$220 mill..not bad.

[MrGompers]

Originally Posted by Matrix2791

Pretty sad when you have to pay companys to stay. Malloy has no choice but to pay these guys off to stay. The economic loss would be bad, as well as the political fallout.

The problem with this is if CT doesn't pay another state will. The practice should be outlawed altogether, but that will never happen.

[Matrix2791]

Originally Posted by MrGompers

The problem with this is if CT doesn't pay another state will. The practice should be outlawed altogether, but that will never happen.

Couldn't agree more, but being that we have a lousy business climate, many companys will take advantage of government handouts. Malloy and his ilk caused this.

[BobNJ1960]

Originally Posted by MrGompers

The problem with this is if CT doesn't pay another state will. The practice should be outlawed altogether, but that will never happen.

The practice is perfectly fair; jobs are an asset, and corps should be paid for their assets. If any state chooses not to partake, so be it.

[Mr_250]

Originally Posted by Matrix2791

Couldn't agree more, but being that we have a lousy business climate, many companys will take advantage of government handouts. Malloy and his ilk caused this.

Maybe, just maybe this is a really good deal.

Part of the deal is that Sikorsky has to buy parts from Connecticut businesses. Maybe more manufacturers will see this and it will draw them to the area. Might be the economic boom Connecticut needs. Get back to our roots of manufacturing.

[hartford_renter]

Originally Posted by Matrix2791

Pretty sad when you have to pay companys to stay. Malloy has no choice but to pay these guys off to stay. The economic loss would be bad, as well as the political fallout.

No Malloy had a choice to raise taxes and look what it got him! Companies are leaving, exactly what we said would happen!

Make the state an enticing place and companies will stay raise taxes and they are going to kick the state to the curb.

This is exactly the same reason companies are moving over seas, because we have the highest corporate tax in the world at 35%.

This isn't rocket science

[MrGompers]

Originally Posted by hartford_renter

No Malloy had a choice to raise taxes and look what it got him! Companies are leaving, exactly what we said would happen!

Make the state an enticing place and companies will stay raise taxes and they are going to kick the state to the curb.

This is exactly the same reason companies are moving over seas, because we have the highest corporate tax in the world at 35%.

This isn't rocket science

It gets tiring correcting all the misinformation, but The United States has one of the lowest corporate income tax rates in the world.

First you have to understand that there is a big difference between statutory rates and effective rates.

For the years 2006 -2012 the GAO has reported that the effective tax rate (EFR) for corporations was 22%

U.S. GAO - Corporate Income Tax: Most Large Profitable U.S. Corporations Paid Tax but Effective Tax Rates Differed Significantly from the Statutory Rate

Another report has said the effective tax rate for corporations was 27%

Fact Sheet: Corporate Tax Rates – Americans for Tax Fairness

Also notable in that report

General Electric, Boeing, Verizon and 23 other profitable Fortune 500 firms paid no federal income taxes from 2008 to 2012.

Don't let facts get in your way though.

[atlaw]

Originally Posted by Mr_250

Maybe, just maybe this is a really good deal.

Part of the deal is that Sikorsky has to buy parts from Connecticut businesses. Maybe more manufacturers will see this and it will draw them to the area. Might be the economic boom Connecticut needs. Get back to our roots of manufacturing.

I seriously doubt this, I don't think anyone will be drawn to the area. Why on earth would they be? They make a few helicopters overall but really have not much clout

[BobNJ1960]

Originally Posted by MrGompers

It gets tiring correcting all the misinformation, but The United States has one of the lowest corporate income tax rates in the world.

.

Ct though, like NJ, collects amongst the highest state rates of corporate tax. This creates an uncompetitive situation, which creates the need for deals like todays in order to retain corps.