Big surprise. With his $80 million in taxpayer dollars, Bruton Smith joins billionaires Robert Johnson, Brian France, and David Murdock in completely fleecing dopey local government officials.
Smith was never going to move Lowe’s Motor Speedway. He could not. You can’t find 1,000-acres close to a major airport just anywhere, you know.
The business incentive racket is now officially out of control. In an eye-blink we’ve gone from offering incentives to get businesses to come here to offering incentives to get businesses to stay. The only thing left is paying corporations for the privilege of working for them.
The hard working taxpayers of Cabarrus County should be outraged. Between them Murdock and Smith have over $250 million worth of public-sector goodies headed their way. Taxes will almost certainly have to be raised to help pay for it all.
Oh, and none of this “investment” crap either. You invest your own money, you spend someone else’s. As such, local government spending on non-essentials like business handouts guarantees that vital public services like roads for everyone and public safety for everyone are an afterthought.
Bonus Observation: Neat how the gub’nor is suddenly all fuzzy about the $20 million Bruton says Raleigh promised him. Shades of the $10 million “handshake” for Johnson & Wales University, no? It may take a couple years, but Smith will get his money.
Update: Here’s how the world’s most informative Web site puts it: Billionaire: “I’m going to move my speedway from your town.” Town:”Here’s $80 million in incentives to stay and we’ll name a street after you.” Billionaire:”Okay, I guess I’ll stay”
