by Brian Balfour
Senior Vice President of Research, John Locke Foundation
Gov. Roy Cooper yesterday declared this to be “North Carolina Manufacturing Week.”
At the same time, he also demonstrated yet again his blatant hypocrisy on “corporate tax breaks.” Over the years, Cooper has relentlessly railed against “corporate tax giveaways,” an evil upon the alter of which the state “sacrifices education.”
On the same day he declared this to be Manufacturing Week, Cooper also applauded the announcement of two more corporate tax giveaways he publicly pretends to be opposed to.
One announcement involves a tax giveaway potentially worth $2 million to Corning for a project in Catawba County, and the other a tax break that could total $1.4 million to a software company in New Hanover County.
Even during the pandemic-stricken year of 2020, Corning raked in $11.5 billion in net sales globally and finished the year with $2.7 billion in cash on hand.
Imagine being a long-time, native small or mid-sized manufacturer having to pay your full tax bill every year reading about this political favoritism.
When Cooper says he’s against “corporate tax cuts,” he’s lying. What he really means is that he’s against cutting taxes across the board for businesses. He is more than happy to grant tax cuts – and taxpayer handouts – to select corporations in a game of blatant cronyism.