In discussing the “incentives for Apple” bill, Sen. David Hoyle (D-Gaston) is quoted in the Charlotte Observer giving the legislature’s habitual crocodile-tears approach to the issue (the Gee, we really hate this stuff but we gotta do it; we just gotta! approach):
Apple would get tax breaks that are worth $3 million a year and could grow to $12.5 million annually for a project expected to generate 50 jobs. An additional 250 contractors could get jobs tied to the center.
Apple would have to invest $1 billion over nine years. …
Some lawmakers have raised questions about the state’s continued practice of handing out millions of dollars to lure companies. Sen. David Hoyle, a Gaston County Democrat, said North Carolina is vying with other states offering their own financial sweeteners in an expensive competition for jobs.
“It’s play or lose,” Hoyle said.
No, actually it’s play and lose. If our legislators are that convinced that lower taxes would be good for business and the economy ? and indeed they would be ? then they should stop playing favorites with tax policy and reduce taxes on everyone.
