We should analyze this question from a Public Choice perspective. Which alternative does more good for politicians — a regime of low taxes which creates a lot of investment and growth, but nothing that officials can directly claim credit for, or a regime of high taxes with big governmental incentive packages to lure in firms? Under the former, economic development just becomes an accepted fact of life, but under the latter, successes with incentive packages are occasions for all kinds of grandstanding.
Anyone care to speculate as to why NC pols prefer the latter?
