Found this today, found it enlightening. It got me thinking and looking around. Looks to be me like if we rename Social Security to "Elder Care Grant" or "Subsidy for the Elderly" then the House of Representatives might like it, and leave it alone???
Entitlements, Entitlements that is all you hear, I do believe the "Entitlements" used by the wealthy are far larger.
Explore the Data
The New York Times spent 10 months investigating business incentives awarded by hundreds of cities, counties and states. Since there is no nationwide accounting of these incentives, The Times put together a database and found that local governments give up:
- $80.4 billion in incentives each year
- 1,874 No. of programs
Alaska
Alaska spends at least $704 million per year on incentive programs, according to the most recent data available. That is roughly:
- $991 per capita
- 11¢ per dollar of state budget
Top Incentives by type
Alaska's incentive and subsidies include:- $697 millionin Corporate income tax credit, rebate or reduction
- $6.93 millionin Cash grant, loan or loan guarantee
Top Incentives by industry
- $691 millionin Oil, gas, mining
- $6.12 millionin Agriculture
- $3.65 millionin Film
West Virginia
West Virginia spends at least $1.57 billion per year on incentive programs, according to the most recent data available. That is roughly:
- $845 per capita
- 37¢ per dollar of state budget
Top Incentives by type
West Virginia's incentive and subsidies include:- $1.23 billionin Sales tax refund, exemptions or other sales tax discounts
- $80.7 millionin Corporate income tax credit, rebate or reduction
- $52.7 millionin Cash grant, loan or loan guarantee
Top Incentives by industry
- $25.8 millionin Advertising
- $24.4 millionin Agriculture
- $9.5 millionin Manufacturing
Nebraska
Nebraska spends at least $1.39 billion per year on incentive programs, according to the most recent data available. That is roughly:
- $763 per capita
- 39¢ per dollar of state budget
Top Incentives by type
Nebraska's incentive and subsidies include:- $1.28 billionin Sales tax refund, exemptions or other sales tax discounts
- $89.2 millionin Corporate income tax credit, rebate or reduction
- $11.6 millionin Cash grant, loan or loan guarantee
Top Incentives by industry
- $939 millionin Manufacturing
- $235 millionin Agriculture
- $26.5 millionin Alternative energy
Texas
Texas spends at least $19.1 billion per year on incentive programs, according to the most recent data available. That is roughly:
- $759 per capita
- 51¢ per dollar of state budget
Top Incentives by type
Texas's incentive and subsidies include:- $14.9 billionin Sales tax refund, exemptions or other sales tax discounts
- $3.27 billionin Property tax abatement
- $743 millionin Corporate income tax credit, rebate or reduction
Top Incentives by industry
- $11.7 billionin Manufacturing
- $2.79 billionin Agriculture
- $77.3 millionin Health care
Michigan
Michigan spends at least $6.65 billion per year on incentive programs, according to the most recent data available. That is roughly:
- $672 per capita
- 30¢ per dollar of state budget
Top Incentives by type
Michigan's incentive and subsidies include:- $4.83 billionin Sales tax refund, exemptions or other sales tax discounts
- $1.02 billionin Property tax abatement
- $440 millionin Corporate income tax credit, rebate or reduction
Top Incentives by industry
- $1.56 billionin Manufacturing
- $77.1 millionin Film
- $56.5 millionin Alternative energy
Note
Michigan has ended most tax credit programs, but existing credits can be used for years to come. Michigan has also lowered its business tax rate, saving many companies more on their tax bills.Vermont
Vermont spends at least $407 million per year on incentive programs, according to the most recent data available. That is roughly:
- $650 per capita
- 31¢ per dollar of state budget
Top Incentives by type
Vermont's incentive and subsidies include:- $359 millionin Sales tax refund, exemptions or other sales tax discounts
- $40.8 millionin Cash grant, loan or loan guarantee
- $3.15 millionin Corporate income tax credit, rebate or reduction
Top Incentives by industry
- $333 millionin Manufacturing
- $24.8 millionin Agriculture
- $1.8 millionin Alternative energy
Kentucky
Kentucky spends at least $1.41 billion per year on incentive programs, according to the most recent data available. That is roughly:
- $324 per capita
- 15¢ per dollar of state budget
Top Incentives by type
Kentucky's incentive and subsidies include:- $264 millionin Personal income tax credit
- $108 millionin Sales tax refund, exemptions or other sales tax discounts
- $69.2 millionin Corporate income tax credit, rebate or reduction
Top Incentives by industry
- $569 millionin Oil, gas, mining
- $341 millionin Agriculture
- $180 millionin Manufacturing
Alabama
Alabama spends at least $277 million per year on incentive programs, according to the most recent data available. That is roughly:
- $58 per capita
- 4¢ per dollar of state budget
Top Incentives by type
Alabama's incentive and subsidies include:- $129 millionin Cash grant, loan or loan guarantee
- $64.9 millionin Sales tax refund, exemptions or other sales tax discounts
- $49.8 millionin Corporate income tax credit, rebate or reduction
Top Incentives by industry
- $22.5 millionin Technology
- $15 millionin Film
Illinois
Illinois spends at least $1.51 billion per year on incentive programs, according to the most recent data available. That is roughly:
- $117 per capita
- 5¢ per dollar of state budget
Top Incentives by type
Illinois's incentive and subsidies include:- $874 millionin Sales tax refund, exemptions or other sales tax discounts
- $452 millionin Corporate income tax credit, rebate or reduction
- $11.9 millionin Personal income tax credit
Top Incentives by industry
- $433 millionin Agriculture
- $207 millionin Manufacturing
- $109 millionin Retail
Missouri
Missouri spends at least $96.5 million per year on incentive programs, according to the most recent data available. That is roughly:
- $16 per capita
- 1¢ per dollar of state budget
Top Incentives by type
Missouri's incentive and subsidies include:- $93.2 millionin Corporate income tax credit, rebate or reduction
- $3.35 millionin Cash grant, loan or loan guarantee
Top Incentives by industry
- $7.02 millionin Finance
- $4.97 millionin Insurance
- $1.56 millionin Film
Nevada
Nevada spends at least $33.4 million per year on incentive programs, according to the most recent data available. That is roughly:
- $12 per capita
- 1¢ per dollar of state budget
Top Incentives by type
Nevada's incentive and subsidies include:- $16.4 millionin Sales tax refund, exemptions or other sales tax discounts
- $10 millionin Cash grant, loan or loan guarantee
- $5.54 millionin Property tax abatement
Top Incentives by industry
- $10 millionin Technology
Note
Michigan has ended most tax credit programs, but existing credits can be used for years to come. Michigan has also lowered its business tax rate, saving many companies more on their tax bills.Note
The state issues few incentives to businesses but does not charge a business tax.Subsidized Companies:
Walmart Stores $15.6 million, 16 Grants, 2000-2011Lockheed Martin Corp $16.8 million, 13 Grants, 2000-2011
Embraer $33.5 million, 9 Grants, 2000-2012
JP Morgan Chase $13.9 million, 7 Grants, 1997-2011
Gartner $8.81 million, 6 Grants, 1997-2011
Fidelity National Financial $10.2 million, 5 Grants, 2003-2005
Clearwire $10.8 million, 4 Grants, 2010
Agere Systems $19 million, 4 Grants, 1995-1999
T T F AEROSPACE LLC $19.9 million, 4 Grants, 2009
JABIL CIRCUIT, INC. $19.2 million, 4 Grants, 2008
C & K Market, Inc. $16.9 million, 3 Grants, 2000-2011
Boeing $55 million, 3 Grants, 1998-2011
Pratt & Whitney $14.8 million, 3 Grants, 2000
H S TECHNOLOGIES INC $15.5 million, 2 Grants, 2007
Fidelity Investment Services Inc. $8.6 million, 2 Grants, 2006
American Fresh Farms $9.5 million, 1 Grants, 2011
Piper Aircraft, Inc. $20 million, 1 Grant, 2007
Comcast Corporation $10 million, 1 Grant, 1998
Harris Corporation $20 million, 1 Grant, 2009
$100 Million Club
The Times identified 48 companies that have received more than $100 million in state grants since 2007. Some 5,000 other companies have received more than $1 million in recent years.- $381 million ($1.76 billion since 2007) from 208 grants in 16 states
- ($1.68 billion since 2007) from 35 grants in 3 states ($1.57 billion since 2007) from 119 grants in 8 states
- ($1.39 billion since 2007) from 14 grants in 3 states
- $381 million ($344 million since 2007) from 132 grants in 21 states. $338 million ($327 million since 2007) from 81 grants in 11 states
- $348 million ($304 million since 2007) from 22 grants in 9 states ($300 million since 2007) from 2 grants in 2 states.
- $261 million ($261 million since 2007) from 1 grant in 1 state.
- $312 million ($232 million since 2007) from 20 grants in 4 states
- $226 million ($224 million since 2007) from 18 grants in 7 states.
- ($217 million since 2007) from 187 grants in 7 states ($214 million since 2007) from 1 grant in 1 state
- $406 million ($201 million since 2007) from 85 grants in 14 states
- $199 million ($196 million since 2007) from 70 grants in 17 states
- $191 million ($184 million since 2007) from 28 grants in 7 states
- $181 million ($181 million since 2007) from 14 grants in 3 states
- $175 million ($175 million since 2007) from 11 grants in 1 state
- $171 million ($171 million since 2007) from 3 grants in 1 state
- $169 million ($169 million since 2007) from 20 grants in 2 states
- $169 million ($169 million since 2007) from 17 grants in 1 state
- $166 million ($166 million since 2007) from 21 grants in 5 states
- $167 million ($166 million since 2007) from 17 grants in 7 states
- $296 million ($159 million since 2007) from 4 grants in 1 state
- $158 million ($158 million since 2007) from 3 grants in 2 states
- $162 million ($158 million since 2007) from 63 grants in 17 states
- $163 million ($150 million since 2007) from 26 grants in 10 states
- $150 million ($150 million since 2007) from 1 grant in 1 state
- $143 million ($142 million since 2007) from 12 grants in 1 state
- $139 million ($139 million since 2007) from 4 grants in 1 state
- $139 million ($139 million since 2007) from 11 grants in 2 states
- $156 million ($135 million since 2007) from 33 grants in 4 states
- $138 million ($130 million since 2007) from 8 grants in 1 state
- $153 million ($128 million since 2007) from 31 grants in 10 states
- $131 million ($128 million since 2007) from 9 grants in 1 state
- $128 million ($127 million since 2007) from 7 grants in 2 states
- $126 million ($126 million since 2007) from 2 grants in 1 state
- $126 million ($125 million since 2007) from 4 grants in 3 states
- $131 million ($121 million since 2007) from 29 grants in 9 states
- $119 million ($119 million since 2007) from 3 grants in 3 states
- $167 million ($117 million since 2007) from 159 grants in 21 states
- $115 million ($115 million since 2007) from 3 grants in 1 state
- $113 million ($113 million since 2007) from 2 grants in 1 state
- $105 million ($105 million since 2007) from 32 grants in 1 state
- $103 million ($103 million since 2007) from 10 grants in 5 states
- $107 million ($102 million since 2007) from 10 grants in 6 states
- $101 million ($101 million since 2007) from 24 grants in 8 states
- $100 million ($100 million since 2007) from 10 grants in 2 states
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