Despite the creation of hundreds of local, state and federal enterprise zones that have bestowed billions of dollars in tax benefits on thousands of qualifying businesses over the last two decades, nobody has been able to demonstrate conclusively that the incentives actually work. Evidence that the federal programs have spurred business development "is virtually nonexistent," the nonpartisan Congressional Research Service said..."It's a form of corporate welfare," said Robert B. Reich, who was Labor secretary when the Clinton administration launched federal empowerment zones a decade ago. "In most of these circumstances, the businesses would have gone in anyway for other economic reasons. It just gives taxpayers' money away to businesses that don't need it." |
Read the rest of the story HERE:
At www.latimes.com
Doug Drenkow is a writer, editor, webmaster, and producer. A fourth-generation Democrat, Doug has produced the political talk shows "Barry Gordon From Left Field," on radio, and "NewsRap with Barry Gordon," on cable TV, featuring top (more...)