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Study: Tax Breaks Don't Lead to New Jobs

Tuesday, December 10, 2013

Many corporations are given tax breaks by the state to spur hiring, but a new study reveals those breaks basically redistribute wealth upward...without actually increasing jobs.

That's according to investigative reporter David Cay Johnston. He wrote in "State Tax Notes" that the study examining how many jobs these tax credits created was suppressed by the Cuomo administration.

"This the latest in a number of studies but it's the most comprehensive -- and it show that over the last nine years in New York the state has given about $1,400 in tax breaks for every household in the state," he said. "Instead of creating jobs, we have a 175,000 fewer jobs, that is we spent $57,000 per job eliminated."

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Comments [1]

Steve from NYC

Poster child for this kind of thing is the Atlantic Yards development in Brooklyn, run by the Empire State Development Corporation. So far, 105 jobs for close to a billion in various subsidies. Hmmm...

Dec. 11 2013 06:43 PM

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