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New Jersey Pays $102 Million to Move Electronics Firm Down the Road

MrVicchio said:
There is a sweet spot for taxes, too high, you retard business, too low you lose revenue.

NJ Taxes ARE too high, as evidenced by the economic conditions, however, 50% across the board would be a bad idea. A better idea would be a phased say, 25% cut, 5% lower every 6 months. You get higher revenue as business picks up will not raping the existing budget, once you hit that 25% mark you get a good idea of if you've gone too low and can ease back higher, if it's "just right" or needs more lowering.

50% across the board would break the state.
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I definitely agree with you. A 20%, or 10%, or 5% tax break would be nice, and attract enought differences for the gap. Yet a 50% deduction would be idiotic and would, like you said, break the state
 
Whovian said:
New Jersey Pays $102 Million to Move Electronics Firm Down the Road - FoxNews.com

Excellent move by Christie. He keeps an important corporation within the state, ensuring future tax revenue... he keeps a thousand jobs in the state (more when you count the construction and support jobs the new facilities for Panasonic will create... he shows other corporations he is business friendly and willing to work with them so they don't relocate outside the state...

excellent move.
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Agreed. While you noted it from the original article, and any liberal critic of Cristie can read more at the link, one big part of this credit is the "Urban Transit Hub Tax Credit", where Panasonic is not just relocating, but are relocating to a depressed area, thereby generating local revenues where there essentially are none. They are moving to Newark.

Nationwide, states typically offer $75K to $150K in tax incentives per job to land a major firm. This is what Boeing got in SC, as well as many of the auto plants that continue to be built in Right to Work States. Cristie got a very good deal. I think he was able to leverage the depressed housing market, as Panasonic knew that it had employees whose houses were under water, who now do not have to relocate.

This was a win-win. Cristie has had my vote for President for over a year.
 
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