Thursday, April 12, 2012

Want To Know Why Most People Don't Know They Are Getting Tax Breaks?

Because the states are barely keeping track of the outcome, that's why!

Most states are doing a poor job tracking whether their tax breaks for businesses are actually spurring job growth, including some that have poured hundreds of millions of dollars into corporate incentive programs even while grappling with record deficits, according to a new report.

The report released Thursday by the Pew Center on the States found that no state regularly takes a hard look at the effectiveness of all of its tax breaks. Twenty-five states and Washington, D.C., do little if any evaluation, including Illinois, which is among the states facing major budget struggles.

Only 13 were found to be doing enough, the study found.

 13 out of 50 states is 26% of the country, people. 26% of the nation is "doing enough" to evaluate whether tax breaks are resulting in job growth. That is a problem, and the media should be talking about this a bit more (I only caught it because there was a 10-second mention on TV this morning).

Still people should remember this the next time anyone says that they're positive tax breaks "helps job creators." Unless they're talking about Oregon, Washington, Arizona or Iowa they're probably full of it. 

Read more here:

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