A story in Sunday’s Coeur d’Alene Press extolled the virtues of corporate welfare, as if there couldn’t possibly be anything wrong with a program that gives tax breaks to some at the expense of others. In case there is any doubt, there certainly is.
Idaho lawmakers and Gov. Butch Otter approved the corporate welfare scheme in 2014, and of naturally, many companies have applied for and received what’s called the Tax Reinvestment Incentive (TRI). That’s what counts as “success”—numerous applications from businesses for TRI. Here are some constructive criticisms of the TRI—items unmentioned in the Press article:
Idaho and other states have already had disastrous experiences with corporate welfare and state-driven economies. The Coeur d’Alene Press article missed a great opportunity to outline realistic criticisms of the program instead of merely parroting back what the state Department of Commerce would like you to believe about it.
Pictured: Jeff Sayer, Department of Commerce director