Tuesday, December 4, 2012

Texas' Secret Job Creation Sauce: $19 Billion/Year In Subsidies

Does Texas have a secret job creation sauce? It certainly leads the nation in job creation, and $19 billion per year of state and local subsidies for jobs partly explains why.  Texas alone accounts for 25% of the $80 billion total of state and local subsidies paid each year around the country in battles for jobs. www.nytimes.com/2012/12/02/us/how-local-taxpayers-bankroll-corporations.html & www.nytimes.com/2012/12/03/us/winners-and-losers-in-texas.html?_r=0.

While Texas has bought a lot of jobs with its enormous subsidies, Texas also has the 11th highest poverty rate, 25% of its population without medical insurance, and public schools that are shattering.

One wonders what would happen to the Texas job creation machine, if it went cold turkey on subsidies, and stopped paying incredible sums for jobs.  Don't count on finding out anytime soon!

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