I don't approve! Huge corporations are saving $10 billion on Texas taxes, and you're paying for it As millions of Texans struggle with the economic devastation of COVID-19, the biggest corporate tax giveaway in Texas has helped businesses cut more than $10 billion from their property taxes — and there are no limits on the program’s exponential growth. The gusher of tax incentives is flowing to firms ranging from petrochemical plants on the Gulf Coast to sprawling wind farms in the Panhandle. Companies are saving billions by promising to bring their business to Texas — even if evidence suggests some never would have gone anywhere else. Meanwhile, nothing has changed during the pandemic for Texas homeowners who must pay their property tax bills on time or face stiff penalties. Here’s how it works: An eligible company that promises to spend, say, $200 million on a manufacturing plant can apply for a Chapter 313 incentive and lower the appraised value of its property on a school district’s tax rolls, erasing millions of dollars in property taxes over the course of a decade. Burden: A Chronicle Investigation The series: Texas' property tax system benefits the well-connected while everyday Texans are losing jobs and homes during the pandemic. Chapter 313 does create jobs — but at a steep price. By even a conservative measure, Texas is paying $211,600 in tax incentives for each job created under the program. Using a different metric cited in the past by state officials, the cost per job tops $1.1 million. At least 30 companies failed to fulfill their job-creation promises since 2019 but faced no repercussions. Their tax breaks stayed intact, and they paid no fines. As long as companies phrase their applications the right way, records show, they are nearly guaranteed to get the subsidies. Less than 2.5 percent of all Chapter 313 applications have been denied — and nearly a dozen of those reapplied with new phrasing and got approved https://www.houstonchronicle.com/ne...t-1-texas-tax-corporations-covid-16164744.php
There is a reason why Texas ranks poor in things like healthcare access and public k-12 education outside of some wealthy suburbs.
I understand that the majority of the D&D are lazy bums and try to make TikTok videos to get some money but that money comes from corporate sponsorships No Corporations = No Jobs We can only hire some many random bums to mow our lawns bro @pgabriel
There will still be corporations and refineries regardless. It would cost the state less to just raise the working wage for the people in Texas. Texas is paying $211,600 in tax incentives for each job created under the program. Using a different metric cited in the past by state officials, the cost per job tops $1.1
I figured out that he's trolling. The worst thing for him as he's so dedicated to this shtick would be people ignoring him. Him yelling into the ether on a forum he spends so much time performing his Comedy bit probably would harm his mental health.
More pressure to increase taxes on middle-class homeowners to make up the 10B+ in property tax deficits or to cut programs. Want to see the future of this - look to our friend in La which has very friendly big business property tax exemptions for decades.
Same can be said about a wealth tax. If a certain percentage of your wealth is going to be taxed annually, you don't want to sit on your wealth and want to continue investing.
Wha? Such genius observations like "no corporations = no jobs" made it seem like he really knows his stuff.
