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Taxes

This tag is associated with 6 posts

Corporate Welfare is Receiving Some Necessary Scrutiny

(NYS) Recent analysis [pdf] of NYS subsidies to business in the form of tax credits and other give-aways of public money is gathering attention among tax-policy specialists and a highly acclaimed journalist from WNY. This analysis continues a decades-long trend showing that only very little or no benefit can be rightfully attributed to corporate welfare. … Continue reading

A Local Pro-Business Group Supports Lower Taxes and Fracking Upstate – No Surprise There

(WNY) A pro-business group, the Buffalo Niagara Partnership, announced its endorsement of a plan conceived by an anti-tax organization called Unshackle Upstate. Lower corporate franchise taxes in upstate NY and elimination of an energy assessment on manufacturers upstate are direct give-aways to business proposed in the plan. By Unshackle Upstate’s own estimates, these direct give-aways … Continue reading

The Niagara Frontier Tax Give-away, Part II: How Does Your Local IDA Compare?

(WNY) NYS recently shined a spotlight [pdf] on the state-sponsored industrial development agencies (IDAs), seeking to deliver a minimum of oversight and transparency as the IDAs dole out tax exemptions and other public goodies to business. There is previous WNY-WJ content about this here, and the table from that content is now updated (see table … Continue reading

Buffalo Area’s “Rentier” Income Outpaces Workers’ Earnings

(WNY) The average real (inflation-adjusted) wage per job in the Buffalo-Niagara Falls, NY area is failing to keep pace with real income from capital gains, interest, and rents – “rentier” income. The first chart to the left shows that as the average real wage (solid black line) is relatively stagnant during the years 2001-11, total … Continue reading

UPDATE – The Niagara Frontier Tax Give-away

(Niagara Frontier) The NYS-sponsored industrial development agencies in the Niagara Frontier region gave away a whopping $397 million in estimated tax exemptions to business from 2008 through 2011. As both local and state governments already face difficult budget decisions, continued erosion of their revenues through tax give-aways will only increase the difficulties in providing government … Continue reading

Why WNY Property Taxes are so High

(Niagara County) A common complaint heard from WNY residents is the high tax rates paid here locally. Residents are quick to blame so-called “unfunded” mandates, and they often claim that government workers are inefficient and overpaid. Overlooked is the role that corporate welfare plays in local government budget problems. The Buffalo News reports that Yahoo … Continue reading