I would encourage any companies to exercise “all available” tax incentives within reach to preserve their profit goals. I do not fault companies in this regard.
However, we (the US) can’t afford to extend to corporations any benefits that do not directly serve the nation’s economic interests.
“Tax breaks”, like any other investment, must make sense in the short run and eventually the long run. Accelerated depreciation is silly because it can not be effectively monitored or audited. Deductions on executive stock options are silly because stock “options” are paper money. We can’t compound our inflation problems by valuating (and funding) paper money instruments. And certainly not for private corporations. Really? This is laissez-faire?
We need stronger oversight into offshore tax shelters by establishing partnerships with international entities. Eyes with a vested interest in the American economy would help a great deal ~ as would sanctions when those agencies are themselves complicit.
I’d like to see a tiered tax structure that correlates tax incentives to foreseeable and measurable economic lift ~ not just output. Your product does more the create economic growth, we offer a stronger incentive. Your research & development leads to expanded markets and we’ll respond in kind. And what about a scenario where the tax incentive itself expires after it’s projected goal is met…?
At this moment, in our country’s economic state, we can’t afford to offer a dime of incentives to any entities that don’t play a vital role in either expanding the tax base or creating more economic opportunities across markets.
Just being in business won’t cut it anymore… that’s what your profits are for. You want OUR tax incentives you need to be expanding OUR economy.