I was going to create a giant post with a look into the two-faced policies of Alabama Senator Richard Shelby, but now I don’t have too. I website has been setup by a GM retiree which put’s Shelby’s actions in the limelight. Take a look here: http://www.BoycottAlabamaNow.com/
-Alex
You’ve already been providing financial assistance to foreign automakers!
Source: Detroit Free Press
So you’re against the automaker “bailout?” But did you know that taxpayers (i.e. you, if you’re a US citizen) have already provided financial support to foreign automakers, right here in the good ol’ USA?
As Stephen Collins states in his editorial Tax Fairness for U.S. Automakers, the U.S. automakers are asking for financial support on the order of $16,000 spread amongst approximately 240,000 employees (for all three automakers). In comparison, the state of Tennessee has offered Volkswagen tax incentives and other subsidies to the tune of $577 million, which equates to $288,000 for every job created.
Similarly, Toyota is getting its share, equaling $300 million for building a plant in Texas, which works out to $150,000 per employee. And in Alabama, Hyundai, Toyota, Honda, and Mercedes are getting incentives equal to $111,000 per employee.
But there is a difference between the financial support that the domestic automakers are asking for and that received by the foreign automakers: the loans provided to the domestics are going to be paid back, whereas the incentives provided to the foreign companies will never be paid back.
If you ask me, I think the financial support is worth it…
-Alex
Source: Tax Fairness for U.S. Automakers
