Wednesday, July 30, 2008

Masking the failed attempt at Bombardier with good intentions

It is OK for our Missouri legislature to go down new paths to fix the sinkhole of economic floundering and suburban sprawl, but the attempt at luring Bombardier to Kansas City can be a lesson well-learned.

The idea of giving tax credits to wealthy business men so that they can start a colossal factory, leading to thousands of jobs doesn’t sound so bad in theory. However, history has shown that although tax credits do and will help solve some state issues, in the long run, the health of Missouri and especially large cities like St. Louis and Kansas City will depend on the lowering of income and earnings taxes that are cutting through small businesses and driving city dwellers elsewhere. Lowering taxes, thus giving businesses the chance to start and compete in the big cities will create more of a balanced job source, and boost the economy.

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