In the last 10 years this competition for corporate facilities has become feverish. Local governments have the most to lose in this contest because unlike other jurisdictions with broader sources of revenue they are the most dependent on property taxes. Economic Report of the President One of the most cynical forms of business blackmail in recent years has been the manipulation of public loyalty to sports teams for the personal gain of team owners. Money that should be spent for education, health care, public safety or other community needs instead goes into the pocket of multi-millionaire sports magnates. Tax policies at the local, state and federal level should not burden working families to pay for tax breaks to corporations and the wealthy.
Corporations have a responsibility to their local communities as well as to their shareholders.
Jurisdictions should only grant tax breaks if companies agree to meet basic, enforceable guidelines. These can include labor standards, job creation goals and a commitment to maintain workforce levels for a specified length of time. Companies that violate these guidelines should be obligated to pay back their tax breaks with penalties and interest. Local officials should be as hard-nosed as the businesspeople knocking at their doors. Communities cannot allow robber barons to take the tax money and run.