I thought tax-credits worked towards reducing a companies overall tax bill. Kind of like our federal income tax, you can only deduct as much as you've paid.  So, this company should only be getting tax credits up to the amount of the taxes he's paid. If he's not paying a tax, then the tax credit shouldn't be available. What am I missing here, besides a clearly broken system?
How are we loaning money to outside business folks (who state they are only here because the tax credits were too good to pass up), w/a $4 billion deficit?

We need to change this law that keeps us from knowing how much us paid to each company with tax credits. This is ridiculous. We're not talking about thousands of dollars, not even millions, this is billions of dollars our state is paying companies to setup business in the state.  If we can afford to cover over half of the costs, why doesn't the state build our own projects, hire Alaskans, and recycle the tax credits back into our states?

Labels: moderation: toxicity