1739crony /220 words
Dec. 4. 2016
Crony Capitalism
A letter by
Harley L. Sachs
Donald Trump’s “saving” about 800 jobs at the Indianapolis Carrier plant from being exported to Mexico was a publicity stunt. He campaigned on a plan to stop exporting American jobs abroad, but in fact there were 2000 jobs in play at Carrier, not the 800. What about the rest? Bye-bye. Then, to sweeten the deal he got Carrier a seven million dollar tax break. The money “saved” for Carrier in fact will not go into the Indiana general fund.
Vice president elect Spense should be ashamed. As governor of Indiana, his deal with Carrier will deprive the state of needed tax income. What will it come out of? Schools? Infrastructure?
This is a typical Trump tactic: pay a bill with other people’s money and then take the credit. He did the same with casinos: borrowing money, then going bankrupt, selling at the loss of his creditors and making himself richer in the process. You can’t run a government that way. In one Southern state a Republican governor cut taxes and left office with the state bankrupt.
In the Carrier case the creditors who get stiffed will be Indiana taxpayers. Try floating a seven million bond issue for schools or roads to replace the Carrier giveaway. Lots of luck.
