Quote:
Originally Posted by joemustardo
If you actually understand why GE is threatening to leave CT, it's because of taxes. They are using this as a tacit, similar to Lebron opting out of his contract to get more money. At some point, GE's desire for lower taxes won't be able to be compensated by CT. What Nutter and/or Wolf needs to do is contact GE and offer tax breaks. It's all about GE getting exactly what they want, lower taxes. But both democrats are to brain dead to realize this. They are too caught up in overtaxing the gas industry, which is basically running PA's economy. Pittsburgh and Philadelphia do have economic impact on PA, but only to an extent. GE would allow the economy to expand, and make Philly on par with other cities like Atlanta, Dallas, and San Fran. The problem is the leadership in Philly and PA don't understand that PA's economy is in decline due to destroying the natural gas industry and not being able to attract large Fortune 500 companies. PROMISE TAX BREAKS BETTE THAN CT AND I GUARANTEE GE WOULD CONSIDER MOVING TO PHILLY. IT'S ALL ABOUT GIVING GE WHAT IT WANTS AND EVEN MORE.
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Your comments are really uninformed. Companies rarely move because of tax breaks, there are just so many more important factors that decide where they locate. What they do tend to do is make empty threats about moving if they don't get their way when it comes to taxes. If companies cared so much about small differences in taxes (which is what we're talking about at the end of the day) then NYC wouldn't have 53 Fortune 500 companies. Philly, by the way, is sixth in the country with 15 Fortune 500 companies.
Also, Nutter has been a very business-friendly mayor so I'm not sure what evidence your basing your assertions about him on? As for Wolf, it's too early to tell, but he was a business person himself.
And overtaxing the gas industry? We're the only state without an extraction tax. How is that overtaxing? And gas industry running the PA economy? Please. Philly and Pittsburgh make up 56% of the state GDP, and if you throw in the other metro areas you get 88%. So rural areas in general, and gas extraction in particular, are small parts of the state economy. That's not to say it's not an important industry, it's just not "basically running PA's economy." It also can't move out of the state, so that's an important point too. Please give us one real way that we have worked to "destroy" the natural gas industry?