Please help me understand this.
We keep taxes too high in Kentucky so we can pay a group of unaccountable bureaucrats to use some of that money to bribe other companies to come here from out of state. And The Lexington Herald Leader calls this job creation?
Looks to me like misallocation of resources.
If Frankfort can grasp that lower taxes attract business from higher tax states, why can’t we at least try lowering taxes for everyone and walking away from the “incentives” shell game? Doesn’t it make sense that spreading the benefits more widely would work better than letting the government select a few winners by overtaxing everyone else?
On the other hand, given the lack of demonstrated efficacy shown by this program, maybe they should pursue federal credits as a faith-based initiative.
Check out HB 229 yourself by clicking here.