Tag Archives: new economy

1/3 Oklahoma’s Budget Dedicated to Corporate Incentive Payouts

The New Economy-How do we like it so far?

The New Economy-How do we like it so far?

Kaye Beach

Dec. 3, 2012

Welcome to the New Economy!

The New York Times spent 10 months investigating business incentives awarded by hundreds of cities, counties and states. Since there is no nationwide accounting of these incentives, The Times put together a database and found that local governments give up:

  • $80.3 billion in incentives each year
  • 1,874 No. of program

Check out the interactive map that shows spending incentive spending state by state here

Oklahoma

Oklahoma spends at least $2.19 billion per year on incentive programs, according to the most recent data available. That is roughly:

  • $584 per capita
  • 37¢ per dollar of state budget

Read more about Oklahoma

Here is the NYT accompanying news report;

Tax Incentives to Companies Bleeding Towns Dry, With Few Results

Sunday, 02 December 2012 09:51 By Louise Story, The New York Times News Service | Report

In the end, the money that towns across America gave General Motors did not matter.

When the automaker released a list of factories it was closing during bankruptcy three years ago, communities that had considered themselves G.M.’s business partners were among the targets.

For years, mayors and governors anxious about local jobs had agreed to G.M.’s demands for cash rewards, free buildings, worker training and lucrative tax breaks. As late as 2007, the company was telling local officials that these sorts of incentives would “further G.M.’s strong relationship” with them and be a “win/win situation,” according to town council notes from one Michigan community.

Yet at least 50 properties on the 2009 liquidation list were in towns and states that had awarded incentives, adding up to billions in taxpayer dollars, according to data compiled by The New York Times.

Some officials, desperate to keep G.M., offered more. Ohio was proposing a $56 million deal to save its Moraine plant, and Wisconsin, fighting for its Janesville factory, offered $153 million.

But their overtures were to no avail. G.M. walked away and, thanks to a federal bailout, is once again profitable. The towns have not been so fortunate, having spent scarce funds in exchange for thousands of jobs that no longer exist.

One township, Ypsilanti, Mich., is suing over the automaker’s departure. “You can’t just make these promises and throw them around like they’re spare change in the drawer,” said Doug Winters, the township’s attorney.

Yet across the country, companies have been doing just that. And the giveaways are adding up to a gigantic bill for taxpayers.

A Times investigation has examined and tallied thousands of local incentives granted nationwide and has found that states, counties and cities are giving up more than $80 billion each year to companies. The beneficiaries come from virtually every corner of the corporate world, encompassing oil and coal conglomerates, technology and entertainment companies, banks and big-box retail chains.

The cost of the awards is certainly far higher. A full accounting, The Times discovered, is not possible because the incentives are granted by thousands of government agencies and officials, and many do not know the value of all their awards. Nor do they know if the money was worth it because they rarely track how many jobs are created. Even where officials do track incentives, they acknowledge that it is impossible to know whether the jobs would have been created without the aid.

“How can you even talk about rationalizing what you’re doing when you don’t even know what you’re doing?” said Timothy J. Bartik, a senior economist at the W.E. Upjohn Institute for Employment Research in Kalamazoo, Mich.

The Times analyzed more than 150,000 awards and created a searchable database of incentive spending. The survey was supplemented by interviews with more than 100 officials in government and business organizations as well as corporate executives and consultants.

A portrait arises of mayors and governors who are desperate to create jobs, outmatched by multinational corporations and short on tools to fact-check what companies tell them. Many of the officials said they feared that companies would move jobs overseas if they did not get subsidies in the United States.

Over the years, corporations have increasingly exploited that fear, creating a high-stakes bazaar where they pit local officials against one another to get the most lucrative packages. States compete with other states, cities compete with surrounding suburbs, and even small towns have entered the race with the goal of defeating their neighbors.

While some jobs have certainly migrated overseas, many companies receiving incentives were not considering leaving the country, according to interviews and incentive data.

Read more

Tonight Oct 7, 2011 on AxXiom For Liberty Live- “Control Freaks”

Kaye Beach

**Show Notes and links below**

Oct. 7 2011

Tonight on AxXiom For Liberty Live with Kaye Beach and Howard Houchen-6-8pm CST

Listen Online

We have a whole slate of great guests lined up for you tonight!
First we have Luke Lawrenson,  a bright 12th grader at Hugo High School, who might be a little too smart for his own good.  He is going to share with us the essay that got him , a smart 12th grader at Hugo High School, kicked out of his AP English Class.

Then we have Adrian Wylie from Florida.

Adrian Wiley, co host of Liberty Underground, an AM radio show on WTAN Clearwater Florida.
Adrian, also the Chairman of the Libertarian Party of Florida took a stand against waiving his Fourth Amendment rights in the state of Florida in order to get his REAL ID card.
He went to court this week and will tell us what the outcome was tonight!

Pinellas Libertarian won’t get a driver’s license and he won’t stop driving

Next up is Amanda Teegarden, Exec. Director of OK-SAFE, Inc. and Vicky Davis (channelingreality.com)for a roundtable discussion on the technological restructuring of our government and the true implications of these changes.  What you hear from these two excellent researchers will take you off the beaten path by exposing some of the realities of the profound and bewildering changes taking place right now in our society.

Guess what?  It boils down to CONTROL.

Some relevant links;

The Rock the Revolution Tour kicks off on Oct. 15 http://www.rocktherevolutiontour.com/

Fall Concert to Benefit the HUGS Project – sending care packages to those troops deployed overseas.  OCT. 22 – 5 – 10pm at the Edmond Nat’l Guard Armory https://www.facebook.com/update_security_info.php?wizard=1#!/event.php?eid=270517602969309

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Every Human is Being Enrolled Into a Single Global System of Identification and Financial Control

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Activist Randy Kelton “railroaded” in rural Texas county; faces year in jail

www.reddirtreport.comBut as a reporter who has covered government in urban and rural areas of Texas, Louisiana and Oklahoma, I can tell you the corruption in these rural areas is often very real and affecting real people.

Sometimes the dragon wins

by Michael Badnarik

Of the 300-plus millon people in the United States, those in the rapidly growing Liberty movement still make up a fairly small percentage. A small percentage of those people are metaphorical White Knights who bravely joust with the dragon of tyranny. Not surprisingly, if you piss off the dragon too much, he will breathe fire in your direction and toast you to a crisp.

Such is the unfortunate circumstance for my good friend, Randy Kelton, one of the hosts from Rule of Law Radio.

Read more

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OK-SAFE Reports: Notes on First Joint Committee Meeting on Health Care Reform in Oklahoma

Electronic Health Records And the End of Anonymity

The Electronic Police State 2010 (a report)

An electronic police state is characterized by this:
State use of electronic technologies to record, organize, search and
distribute forensic evidence against its citizens.

The Great Swindle

Kaye Beach

Dec 26, 2010

Many times I have professed to hate economics.  Part of the reason for that is that I don’t understand how it works and I am beginning to suspect that the trouble is not so much that I don’t have a head for figures as much as the whole blasted system defies reason!

Although I have not made peace with it, the fact of the matter is that it is really impossible to separate economics from any other issue that matters and  all of the problems that concern me most deal with the present full-steam-ahead re-ordering of our society in ways that I fear will not respect the fundamental rights of all.

This article by Vicky Davis and the research she lays out combines history, political theory and economics in a way that is digestible and illuminating for someone like me who usually won’t go more than a paragraph into material heavily slanted toward the economic.  As we have been told a million times before, “Money is the root of all evil”.   As noted by my friends and an important qualifier- It is the LOVE of money that is the root of all evil.  Also, here is another couple of suggestions for the economically disinclined like myself that might be helpful.

**Doc Ellis recommends:

Economics in One Lesson by Hazlitt at
http://www.fee.org/pdf/books/Economics_in_one_lesson.pdf

can help you a lot. This quote summarises the 190+ page book.

“From this aspect, therefore, the whole of economics can be reduced to a single lesson, and that lesson can be reduced to a single sentence:

The art of economics consists in looking not merely at the immediate but at the longer effect of any act of policy; it consists in tracing the consequences of that policy not merely for one group but for all groups.”

And Ryan suggests The Daily Bell and the Mises Institute.  All valuable resources for economic education.**

This article brings that fact into focus.

(This is one of many great articles by Vicky Davis.  Her ceaseless and valuable research digs into the hows and whys of the changes this generation of Americans is witnessing. You can access more of her work at Channeling Reality)

The Great Swindle

The 1960’s is known as the era of the Great Society.  The Great Society was a massive program of social engineering and redistribution of wealth proudly brought to us by the Democrats. The 1990’s will become known as the era of the Great Swindle. I’d like to say that Great Swindle was brought to us by a single party because then we could throw out the scoundrels, dismantle the programs and carry on life in the American tradition.  But I can’t.  The Great Swindle was a collective effort by both parties and now we are being asked to bail out the financiers and the central planners of the swindle.
The name of the con game for the Great Swindle is ‘globalization’.   As with all con games, greed is what blinds the mark from seeing the con.  The set up for the con was a Hollywood vision of the ‘New Economy in the 21st Century‘.  What a marvelous vision it was:

  • A new economy where people don’t go their jobs – they become entrepreneurs and their jobs come to them – via the Internet.  All one needed to do was to join a supply chain and to sell or provide services to the billions of buyers that would become accessible via the Internet.
  • Because the economy was to be net-centric with people working out of their homes, we didn’t need energy as we did for that dirty, old industrial economy.  We could become self-sufficient in energy production with windmills and solar panels – all so very clean and 21st century.  Remember the Jetson’s?     In this 21st century vision, we could even have a doctor’s visit via the Internet.
  • And there would be no need for money – we could just walk into stores and walk out with what we want because the chips in our arms and on the goods could automatically record the purchases and debit our virtual bank account.   No need to handle that dirty money – it’s all so clean.
  • The new 21st century net-centric economy meant redesigning cities. The idea for cities was to create “communities” – small town environments with neighbor helping neighbor; sharing and caring.  The social engineers figured that life for a net-worker would be a lonely life so they planned communities to have a social aspect to them.
  • The new 21st century net-centric economy also meant redesigning transportation systems to deliver the goods that originate from all over the world – right to the doorstep of the community.  Transportation hubs accommodating all modes of transportation were designed to speed those goods to market.

The basis for the 21st century delusion of the New Economy was that multinational corporations could become emissaries for U.S. foreign policy and that business – money – could be the guiding light for world peace.  It’s laughable but that’s what brought us to this critical juncture.  And this plan was formulated by the allegedly best and brightest minds in America – and now they are asking us to turn over a $700 billion blank check to one of their leaders – Henry Paulson, former chairman of Goldman Sachs.   They need the $700 billion to keep the con going because there is still a sizable middle class in America that has yet to be fleeced.

The $700 Billion Takeover

First of all, we don’t have $700 billion.  It’s just more red ink added to the sea of red ink on the U.S. ledgers so what we should really be looking at is the power that would be given over to the Secretary of the Treasury – no matter who that person might be.   As you’ll see below, the sub-prime mortgage problem was engineered.   People who lend money for a living don’t just all of a sudden get stupid about loaning it.   Do you loan money to your bum brother-in-law who hasn’t held an honest job in his entire life?  No.   And neither do bankers.

A year ago at Georgetown University – the center cell of Communitarianism – which is newspeak for Communism, Treasury Secretary Paulson participated in a conference with the financial movers and shakers regarding U.S. competitiveness in the global economy.  The focus of the conference was to talk about a speech that Secretary Paulson had given to the New York Economic Club months earlier.  Notice how he speaks in glowing terms about the U.S. financial markets – and it’s not as if he didn’t know what was going on with the derivatives, hedge funds and sub prime mortgages.  After all, he was the CEO of Goldman Sachs.

It’s important to look at this speech because this is the real thinking and objectives behind the $700 billion bailout scam.

[Paulson - November 20, 2006] We are experiencing sustained growth and low unemployment. The economy has added more than 6.8 million new jobs since August 2003. Productivity, an indicator of future growth, has grown at an annual rate of 3 percent since the first quarter of 2001. And, very importantly, this productivity is now translating into higher wages, so more Americans are sharing in our economic success. The U.S. economy is the envy of the world, and we must keep it that way.

Capital markets are the lifeblood of our economy. They connect those who need capital with those who invest or lend capital. They play a vital role in helping entrepreneurs implement new ideas and businesses expand operations, creating new jobs. They give our citizens the confidence to invest, earn higher returns on their savings, and reduce the cost of borrowing for student loans, mortgages, and consumer credit.

The Treasury Department plans to host a Conference on Capital Markets and Economic Competitiveness early next year. We will invite participants with a wide range of perspectives, particularly the investor perspective. The Conference will cover the three primary areas I have discussed today – our regulatory structure, our accounting system, and our legal system – all of which impact our capital markets and are critical to the overall economic competitiveness of our nation. Our objective will be to stimulate bipartisan discussion and to lay the groundwork for a long-term strategic examination of these issues.”

Then Paulson discusses the regulatory structure, accounting and legal system.  It’s in this discussion that you can know what Paulson is really proposing in this sham bailout.

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Also recommended by Vicky Davis;

Blueprint for a Coup