Ain't irony ironic? Both Paul Revere and Samuel Adams were members of the Sons of Liberty and
Boston Tea Party culprits who took part in an historic raid on British merchant ships in Boston harbor. You remember, they dressed up as Indian's and dumped the cargo (mostly imported tea from the far East) into the harbor. It was one of the most symbolic protests of the ever growing taxes imposed by the throne of England onto the American colonies. This led to the Intolerable Acts.
Today both Massachusetts companies,
Revere Copper of New Bedford and
Sam Adams Beer of Boston, named after these two famed founders of the United states, are fleeing the original
Bad Boy of British colonies; Massachusetts. Imagine that? The epicenter for tax revolt is now the designed hub of taxation and government imposition. Making it in Massachusetts? "Not so", says these two. How about Boston's third biggest employer
Fidelity? They're opening call centers in Florida, hiring 1,200 and relocating 1,500 more Massachusetts jobs to Westlake, Texas. Fidelity has also informed Beacon Hill that more than 1,500 other jobs will be relocated to other New England states.
Listen to the whackjobs on the left and you'll lose more too. "Corporate Welfare", which in rare cases is accurate, is a talking point of liberal Democrats and others but doesn't often include the pros of offering incentives to corporations who decide to operate in such places. Want a good laugh? Go to
BlueMassgroup, a Massachusetts socialist site which demonstrates no capacity to understand the need and value of having corporate giants choose to HQ here. The following is a press release from the Deval Patrick administration back in February of 2007.
"Our budget also proposes to close a series of tax "loopholes" for Massachusetts corporations. These are real loopholes discovered by
extreme tax planners that exploit the tax code to extract benefits the legislature never intended to confer. One loophole permits multi-state corporations to funnel in-state earnings to out-of-state subsidiaries to avoid Massachusetts taxes. Another allows businesses to charge themselves rent and then lower their tax obligation by deducting those rental costs on their tax returns. Yet another loophole allows businesses to identify their corporate structure differently on their federal, Massachusetts and other state tax returns, selecting the definitions that produce the lowest tax for each return. The combined effect of these loopholes is an uneven playing field for business and hundreds of millions of dollars of lost revenue that could be used to improve our business climate. Closing these loopholes will not hurt our competitiveness or place an onerous tax burden on business. Many of the states competing with Massachusetts for businesses have taken similar steps to close corporate tax loopholes. Some businesses will object to these proposed "loophole" closings. But these proposals are not "anti-business." None of the reforms target benefits that the legislature intended. On the contrary, these reforms are a first step toward achieving equity and fairness in a tax system known to be cumbersome and unfair."- Governor Deval Patrick February 28, 2007
Well Governor, the last quarter is in for ex-Gov Mitt Romney and Massachusetts was up about $600M, not negative $1.3B as you said back in February. It looks like your claim to deficit is more of a prediction than predicament and you are becoming the cause sir. While we can agree that some of the companies are leaving for other reasons and for reasons that developed before you took the reins, it is clear that others looking to relocate will not exactly be lining up at your door given the climate you have planned. They may be using loopholess but you'll have to jump through hoops to get them to come here and for the departed to ever come back under your conditions.