Mitt Romney no stranger to tax breaks, subsidies

[cal04]

Bain Capital profited from a steel company that got them, and he used them to attract business when he governed Massachusetts
http://www.latimes.com/news/nationworld/nation/la-na-bain-subsidies-20120113,0,4573818,full.story

As Mitt Romney defends his record running a private equity firm, he frequently points to a fast-growing Indiana steel company, financed in part by Bain Capital, that now employs 6,000 workers.

What Romney doesn't mention is that Steel Dynamics also received generous tax breaks and other subsidies provided by the state of Indiana and the residents of DeKalb County, where the company's first mill was built.

The story of Bain and Steel Dynamics illustrates how Romney, during his business career, made avid use of public-private partnerships, something that many conservatives consider to be "corporate welfare." It is a commitment that carried over into his term as governor of Massachusetts, when he offered similar incentives to lure businesses to his state.

(snip)
"This is corporate welfare," said Tad DeHaven, a budget analyst with the Washington-based Cato Institute, which encourages free-market economic policies. DeHaven, who is familiar with corporate tax subsidies in Indiana and other states, called the incentives Steel Dynamics received "an example of the government stepping into the marketplace, picking winners and losers, providing profits to business owners and leaving taxpayers stuck with the bill."

[KT2000]

1. Ha! All of this needs to get out

the way these firms operate is disgusting. If he is prez, it will only get worse.