More Of Our Tax Money To Corporate Giveaways
Just when you thought the Malloy Supremacy’s “economic development corporate giveaways” could not get any crazier, they have gone over the top again. (I am still trying to figure out why the Administration would give $115 million of your hard earned tax dollars to a multi million dollar company to move from Westport to Stamford, about 9 miles when the owner personally made over $2 billion dollars last year.) Last week they gave $1.4 million to Clear Edge Power Corp. a company that laid off over 100 employees in March and now gets to keep this money if they hire 80 employees over the next 3 years. So the message is if you lay off workers we will give you money if you hire some of them back? This week the Supremacy is giving your money to a mortgage company? They are giving an interest free, mostly forgivable loan of $3.5 million to Total Mortgage Services Inc., they would pay 2% interest on the loan after 2 years , if they create jobs half the loan is forgivable. So, the state borrows this money $3.5 million because we don’t have it, you and I pay the interest and principal over the next 20 years and we loan the money to a mortgage company? I thought mortgage companies lent money, but the state deal is obviously better, does any of this make sense to you ? What are the chances of you getting a loan to start your own business in Connecticut, as a small start-up business person? You can’t make this stuff up….