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States give billions to foreign automakers,bailout?
A couple of southern states have given billions in total to some of the foreign automakers to locate in their states.Isn't this a form of a bailout,and what makes this different then the loans to the Detroit 3?
Yes,their intrest is to kill the Detroit 3 and take the kickbacks from the foreign automakers.
3 Answers
- VeronaLv 41 decade agoFavorite Answer
No. The southern Republicans are just playing politics and protecting "their" interests instead of the nation's.
- 1 decade ago
It's not at all unusual for state and local municipalities to offer incentives to business to locate in their territory. These incentives may come in the form of infrastructure (roads & bridges), subsidized land costs, subsidized property tax rates, etc. This is done because in the long run, the state will be further ahead due to increased taxes from the work force plus all the other benefits of increased economic activity. The lower tax policy does work to attract businesses, which helps with unemployment. Some states, such as Michigan, have taken the opposite approach and actually raised taxes on business. As a result, many businesses are leaving the state making it even worse for those who remain.
- bearcatLv 41 decade ago
What makes it different is the foreign makers have a future and a plan....the big 3 are a rudderless ship adrift in a sea of confusion....
