Missouri Republicans and Democrats just agreed to socialism for Boeing
(KPLR) – In Monday’s Jacology, Charles Jaco looks at socialism for Boeing.
The Republican Missouri General Assembly and the democratic Missouri Governor just spent four days endorsing socialism. Their whirlwind special session concluded with them voting for one billion 700 million dollars in taxpayer gifts to the Boeing corporation. This seems huge to me and you, but actually only amounts to about five months profit for Boeing. Boeing, you see made almost $4 billion dollars in pure profit last year. But, corporate socialism is just fine with the leaders in Jeff City. Just don’t ask them to okay anything like food stamps or expanded Medicaid for needy individuals.
Missouri wants Boeing to move production of its 777-X airliner to the Show-Me State. About another dozen states are also begging for Boeing. But in exchange for a few thousand highly paid, highly skilled jobs, Boeing wants a lot. A whole lot. Boeing wants the usual run of tax breaks that governments hand out to corporations. But Boeing, get this, is also demanding that the state government buy the land where the plant will be located, build the manufacturing plant, purchase part of the specialized machinery it will use, and then either let Boeing use it for free or simply give it to Boeing.
Boeing also doesn’t want to pay much, if anything in taxes. So in addition to getting the land, the building, and the equipment pretty much for free, Boeing also demands either elimination or deep cuts in its corporate income tax, excise taxes, property taxes, sales taxes, business license fees, gross receipts taxes, and franchise fees. Boeing’s eleven page proposal for the plant sent to each state makes the kind of demands a spoiled six year old makes around Christmas.
And yet Missouri’s willing to deal in what the Post-Dispatch, correctly called legalized bribery. But this is what happens once an economy almost collapses, loses hundreds of thousands of well-paying jobs, and replaces them with jobs at Walmart and McDonalds. People are willing to go to almost any lengths to get better jobs. Including socialism for one of the most profitable corporations on earth.
I’m Charles Jaco, and that’s Jacology.