How Jobs Are Created...
October 30, 2009
As unemployment reaches a 33-year high in Connecticut, the Connecticut Democratic Party, and even one of my Republican primary challengers, seem to think we should be making it more difficult for businesses to hire new employees. They fail to understand how important tax credits are for creating jobs.
A blog post this morning from the Stamford Advocate’s Brian Lockhart explains the economic misunderstandings and hypocrisy of those attacking business tax credits:
[If] state Democratic Party officials find the program flawed, they have no one to blame but their own party. Former House Speaker Jim Amann, D-Milford, spearheaded the film and television tax credit formula that allows existing companies to benefit and continues to take credit for it as he seeks his party’s nomination to run for governor in 2010.
…
And I wonder if [Rob] Simmons knows the legislature’s Republican Minority decried efforts during this year’s budget battle to impose higher taxes on businesses, including doing away with tax credits. The final kicker here is that, until a few months ago, Simmons was the official Connecticut Business Advocate. If he had any qualms about the film and television tax credits, that was the time to speak up.
The fact is that tax credits create jobs, and I know this firsthand. My former company, WWE, which is based in Stamford, was able to create 52 jobs right here in Connecticut as a direct result of the very tax credits some politicians are now attacking. Tax credits are not government bailouts, they’re incentives to get businesses to invest more resources in Connecticut. Someone who doesn’t understand this does not belong in Congress, especially at a time of record unemployment.
October 30, 2009
As unemployment reaches a 33-year high in Connecticut, the Connecticut Democratic Party, and even one of my Republican primary challengers, seem to think we should be making it more difficult for businesses to hire new employees. They fail to understand how important tax credits are for creating jobs.
A blog post this morning from the Stamford Advocate’s Brian Lockhart explains the economic misunderstandings and hypocrisy of those attacking business tax credits:
[If] state Democratic Party officials find the program flawed, they have no one to blame but their own party. Former House Speaker Jim Amann, D-Milford, spearheaded the film and television tax credit formula that allows existing companies to benefit and continues to take credit for it as he seeks his party’s nomination to run for governor in 2010.
…
And I wonder if [Rob] Simmons knows the legislature’s Republican Minority decried efforts during this year’s budget battle to impose higher taxes on businesses, including doing away with tax credits. The final kicker here is that, until a few months ago, Simmons was the official Connecticut Business Advocate. If he had any qualms about the film and television tax credits, that was the time to speak up.
The fact is that tax credits create jobs, and I know this firsthand. My former company, WWE, which is based in Stamford, was able to create 52 jobs right here in Connecticut as a direct result of the very tax credits some politicians are now attacking. Tax credits are not government bailouts, they’re incentives to get businesses to invest more resources in Connecticut. Someone who doesn’t understand this does not belong in Congress, especially at a time of record unemployment.
