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March 21, 2008
Taxes Cut and Promises Unkept
The NY Times
By Clyde Haberman
In the midst of a slightly rambling column on the frugal Governor Paterson and corporate welfare, we find what might be Clyde Haberman's first reference to criticism of Bruce Ratner's Atlantic Yards boondoggle:
So with the sudden collapse of the former governor’s political career, taxpayers may be cheered to have a new man in charge who knows how to rein in costs.
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Over the years, Bear Stearns turned to City Hall repeatedly for handouts, usually with threats to move its operation out of New York.
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Critics prefer to call the deal-making “corporate welfare.” Some companies got the goodies without even having to threaten to move. Through this routine, hundreds of millions of dollars in tax revenue have been lost to the municipal treasury.Mayor Michael R. Bloomberg, a self-made billionaire, holds no love for the process. Not that he is against giving big business a big hand. He has offered other forms of rich subsidies to well-heeled types like the Yankees and the Mets and developers with eyes on the Far West Side of Manhattan and the Atlantic Yards in Brooklyn.
“It’s still a corporate giveaway, no matter how you dress it up,” said Bettina Damiani, the director of Good Jobs New York, an advocacy group that takes a dim view of the handouts.
Posted by lumi at March 21, 2008 5:07 AM