By Lars Larson
To be honest, I don’t like special tax deals. I didn’t like the special deal cut for the Boeing corporation and didn’t like the deal with Intel. If you have to cut special deals to keep the biggest, best, most high profile companies from leaving, it suggests you have an overall problem of taxes that are too high. Second, the special deals usually benefit the marquee companies but don’t help the little mom and pops that provide the greatest job growth potential. If Intel, Boeing or Nike is overtaxed, imagine how the little guy is affected.
Yesterday, Intel admitted it plans to cut 12 thousand jobs world wide – about ten percent of its workforce. Since Oregon has almost twenty thousand Intel workers, the layoffs here could number around two thousand. This just two years after Oregon granted a 30 year tax promise to intel.
Boeing also got a special deal from Washington, and also announced thousands in layoffs this year. If taxes are too high, they’re too high for everyone – not just for the familiar names.