I'll give you one gue$$ who is taking a bath in the harbor, taxpayers:
"State Street latest to win tax break on the waterfront" by Casey Ross |
Globe Staff, June 11, 2012
Boston officials plan to give State Street Corp. $11.5
million in tax cuts to construct an office building on the South Boston
Waterfront, the latest deal by the city to help transform the
once-shabby industrial district....
Related: State Street Stealers
Why do they need more tax loot when they are making billions AND GETTING HUNDREDS of MILLIONS from the FEDERAL GOVERNMENT -- all the while being allowed to use built up losses(?) as a write-off for YEARS?
Also see: Fed Funnels Made Millions Off Mutual Fund Bailout
State Street Stole From Ohio Pension Fund
They even screwed nuns, readers.
State Street, one of the city’s largest financial services employers, has been negotiating the tax break for several months....
State Street is the latest of several large companies
to win a tax break for new offices on the waterfront, where Boston
officials are trying to create a so-called Innovation District with new
businesses, retail stores, and residences.
Vertex Pharmaceuticals Inc. received more than $21.8 million in city
and state tax incentives for a pair of large office buildings under
construction at Fan Pier.
On top of the $12.4 million last year?
Related: No Veracity at Vertex
Also see: Inverted Vertex
I'm feeling caught up in it now.
In prior years, JP Morgan Chase & Co. and
Manulife have also been given favorable tax treatment.
Related: Still Jerks at JPMorgan
Such deals are often controversial, because they are typically given
to large, profitable companies.
As SOCIAL SERVICES are SLASHED and TAXES RISE! That is the PROBLEM!
State Street, for example, reported net
income of $1.92 billion in 2011 and paid its chief executive, Joseph
Hooley, total compensation of $16 million, according to documents filed
Yeah, that is with a B, readers, and it is MORE than LAST YEAR!
"Corporate profits have
risen 58 percent since mid-2009" and "corporate profits set a post World War II record last year" while big banks are booming and oil companies are awash in profits.
And now they are getting MORE TAXPAYER DOLLARS?
Moreover, State Street was not proposing to build elsewhere if Boston
did not provide the tax break, according to city officials.
Yeah, authorities JUST GAVE 'EM the MONEY because they DON'T KNOW WHAT ELSE TO DO WITH IT!
development in the Innovation District appears to be moving forward in
its own right....
That is why I NEVER WANT the programs started in the first place. Once you open a trough of taxpayer loot the stream stays eternal.
I can't see the church from there.
Oh, now I can.
Also see: Massachusetts' Lost Decade of Jobs
Those Are the (Tax) Breaks in Massachusetts
Are you REALLY getting your money's worth, Massachusetts taxpayers?
You coulda been a contender -- instead of just an ATM for corporate concerns.