David Cay Johnston Reports More Government Waste

David Cay Johnston Reports More Government Waste

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Courtesy of Paul Caron in Johnston: Your Tax Dollars At Work, Unconstitutionally:

Reuters, A Gift, From NY to Abu Dhabi, by David Cay Johnston:

How does being taxed to give money to the oil-rich kingdom of Abu Dhabi and its hereditary ruler strike you?  The cost, if you live in New York State, comes to about $1.4 billion, or roughly $190 per household, for an economic development deal with a privately held company called GlobalFoundries to build a microchip plant near Albany. … The deal for the chip plant is being challenged in court by a long-time critic of “corporate welfare” in a case that will test New York‘s long-standing policy of subsidizing business.

Interesting bit of reporting by Mr. Johnston, but I don’t think it means what he thinks it means.

Johnston has unwittingly provided us with an excellent example of why people should oppose, not support, tax increases. Governments that waste the moneys already given them have no right to force taxpayers to give  them more money.

Postscript: Is it naive for me to assume that a similar excoration by Mr. Johnston of the Obama administration’s reckless investment in Solyndra is forthcoming?

About Peter Pappas

Peter is a tax attorney and certified public acccountant with over 20 years experience helping taxpayers resolve their IRS and state tax problems.

He has represented thousands of taxpayers who have been experiencing difficulty dealing with the Internal Revenue Service or State tax officials.

He is a member of the American Association of Attorney-Certified Public Accountants, the Florida Bar Association and The Florida Institute of Certified Public Accountants and is admitted to practice before the United States Tax Court, the United States Supreme Court, U.S. District Courts - Middle District of Florida

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Comments

  1. David Cay Johnston says:

    Mr. Pappas, May I suggest you first actually reading my columns before critiquing them (which you evidently did based on an excerpt) since your post makes as much sense as your line above “I don’t think it means he thinks it means.”

    Column posted at http://blogs.reuters.com/david-cay-johnston/2011/11/01/a-gift-from-ny-to-abu-dhabi/

    video at http://www.youtube.com/watch?v=3-aoBZ4d-Ro

  2. David,

    It wasn’t much of a critique, really. I agreed with you.