Comments on: Penna. Legislators Want More Tax Credits for Petrochemical Industry https://www.frackcheckwv.net/2020/03/16/penna-legislators-want-more-tax-credits-for-petrochemical-industry/ Just another WordPress site Wed, 14 Feb 2024 02:06:39 +0000 hourly 1 http://wordpress.org/?v=3.0.1 By: Tom Bond https://www.frackcheckwv.net/2020/03/16/penna-legislators-want-more-tax-credits-for-petrochemical-industry/#comment-266100 Tom Bond Tue, 17 Mar 2020 03:00:12 +0000 http://www.frackcheckwv.net/?p=31673#comment-266100 They want to catch-up with West Virginia, really? As Jay Hammond, then governor of Alaska, once said, "unlike Alaska, West Virginia has failed to 'diaper the devil' because it has inadequately taxed its extractive industries or put the revenue in a permanent fund to ensure future generations will benefit from the state's natural wealth." Corporate Social Responsibility is really a hoax, for the simple reason that the vast majority of corporations have a single-minded focus on the short-term maximization of shareholder value, and that priority is baked into their DNA. We live in a marketocratic society, in which big business capitalism and democracy are incompatible. Tom Bond, Lewis County, WV They want to catch-up with West Virginia, really? As Jay Hammond, then governor of Alaska, once said, “unlike Alaska, West Virginia has failed to ‘diaper the devil’ because it has inadequately taxed its extractive industries or put the revenue in a permanent fund to ensure future generations will benefit from the state’s natural wealth.”

Corporate Social Responsibility is really a hoax, for the simple reason that the vast majority of corporations have a single-minded focus on the short-term maximization of shareholder value, and that priority is baked into their DNA. We live in a marketocratic society, in which big business capitalism and democracy are incompatible.

Tom Bond, Lewis County, WV

]]> By: S. Thomas Bond https://www.frackcheckwv.net/2020/03/16/penna-legislators-want-more-tax-credits-for-petrochemical-industry/#comment-266003 S. Thomas Bond Mon, 16 Mar 2020 15:58:37 +0000 http://www.frackcheckwv.net/?p=31673#comment-266003 They want to catch-up with West Virginia. As Jay Hammond, then governor of Alaska, once said, "unlike Alaska, West Virginia has failed to 'diaper the devil' because it has inadequately taxed its extractive industries or put the revenue in a permanent fund to ensure future generations will benefit from the state's natural wealth." Corporate Social Responsibility is really a hoax, for the simple reason that the vast majority of corporations have a single-minded focus on the short-term maximization of shareholder value, and that priority is baked into their DNA. We live in a marketocratic society, in which big business capitalism and democracy are incompatible. They want to catch-up with West Virginia. As Jay Hammond, then governor of Alaska, once said, “unlike Alaska, West Virginia has failed to ‘diaper the devil’ because it has inadequately taxed its extractive industries or put the revenue in a permanent fund to ensure future generations will benefit from the state’s natural wealth.”

Corporate Social Responsibility is really a hoax, for the simple reason that the vast majority of corporations have a single-minded focus on the short-term maximization of shareholder value, and that priority is baked into their DNA. We live in a marketocratic society, in which big business capitalism and democracy are incompatible.

]]> By: Jim Kotcon https://www.frackcheckwv.net/2020/03/16/penna-legislators-want-more-tax-credits-for-petrochemical-industry/#comment-265992 Jim Kotcon Mon, 16 Mar 2020 15:04:51 +0000 http://www.frackcheckwv.net/?p=31673#comment-265992 <strong>NOT ONLY IN PENNA., BUT IN W.V. TOO! (3/16/20)</strong> One does not need to go to Pennsylvania to see this. Our own WV Legislature earlier this month passed HB 4001, which provides significant tax breaks and state support for any investment of $25 million that can not get private funding. If an investment is so risky that private banks won't fund it, why should the State get involved? And why make it tax-exempt? Meanwhile the Monongalia County Commission is considering another huge property tax break for a gas-fired power plant. The PILoT Agreement would also waive B&O taxes to the State. Given the certainty of climate change and the need to eliminate greenhouse gas emissions, a tax break for renewables might make sense, but a tax break for fossil fuels is just plain dangerous. Jim Kotcon, Monongalia County, WV NOT ONLY IN PENNA., BUT IN W.V. TOO! (3/16/20)

One does not need to go to Pennsylvania to see this. Our own WV Legislature earlier this month passed HB 4001, which provides significant tax breaks and state support for any investment of $25 million that can not get private funding. If an investment is so risky that private banks won’t fund it, why should the State get involved? And why make it tax-exempt?

Meanwhile the Monongalia County Commission is considering another huge property tax break for a gas-fired power plant. The PILoT Agreement would also waive B&O taxes to the State.

Given the certainty of climate change and the need to eliminate greenhouse gas emissions, a tax break for renewables might make sense, but a tax break for fossil fuels is just plain dangerous.

Jim Kotcon, Monongalia County, WV

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