(California) Manufacturers' ($82M) tax refunds rile critics

[UpInArms]

http://seattletimes.nwsource.com/html/nationworld/2002130885_refunds26.html

SACRAMENTO, Calif. — A small group of companies that paid no state income tax have begun receiving millions of dollars in refunds after a state board ignored its staff and ordered the checks written.

Critics call it an $82 million corporate giveaway at a time when California has no money to spare. The dispute has revived calls from some people to abolish the agency that issued the ruling: the state's five-person Board of Equalization.

"I can't imagine anyone would be so brazen, particularly when the budget deficit is as large as it is and possibly growing," said Assemblyman Mark Ridley-Thomas, D-Los Angeles.

<snip>

State tax attorneys said the credit, which expired in 2003, was intended to attract and keep manufacturers in California, but never to provide refunds to companies paying no income tax.

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[acmavm]

1. And corporate welfare takes another big bite of of the money so badly

needed for the health and welfare of the people. It's just so bushwellian.

[Rose Siding]

2. They are giving corps the people's money more directly now

Will we save on a middle man?

[TahitiNut]

3. Remember, this 'income' is pure profit.

It goes directly to the bottom line with virtually no associated expense. As such, it's a giveaway to the wealthy.