Millionaire businessman and NY Tea Party candidate Carl Paladino gets millions in tax breaks, but creates just a handful of jobs

For the last decade, anti-big government candidate Carl Paladino has pocketed millions of dollars in tax breaks by promising to jump-start economic revival in and around his native Buffalo.

Today it's clear that promise remains unfulfilled.

A Daily News probe found Paladino's companies netted $3 million in tax breaks through a program called the Empire Zones - while producing a grand total of 25 new jobs.

To justify tax breaks in one instance, he sold a dozen vacant lots he owned to himself and claimed hundreds of thousands of dollars in "real property investments." Seven years later, these "investments" remain what they were - vacant lots.

He's repeatedly vowed to cut state spending and trim the number of employees receiving state paychecks - a slash-and-burn tactic that could hurt his business.

Before he became the Republican candidate for governor, Paladino acknowledged this, but portrayed it as a sacrifice worth making for the state. He also promised The News he'd put all his financial interests in a blind trust if he wins.

After the economy slipped into recession in 2008, millions of Americans received unemployment benefits to make ends meet -- including almost 3,000 millionaires.

According to U.S. Internal Revenue Service data, 2,840 households reporting at least $1 million in income on their tax returns that year also collected a total of $18.6 million in jobless aid. They included 806 taxpayers with incomes over $2 million and 17 with incomes in excess of $10 million. In all, multimillionaires reported receiving $5.2 million in jobless benefits.
http://crooksandliars.com/susie-m...n-milliona

i wonder what the average number of jobs craeted per 3 million was/is from the porkulus bill? (for a comparison). According to this [jsonline.com] the stimulous created 1.4 million jobs from 800 billion dallars. if my math is correct that is 1 job per $571,428.57, or roughlyy 2 per million. Ironically, according to recovery.org [recovery.gov] the number is even leas at just under 800,000. ouch, that going to be about 1 million per job! Now to be fair (according to recovery.org), only 202 billion has been spent, so really thats 750,045 jobs in 202 billion or $269,317 per job. that sucks compared to the OP's article of 25 jobs from 3 million.

gov money: 269K per job
private money from OP: 120,000 per job.

OP, care to comment on actual facts???

i wonder what the average number of jobs craeted per 3 million was/is from the porkulus bill? (for a comparison). According to this [jsonline.com] the stimulous created 1.4 million jobs from 800 billion dallars. if my math is correct that is 1 job per $571,428.57, or roughlyy 2 per million. Ironically, according to recovery.org [recovery.gov] the number is even leas at just under 800,000. ouch, that going to be about 1 million per job! Now to be fair (according to recovery.org), only 202 billion has been spent, so really thats 750,045 jobs in 202 billion or $269,317 per job. that sucks compared to the OP's article of 25 jobs from 3 million.

gov money: 269K per job
private money from OP: 120,000 per job.

OP, care to comment on actual facts???

http://www.nydailynews.com/ny_loc...ul_of.html



LOL.... must be another Right-leaning newspaper out to smear righty Paladino.....

So why is this important: Well it shows not only the Tea Party is made up of crazies who would select any dirtbag as their candidate without checking his/her background but it also disprove the republican mythical belief that some how tax cut for the rich will actually create substantial amount of jobs...

Millions for a puny 25 employee

Thats right: TAX CUTS FOR THE RICH BUSINESSMEN WILL NEVER CREATE ANY SUBSTANTIAL JOBS as much as the republicans keep clinging on this stupid fallacy...

Although it may give some of them a substanial amount of money to run for a position of power in which they can then hurt even more people.......

Your comparison fails, you are not spending the entire 800 billion on labor and job creation..


Take the following example...

1) 4 billion is spent creating a new nuclear reactor that will provide power for 1/2 the state of wyoming, 1000 jobs are created to construct the facility with 200 to hired to run it.

or

2) 4 billion is spent on hiring 125,000 people (with some spent on overhead and supplies) picking up trash on the side of the road.

While #2 creates more jobs, it has 0 lasting societal benefit. It's disingenious to simply divide the 800 billion by number of jobs without taking into account what the money was spent on. AFAIK a lot of the stimulus programs were spent on road construction and bridge repair (with a lot of pork built in).

IMHO 4 billion spent on fixing roads (even if it creates less jobs) is more of a benefit then spending 4 billion on busy work with 0 lasting benefit.

TAX CUTS FOR THE RICH BUSINESSMEN WILL NEVER CREATE ANY SUBSTANTIAL JOBS

I am sure that there are some good projects in there, i don't doubt that. But the OP's arguement was pretty clear. since you missed it:

I simply showed that his example created more jobs than the gov program.

The Recovery Act
On Feb. 13, 2009, Congress passed the American Recovery and Reinvestment Act of 2009 at the urging of President Obama, who signed it into law four days later. A direct response to the economic crisis, the Recovery Act has three immediate goals:

Create new jobs and save existing ones
Spur economic activity and invest in long-term growth
Foster unprecedented levels of accountability and transparency in government spending
The Recovery Act intends to achieve those goals by:

Providing $288 billion in tax cuts and benefits for millions of working families and businesses

Increasing federal funds for education and health care as well as entitlement programs (such as extending unemployment benefits) by $224 billion

Making $275 billion available for federal contracts, grants and loans

Requiring recipients of Recovery funds to report quarterly on how they are using the money. All the data is posted on Recovery.gov so the public can track the Recovery funds.

In addition to offering financial aid directly to local school districts, expanding the Child Tax Credit, and underwriting a process to computerize health records to reduce medical errors and save on health care costs, the Recovery Act is targeted at infrastructure development and enhancement. For instance, the Act plans investment in the domestic renewable energy industry and the weatherizing of 75 percent of federal buildings as well as more than one million private homes around the country.

Construction and repair of roads and bridges as well as scientific research and the expansion of broadband and wireless service are also included among the many projects that the Recovery Act will fund.

While many of Recovery Act projects are focused more immediately on jumpstarting the economy, others, especially those involving infrastructure improvements, are expected to contribute to economic growth for many years.

But, isn't that the point of the stimulus??? to stimulate the economy so that private jobs are created???

I have not problem using public funds to build needed infrastructure.

i do have a problem with lies about the benefit of private investment, as clearly stated in the OP.

The city received $111 million in stimulus under American Recovery and Reinvestment Act (ARRA) approved by the Congress more than year ago.

"I'm disappointed that we've only created or retained 55 jobs after receiving $111 million," says Wendy Greuel, the city's controller, while releasing an audit report.

According to the report, the Los Angeles Department of Public Works generated only 45.46 jobs (the fraction of a job created or retained correlates to the number of actual hours works) after receiving $70.65 million, while the target was 238 jobs.

Similarly, the city's department of transportation, armed with a $40.8 million fund, created only 9 jobs in place of an expected 26 jobs.

3 million in tax cuts produced 25 jobs?

Wow.... sounds like a bargain in comparison to what the Los Angeles managed to do!!!

Guess the OP missed this thread.....