Local action against government giveaways to business

The power and taxes collected by the government are often used in ways that benefit large and politically connected businesses.  Recently Goldman-Sachs announced that it had a $3.44 million dollar net profit in the second quarter, much more than they projected.  In June they paid back their $10 billion TARP loan and a preferred dividened of about $426 million. Beides their bailout, they benefitted from the $13 billion bailout given to AIG, government backing of Goldman Sachs' bonds, overnight loans at an extremely low interest rate, etc (see www.epi.org/analysis_and_opinion/entry/behind_goldman_sachs_second_quarter_profit/).  Meanwhile, the small capitalists are "small enough to fail" (www.epi.org/economic_snapshots/entry/snapshot_20090603/) and to the biggest companies go the spoils.  Talk of a second bailout has started already.  More locally, Federal money is funding a private toll road to be built in RTP, the first toll road in NC.       
 
Of course, this did not start with this recession and the Federal government.  This pdf (www.durhamcountync.gov/departments/bocc/Candidate_Guide/Documents/Update%20County%20Incentives%20Since%201997.pdf) lists some of Durham County's millions of dollars in business incentives for companies such as Merck.  Other parts of the Triangle probably have similar programs, as does the State.  Then they say they don't have enough money to fund public responsibilities, such as verifying where Jordan Lake's shoreline. 
 
The State corporate tax was changed to lure an Apple data center, in competition with Virginia and South Carolina.  Apple will save about $46 million in taxes over a decade, and they decided to locate in Catawba County after getting a projected $21 million dollar local tax break over a decade(www.newsobserver.com/business/story/1602003.html). 
 
The use of the government for the benefit of capital, and usually by the big capitalists against both the small capitalists and the working class, is the topic of the next non-partisan Triangle Socialist Forum meeting.  Hopefully the meeting will result in some concrete local actions this fall.  The meeting will be at the Durham Main Library, Wednesday, August 12th at 7pm in the third floor conference room (in the area opposite the elevator and at the back of the stacks on the right).