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Press release economics

June 07, 2009

Iowa, along with other states, promotes economic growth by taking your money in taxes and using it to lure and subsidize your competitors. If you wonder what motivates such foolishness, you should read the discussion of "press release economics" at "Injustice of State Subsidies" on the Cato blog.

I like this part:

Anyhow, journalists should be on the lookout for more press-release economics schemes coming from the states as revenues remain tight and politicians become desperate to demonstrate they’re "doing something." Journalists should examine a state’s tax structure when a taxpayer giveaway is announced to see if perhaps the governor is masking economic-unfriendly fiscal policies.

Will The Newspaper Iowa Depends Upon begin to speak truth to power?