Wow…. I somehow think that if we had a flat tax that all would be fair.
Check it out:
ESPN, a company that makes $6 billion a year in cable subscription fees, has received nearly $260 million in tax breaks from Connecticut over the past 12 years.
As the New York Times notes, ESPN is “hardly needy,” because with “100 million households paying about $5.54 a month for ESPN, regardless of whether they watch it, the network takes in more than $6 billion a year in subscriber fees alone.”
Yet, according to a Times analysis of public records, “ESPN has received about $260 million in state tax breaks and credits over the past 12 years,” including “$84.7 million in development tax credits because of a film and digital media program, as well as savings of about $15 million a year since the network successfully lobbied the state for a tax code change in 2000.”
Connecticut Gov. Dannel Malloy, a Democrat, belives that “the conventional wisdom is that any business with ESPN is good business. After all, ESPN is Connecticut’s most celebrated brand and a homegrown success story, employing more than 4,000 workers in the state.” To him, “ESPN is one of Connecticut’s best resources, and the state must use all tools available to aid its growth and keep its home base and the thousands of well-paying jobs it promises in Bristol.”