As you can see, steps one through four have to do with expanding our tax base.
The plan, as it sits in my head right now, is split up into phases. These first four steps could be classified as, "Phase 1". In order for our state to meet the minimum needs of it's citizens, we MUST expand the tax base.
The expansion of the tax base works in many different facets. By enacting business friendly policies we stand to not only gain a tax base that comes directly from the businesses but also it's payroll, who it does business with in the state, what the towns make in property taxes, plus the amount of sales tax.
Think of it like this, because a business moves in due to our first three steps (after being recruited according to the Fourth Step).
The State of Rhode Island stands to make not just 5% of all profits created from the new entity (which is below the median in the nation) but now that business is paying payroll taxes to us. Those 300 employees they just hired are paying income tax. That A/C in the conference room that just broke? They hired a local company to come and fix it, and we get the benefits of that as well.
At lunch a few workers stop at the nearby Cumberland Farms, we get revenue from that as well. They need to grab gas prior driving home... we get money for that as well.
I remember back in 1992 I worked at Speidel, first as a summer job between semesters but then as something more permanent once my life took an unexpected and wonderful turn. At the time it was owned by Textron.
There was a nearby Shell I always filled my tank at. I used to eat at a Gyro shop right across from the Providence Performing Arts Center. My health care was from a state health care provider. The doctors my wife and I went to with that health care provider were local as well, my oldest daughter was born at Women and Infants, ect. ect.
I don't really need to tell you all this, you live it every day as well. With business, comes revenue in all forms from all places.
But as the State government expanded it's hold, continued to raise taxes, and suffocated the place... eventually Textron sold Speidel to a European company who found they could avoid all the hassle and costs of a repressive government by simply producing the watchbands, ID bracelets, ect. overseas. They tried hard to stay in RI too...
Guess what happened to that Shell? To that Gyro Shop? Are either still there? I don't know, I do know that neither are getting a few thousand visits from Speidel workers because that company is gone (except a packaging branch in East Providence, I believe).
So what's on Empire St. now? Curt Shilling's 38 studios (who I really wanted to succeed because not only am I a gamer nerd but I was hoping to apply there when I got out of the Army). A private business where the state government gave millions of tax payer monies to an upstart company in a highly competitive field.
What if our state just lowered the oppressive burden we had on Speidel? Would it still have moved manufacturing overseas? Would we have needed to bribe 38 Studios with millions of dollars or would they have just moved to RI willingly? Could we have had both businesses in Rhode Island and not have had one of them owe us millions of dollars?
The next few steps (phase 2) will deal with our budgetary issues. Stayed tuned only reader (probably my wife).
The plan, as it sits in my head right now, is split up into phases. These first four steps could be classified as, "Phase 1". In order for our state to meet the minimum needs of it's citizens, we MUST expand the tax base.
The expansion of the tax base works in many different facets. By enacting business friendly policies we stand to not only gain a tax base that comes directly from the businesses but also it's payroll, who it does business with in the state, what the towns make in property taxes, plus the amount of sales tax.
Think of it like this, because a business moves in due to our first three steps (after being recruited according to the Fourth Step).
The State of Rhode Island stands to make not just 5% of all profits created from the new entity (which is below the median in the nation) but now that business is paying payroll taxes to us. Those 300 employees they just hired are paying income tax. That A/C in the conference room that just broke? They hired a local company to come and fix it, and we get the benefits of that as well.
At lunch a few workers stop at the nearby Cumberland Farms, we get revenue from that as well. They need to grab gas prior driving home... we get money for that as well.
I remember back in 1992 I worked at Speidel, first as a summer job between semesters but then as something more permanent once my life took an unexpected and wonderful turn. At the time it was owned by Textron.
There was a nearby Shell I always filled my tank at. I used to eat at a Gyro shop right across from the Providence Performing Arts Center. My health care was from a state health care provider. The doctors my wife and I went to with that health care provider were local as well, my oldest daughter was born at Women and Infants, ect. ect.
I don't really need to tell you all this, you live it every day as well. With business, comes revenue in all forms from all places.
But as the State government expanded it's hold, continued to raise taxes, and suffocated the place... eventually Textron sold Speidel to a European company who found they could avoid all the hassle and costs of a repressive government by simply producing the watchbands, ID bracelets, ect. overseas. They tried hard to stay in RI too...
Guess what happened to that Shell? To that Gyro Shop? Are either still there? I don't know, I do know that neither are getting a few thousand visits from Speidel workers because that company is gone (except a packaging branch in East Providence, I believe).
So what's on Empire St. now? Curt Shilling's 38 studios (who I really wanted to succeed because not only am I a gamer nerd but I was hoping to apply there when I got out of the Army). A private business where the state government gave millions of tax payer monies to an upstart company in a highly competitive field.
What if our state just lowered the oppressive burden we had on Speidel? Would it still have moved manufacturing overseas? Would we have needed to bribe 38 Studios with millions of dollars or would they have just moved to RI willingly? Could we have had both businesses in Rhode Island and not have had one of them owe us millions of dollars?
The next few steps (phase 2) will deal with our budgetary issues. Stayed tuned only reader (probably my wife).
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