US 76, EU 6

Kenneth Thomas writes that the number of $100 million incentive packages offered in each place beginning in 2010 is US 76, EU 6.

Because of the lack of a framework in the United States, state and local governments spend almost $50 billion per year just to attract investment, and up to a further $20 billion in subsidies not even requiring investment, according to my estimates. This is more than enough to rehire every state and local employee who lost their job since the recession. All other things equal, subsidies make the economy less productive, and these subsidies transfer money from average taxpayers to the far richer subsidy recipients. In other words, they slow economic growth and contribute to economic inequality.

Emphasis Mine

In other words, Socialism for the rich, and Capitalism for the poor.