Louisiana Legislature And Their Pork

Louisiana lost 3700 non-farm jobs in May and the unemployment rate jumped to 6.6% from 4.1% in May 2008.  AT the same time gasoline prices are still rising at the pump despite  an over supply and despite the fact that gasoline usage is still down.

 

The Louisiana legislature closed its session the other day but not before providing millions of dollars of tax breaks to businesses as they have been doing on a regular basis for years.  The people are told it is necessary to create jobs but unemployment is going up not down.  The jobs are not being created when they are needed the most, in an economic downturn. 

 

Mr. Benson and his Saints made out like bandits again thanks to our elected officials.  It pays to have money in this state.  The Saints play in the dome no more than 11 days a year and for that Mr. Benson is paid millions of dollars in cash and other goodies. 

 

The Louisiana economy will turn around and create jobs when the national economy does so.  Business welfare does not create and sustain jobs.  Those industries who receive those hand outs prove that over and over.  The people would do well to remember the Investment Tax Credit that congress passed over 20 years ago.  It was done at the urging of CEO's of big business.  They said it was necessary to buy new plant and equipment to make them more competitive and have the latest technology which would make them more efficient and more profitable and plow those profits back into their plants and keep them competitive.  Well instead of plowing those profits back into their businesses they went to bonuses for their CEO's and executives.  That's what a study by congress found out.

 

With all of the tax breaks and corporate welfare given to American businesses for the past 50 years one would think we should have a lasting economy and job creation. Politicians who benefit from lobbyist campaign cash are just as bad ad the bosses of American businesses.  Louisiana has a governor who is AWOL concerning those things that really matter and make a difference for the average citizen.  Once again it was business who came out on top this session of the legislature and the governor led the way.