2018-02-16 / Letters

Question tax breaks

To the editor:

Maine residents should be outraged that defense contractor General Dynamics is coming to the taxpayer trough again for $60 million to subsidize their operation at Bath Iron Works. This corporate welfare, which has already cost our state $200 million since 1997, must stop.

General Dynamics is the sixth largest defense contractor in the world, had $31.3 billion in revenues in 2016 and is so profitable that they are doing stock buy-backs to the tune of $12.9 billion. General Dynamics also just had its tax rate reduced by the Trump administration from 30 percent to 21 percent. This will significantly fatten General Dynamics’ and the bottom lines of other mega corporations’ bottom lines.

For example, Pfizer, the big pharma giant, will reap an $11 billion gain as a result of this tax break. Billions folks, we’re talking billions. So why does General Dynamics want millions more from Maine the 33rd poorest state in the nation? One word. Greed. General Dynamics and other corporations such as Amazon seek to play states off one another if not given huge tax incentives. It seldom works to the taxpayer’s advantage.

Please write, call or visit your state representatives and let them know, loud and clear, enough is enough. No more corporate welfare. We want to live in a democracy, not a kleptocracy.

We must stop corporations like General Dynamics from scamming taxpayers by subsidizing their losses and privatizing their profits at our expense.

Don Kimball South Portland

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