The Los Angeles Times reports that after receiving $111 million in federal stimulus money the City of Angels has only created 55 jobs. Officials counter that whenever they get around to spending taxpayers cash the total jobs created will be 264.
Yeesh.
With California losing citizens and jobs to other states in record numbers, why not allow cities like L.A. to give $1 million to any business that promises to move into city limits and employ a domestic workforce? Better yet, give 111 businesses $1 million in tax breaks to set up shop and revive the local economy.
American taxpayers can’t afford to spend millions of dollars for dozens of jobs. (And government jobs at that!) Since we need a much higher return on investment to get the economy growing again, why not direct money and incentives to businesses? After all, they – unlike bureaucracies – can create jobs without perpetual government handouts.
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