Negative gearing is popular because it lowers home owners’ tax bills. But its critics say it has reduced affordable housing stock keeping the less well off out of the market.
Recent scandals involving economic development programs in New Jersey and Maryland highlight their many flaws, including a lack of oversight and their ineffectiveness.
Amazon nixed plans to build a headquarters in Long Island City after some New Yorkers questioned the wisdom of offering billions in tax breaks in exchange for job promises. A Texas study suggests they had reason to worry.
Some say the more than 230 cities that lost their bids for Amazon’s second headquarters were dupes in the retailer’s game. In fact, they were willing participants with their own aims.