Eye on NY: Another Economic-Development ‘Flop’
Plans to attract Canadian battery company Zinc8 to New York with “government incentives” seem to have failed, according to Ken Girardin at the Empire Center. Zinc8 had been working towards a low-cost zinc-air battery for a “renewable-heavy energy grid.” However, last week, its CEO resigned, employees were laid off, and its stock prices plummeted. The state had granted the company $9 million in tax credits based on employment, and $8 million was spent on the industrial park where it was supposed to be the primary tenant. Although the losses were not as significant as other state-backed technology failures like the Buffalo SolarCity plant, which received nearly $1 billion from the state, this incident serves as a reminder that taxpayers often lose when the state chooses winners in the energy storage sector.
Ex-NJ treasurer: Menendez May Have Tax Woes, Too
Senator Bob Menendez is facing charges of conspiracy to commit bribery, honest services fraud, and extortion. However, Andrew Sidamon-Eristoff at NJ Spotlight News suggests that there may be more to come, specifically concerning his civil and criminal tax liabilities. The indictment alleges that the senator and his wife received bribes in the form of cash, gold bullion, mortgage payments, and other valuables. It may be challenging to prove that these were loans, but if they were compensation for services or even gifts, Menendez and/or his co-defendants, who were also his donors, could be liable for taxes. Menendez would be wise to remember the fate of Al Capone, who was ultimately imprisoned for tax evasion.
Culture critic: Fake ‘Trauma Merchants’
Comedian Hasan Minhaj’s popularity was built on his suffering as an Indian and Muslim son of immigrants in post-9/11 America, according to Kat Rosenfield at The Free Press. However, she asserts that his most popular material contains omissions and blatant lies about the persecution he faced. In the era of Trump-focused identity politics, it is not surprising that someone like Minhaj might monetize and even fabricate his trauma. However, Rosenfield suggests that once investigative journalists uncover the truth, these “trauma merchants” will face the consequences.
Libertarian: Credit Taylor Swifties, not Biden
President Biden hastily claimed credit when Ticketmaster announced changes to its pricing structure. However, Eric Boehm at Reason argues that the real thanks should go to Taylor Swift and her fans. Ticketmaster faced pressure from Swifties after numerous ticket sales mishaps for Swift’s highly sought-after Eras Tour. Biden contends that Ticketmaster’s decision validates his crackdown on “junk fees.” However, Boehm points out that businesses will not willingly decrease their profits, and forcing them to bundle costs will limit consumer choices. Boehm believes that consumers, not bureaucrats, should decide whether they receive enough value for their money.
Gov’t watchdogs: Fix Food-Stamp Fraud Now
Recent reports have raised concerns about food stamp fraud, which undermines the intended purpose of the Supplemental Nutrition Assistance Program (SNAP) and erodes public trust in government welfare programs. Andrew McClenahan and Dawn Royal at The Hill emphasize the urgency of addressing fraud and abuse within this vital social safety net. One immediate challenge is preventing criminals from stealing benefits from deserving SNAP recipients. Implementing rigorous identity verification measures can help address this issue. Another key concern is the trafficking of SNAP benefits, which requires better data sharing among federal and state agencies and stricter penalties for traffickers. States need adequate funding and resources to detect, prevent, and prosecute fraud within the SNAP program.
— Compiled by The Post Editorial Board
Denial of responsibility! Vigour Times is an automatic aggregator of Global media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, and all materials to their authors. For any complaint, please reach us at – [email protected]. We will take necessary action within 24 hours.
