Vote No on LA Measure E: Economic Incentives For Business Development
Amends the City Charter to state that the City may provide economic incentives to attract new businesses to the City or to keep current businesses in the City. Incentives must result in clearly identifiable public benefits, must follow applicable law, and must be approved by the Mayor and Council.
While this measure sounds good on the surface, it simply memorializes in the City Charter what the Mayor and City Council have already been doing, giving away millions of dollars each year of your hard earned tax dollars to rich, politically connected developers in the form of subsidies, tax breaks and other special treatment. These developers then turn around and support the campaigns of the politicians that transferred your money to them, assuring that these politicians will continue in office year after year where they can do more political favors for those that helped put them there. It’s an unholy alliance and this ballot measure makes it worse.
Economic studies show that “incentive” programs do not work: they do not create wealth; they just redistribute money from taxpayers to people with political connections. The best way to improve our business climate it to cut taxes and fees and reform the process that makes business owners and entrepreneurs wade through an unnecessary bureaucracy and mountains of paperwork in order to start and run their businesses.
There’s a lot of smart things we can do to improve business development in Los Angeles, but Measure E is not one of them.
Recommendation: Vote NO
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by David Boaz or 
by David Bergland, both excellent books on libertarian thought.
