Wednesday, November 2, 2011
How does being taxed to give money to the oil-rich kingdom of Abu Dhabi and its hereditary ruler strike you? The cost, if you live in New York State, comes to about $1.4 billion, or roughly $190 per household, for an economic development deal with a privately held company called GlobalFoundries to build a microchip plant near Albany. ... The deal for the chip plant is being challenged in court by a long-time critic of “corporate welfare” in a case that will test New York‘s long-standing policy of subsidizing business.