The Bloomington City Council will be playing favorites and hand picking businesses to support with tax money when they vote to hand taxpayer cash over to Kroger and Sam Leman Toyota.
In a plan to be voted on Monday, sales tax collected by the city will be diverted back to the owners in the following way: 1% of total sales tax gifted back to Kroger for a period of 10 years, and 1/2 of 1% of total sales tax gifted back to Sam Leman for a period of 10 years.
The cap on the amount of tax money that will be given to Kroger is $2.4 million and $700,000 for Sam Leman.
The business climate is so unfriendly in Bloomington that both businesses are threatening to go elsewhere.
In exchange for the bailout, Kroger will build a new mega-store and Sam Leman will agree to stay in Bloomington.
Don’t call it capitalism when the government picks the winners.