@andrew@law It's an argument which needs to be had, especially because not all incentives are equal, but this argument may be more open to attack than we might want when gunning for such powerful interests.
i.e. the opportunity cost of not giving $1 in tax credits for $3 of incentivized spending is $3. Absent the incentive, the spending is $0 so the multiplier is 3 (not <0).
i.e. out-of-state workers are taxed in GA when their in-state income exceeds $5k.