"How does offering reduced property taxes to attract and retain industry and jobs result in stealing money?"
Moonshine's response was right in the money as far as I'm concerned.
If the government believes that reducing property taxes attracts and retains industry and jobs, then the logical thing to do is reduce property taxes for all.
Of course to reduce taxes for all, the government would have to drastically reduce costs. take an axe to it's own structure, and eliminate wasteful, unneeded departments and jobs. And that's the kicker. The bureaucrat may have to eliminate is own job and those of his subordinates..
Will the bureaucrat voluntarily jump off the gravy train? Has government EVER reduced it's size? I say no.
Government instead keeps broadening it powers and justifies more government growth to profess to fix the economic problems that it actually created, funded by extorting more and more money from the private sector.
If government reduces taxes for certain individuals or companies and at the same time keeps becoming larger and more expensive, then the increasing tax burden is forced on those who do not receive those tax incentives and grants.
Is that not irresponsible government? Isn't that what they call robbery from the stockholders, the stealing of money from one individual or group to the benefit of choosen and well connected few in the case of an Adelphia or an Enron?