AOC gets what she wants: [NYT] Amazon Pulls Out of Planned New York City Headquarters

I don't necessarily like the idea of giving companies incentives to come to your local …. but these incentives are city / county level not state or federal. NYC doesn't have the authority to give Company X federal or state tax cuts but they can give them city tax cuts (generally property tax in our neck of the woods) and even then its a net positive for the tax base because of all the other opportunities it brings.

I think this is a point that's being greatly overlooked here …. they'd still be paying their fair share of federal taxes , state taxes while avoiding the city/county taxes

 

But would Amazon create those jobs and build all these distribution centers without tax subsidies?

What about the loss of revenue to the schools, services and local infrastructure? Do you see any correlation between giving away the kitchen sink to corporations and wage stagnation/ services not keeping up?

I view it as we’ve gone to far to one side with corporate welfare and acting like they are doing us a favor.

I actually agreed with the Corporate Tax cut, but all the extra pork in there was just giveaways.

The thing about subsidies is that it is robbing Peter to pay Paul.

And carried loses and depreciation. Amazon essentially was to carry over these “credits” during the many years they weren’t profitable.

 

And the people most affected by Amazon going into the area are missing out the revenue that would go to community where Amazon actually is. Won’t that area need a lot of infrastructure money to support the influx of people?

Where’s the line here? This isn’t some start up but a major company who plays municipalities off of each other to avoid paying taxes.

 

Hey, Breitbart *is* great. It's been proven by facts and figures, and independent research.

In any case, the adverbs and adjectives in that article were beyond tendentious. Maybe it was an op-ed, but still.....

 

Carried losses are "fair". We all get to carry forward capital losses to offset capital gains (assuming we are fortunate to have any).

Amazon lost money for years. I recall articles questioning whether the model could ever work.

Now, lots and lots of people love the convenience of Amazon. I obviously don't know this, but my gut is that investors may be less willing to suffer the early (and in this case staggering) losses of a start-up if you couldn't recoup some of those losses later as deductions. (I don't know if Amazon used carried losses because the articles I read focused on equity comp and R and D, but I believe you).

 

On the issue of lost revenues to schools etc, if you have 2 or more companies looking to move into a specific plot of land, and you determined they would both create equal jobs, supplemental businesses etc, than you are right. Stupid to subsidize and give away money.

That is why I asked about opp'y costs.

In this instance, it looks like there has crap for business there so no real revenue.

So, unless one knows/believes something is coming that will pay a bunch of school funding, the whole discussion is make believe.

Something is better than nothing.

 

This is the leading story on Breitbart.

Open borders bill becomes law.

https://www.breitbart.com


and you talk about tedious.

 

I think you are overlooking the amount of additional taxes this will create in that location …. Remember NY has a state income tax.

All those individuals hired by Company X will pay those income taxes.

All those people who build the facilities will pay income taxes.

All those start ups that open as a result of these people with money to spend …. paying taxes.


Its not perfect but its a way for municipalities to entice companies to them and in the long run its a net positive for the city , its citizens and the company. The people get jobs , the city gets tax dollars they wouldn't otherwise get and the company saves on initial start up / building costs.

 

Yes, I posted that in another post. I take the headline to mean that even Breitbart is disappointed in the Mighty God Emperor.

 

Right but that won’t necessarily trickled back down to Long Island City. It’s like the Louisiana video posted earlier... the communities most impacted by a new corporation/industrial receive the least of the tax revenue.

Where’s the line on corporate welfare?

 

so why do you believe this deal was gonna pay a bunch of school funding?

Why is the 25'000 jobs and a bunch of school funding not make believe.

I don't really know all of the pro's and con's but I do know these promises of jobs and tax revenue are seldom kept.

case in point Foxconn in Wisconsin.

 

How is outright lying in a headline construed as disappointment?

How can you ever question credibility of a news source when your go to source pedals stuff like that?

 

Not always, see Louisana. It was poor before and even poorer afterwards when you look at the big picture. Sometimes when you race to the bottom, you hit bottom. Although NYC is different than Louisiana.

The worse thing of all, corporations have repeatedly not met the job creation requirements but taxpayers are still on the hook.

As long as we allow corporations to play us against each other, it will happen.

 

To be clear, the net benefit to NYC and LIC would be greater in this instance compared to some small town. Where’s the line though?

I just view many of the ills of the US that Trump railed against in 2016 to be from the consequences of capitalism not foreigners taking advantage of us. Corporate welfare is just another instance of the above.

 

Eh, it's pretty useless to go back and forth with you on this stuff.

Nevertheless (sigh)......you say the headline is a "lie." I'd say it's a question of interpretation.

And, it should be noted, those who continually say "Trump lies all the time" use this technique.

The wall supporters are pretty disappointed with Trump's caving into the Dems and RINOs. Thus the headline.

Breitbart gets my respect because they are willing to take on viewpoints that no one else in the MSM/blue pill matrix even dares to address.

 

Lol “Blue Pill Matrix”. I love how you and your ilk have created your own vocabulary to describe your journey of self discovery and self actualization.

I’m pretty sure InfoWars has/had a share of crazy town with Breitbart.

 

https://www.nytimes.com/2019/02/14/opinion/amazon-new-york.html

The New York Times editorial board weighs in, Blasts progressive "elected officials".

 

I don't KNOW any of it. Neither do you, I presume. But, we are hearing that it was expected to bring 25,000 jobs. That's something. It was expected to revitalize the area. That's something. And if it did

 

It would likely lead to more school funding from those benefits even if Amazon was freed under the deal prom paying any taxes that go to school funding. Was it? Do you know?

The fact is we are all reading the same articles and none of us KNOW how the next 25 years would have turned out.

But, rather than simply saying Foxconn, and assuming all such deals are bad (despite their prevalance in NY and elsewhere), I'm going to place my faith in the folks who studied it, competed for it and put the deal together rather than some politico's who appeared to pile on against their contituients' wishes for what they appeared to hope would be politicall credit.

You want to blindly assume it would not have been a good deal, great. Probably as legitimate as me relying on the articles to tell me the politicians overplayed their hand.