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/----/ Tariffs are a bad idea, that is why Trump wants to stop the Chinks from slapping them on our products. Notice our tariffs on their crap is very low and theirs on our stuff is very high? Why are you confused?First, nobody who thinks tariffs are a good idea has a leg to stand on criticising anyone else's understanding of economics, and don't even get me started on the trickle down myth.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
It was a bad deal. You can't buy jobs, just like you can't spend your way outta debt.
/---/ Then why did Fredo Cuomo and DiBlasio offer a reduction in taxes, 3 Billion in exchange for 25 billion? Why Spanky, why?These deals always hose the taxpayer. Tell me, when did you become a socialist?/——/ Thanks to AOC, Queens gets zip zilch nada. Is that better than $25 Billion? Idiot socialists.Do you trust politicians so much you want them making deals like this? The same politicians who have put us $22 trillion in debt? Oh the right is so funny. Not so much for that small government thing anymore eh? Well you threw away the fiscally responsible thing, mine as well throw away capitalism too./——/ NYC was competing for the HQ you blithering idiot.Sounds like they don’t need special tax breaks.Blows my mind how many people seem to have no clue what Amazon actually is.
It's not just some warehouse company delivering packages.
Amazon is a tech giant.
They're huge in ecommerce, cloud computing and have an increasing presence in the entertainment space. They just invested 700 million in a startup to compete with Tesla. They've got their fingers in all kinds of shit.
These weren't warehouse jobs these stupid fuckers chased out if town, they were skilled, good paying jobs of the new economy.
View attachment 247300
/----/ So what "small" businesses are going to move to Queens and generate 25 billion over the next 25 years and create 25,000 jobs? And do so with zero incentives?Now suppose you are a trucking company. Your a small trucking company so you get no deal. Now suppose the big trucking company you compete with gets a great deal. Now they run you out of business. The government shouldn't be picking winners and losers.Sounded like cash payments to me.No shit, Dick Tracy.....True as that is, there's still no $3 billion for the economic nitwit AOC to redistribute to the sainted pooooooor.....That is the reason that she stated for opposing the deal.Government making special deals with private business is not capitalism. Cronyism.
Let's pretend you own a toll road and you charge $10 to cross. Now let's say I come along and say "I need to cross 8 times a day 5 days a week over 5 years. At the regular rate you charge that would cost me $80 a day 5 days a week 52 weeks out of the year for 5 years or $20,800 a year for 5 years.
Now let's suppose I say to you. I will make a deal with you, I'll use your road guaranteed 8 times a day , 5 days a week for 5 years , at $7 a pop for 5 years . Or $14,560 a year for 5 years. If you take that deal , are you out $6K a year in cash?
I'm pretty sure that "Fredo Cuomo" is the hapless dolt on CNN./---/ Then why did Fredo Cuomo and DiBlasio offer a reduction in taxes, 3 Billion in exchange for 25 billion? Why Spanky, why?
/---/ Could be but I meant our esteemed Govoner of NYI'm pretty sure that "Fredo Cuomo" is the hapless dolt on CNN./---/ Then why did Fredo Cuomo and DiBlasio offer a reduction in taxes, 3 Billion in exchange for 25 billion? Why Spanky, why?
The Paul family could.I don't see anyone in Congress that could actually pass economics 101 and have the ability to apply it in real terms to the govt.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
This reminds me of the Standard Oil Trust.
Rockefeller made backdoor deals with the railroads. In the public view, Standard Oil was paying the same freight rates as every other oil company. But in reality, Rockefeller was getting a kickback from the railroad. This meant he was actually paying less for transportation.
This enabled Rockefeller to lower his oil prices below what his competitors could and thus run them out of business.
Amazon was going to receive a massive $3 billion kickback from New York which would put them at a competitive advantage over their smaller competitors.
It's bullshit.
Total. Bullshit.
First, nobody who thinks tariffs are a good idea has a leg to stand on criticising anyone else's understanding of economics, and don't even get me started on the trickle down myth.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
It was a bad deal. You can't buy jobs, just like you can't spend your way outta debt.
You tell me.First, nobody who thinks tariffs are a good idea has a leg to stand on criticising anyone else's understanding of economics, and don't even get me started on the trickle down myth.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
It was a bad deal. You can't buy jobs, just like you can't spend your way outta debt.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
$3 billion out of how many billions in revenue?
You tell me.First, nobody who thinks tariffs are a good idea has a leg to stand on criticising anyone else's understanding of economics, and don't even get me started on the trickle down myth.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
It was a bad deal. You can't buy jobs, just like you can't spend your way outta debt.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
$3 billion out of how many billions in revenue?
First, nobody who thinks tariffs are a good idea has a leg to stand on criticising anyone else's understanding of economics, and don't even get me started on the trickle down myth.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
It was a bad deal. You can't buy jobs, just like you can't spend your way outta debt.
They displace other taxed revenues, too. Everytime you hear some massive conglomerate isnt paying tax, that represents untaxed market share. An interesting number I saw recently was that corporate tax as a percentage of all tax has gone down by double digits in percentile over the past few decades. Sorry I dont have specifics on hand. It could mean a lot of things. My guess is that these mega conglomerates displace and eliminate that tax revenue. Maybe that's not a bad thing. Maybe it's a sign the tax code needs reform...even after the GOP tax and ""job"" bill.Amazon would have been exempted from $3 billion in taxes.
How long would it take for 25,000 low paid workers to make up the difference from their income taxes?
A loooooooong time.
Tax expenditures are a fucking disaster for this country. They are costing the federal government $1.4 trillion a year. This results in higher federal tax rates and massive deficits.
It's tards like you, easyt, who are idiots when it comes to economics.
/——/ Corporations pass taxes on to the consumer you moron.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.The subsidies to Amazon were more corporate welfare to a corporation that paid zero$ income tax.No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
Corporations and their shareholders have enough wealth:
McKinney: Amazon to NYC was a bad deal; CT shouldn't try to follow suit
"I believe the decision by Amazon to withdraw from the deal is ultimately the right outcome, even it was for the wrong reasons.
"It is time for public-sector leaders to stop throwing money at large private corporations to attract them, or to retain them in their jurisdictions.
"Surrendering taxpayer funds to billion-dollar corporations is toxic.
"Within minutes of Amazon's decision, governors and mayors from around the nation, including Gov. Ned Lamont, have publicly invited Amazon to consider taking their money to open-up shop in their markets.
"It was bad policy in New York City, and it is bad policy everywhere.
"This type of competition among states and cities results in one clear and permanent winner -- the corporation and its shareholders."
And who are the winners now? Amazon and its shareholders are going to continue being rich no matter how nasty and resentful a bunch of no-dog-in-the-fight leftist elites bitch and scream about "toxic", and cheer when they fend off those "eeeeevil" corporations from their town. So Amazon and its shareholders are winners no matter what; Occasional Cortex and her out-of-touch, out-of-their-minds cohort politicians are winners, because they get fawning media attention like this.
I'll be damned if I see anyone else who has won or achieved anything through this.
It's easy to shout, "Bad policy! Take the high road!" when you already have a cushy job writing columns that pretend you have something to say; not so much when you actually need to apply for a job and work for a living.Someone has to stop the "race to the bottom" that enriches parasites like Bezos at the expense of productive workers; the next step is to expand the procedure nationwide, as one of the local politicians who stood up to corporate greed in New York points out:And who are the winners now? Amazon and its shareholders are going to continue being rich no matter how nasty and resentful a bunch of no-dog-in-the-fight leftist elites bitch and scream about "toxic", and cheer when they fend off those "eeeeevil" corporations from their town
https://www.buzzfeednews.com/article/ronkim/end-the-corporate-subsidy-cage-match
"I propose a more cooperative approach.
"Earlier this month, I introduced legislation in the New York State legislature called the End of Corporate Welfare Act, which would create an inter-state compact that eliminates the practice of giving taxpayer subsidies to individual companies.
"I also started reaching out to legislators outside of New York to persuade them to do the same.
"So far, lawmakers in Illinois, Arizona, Florida, Connecticut and North Dakota have either followed suit or are willing to do so.
"And this is just the beginning.
"For decades, New York and other states have engaged in an economic cage match to see who can offer the most lavish welfare packages to multinational corporations that announce plans to move locations, build new headquarters, or expand operations."
"Corporate executives simply sit back and wait as different locales jostle to make the best offer.
"What transpires is a harmful, zero-sum competition to bundle commercial property tax abatements with an alphabet soup of tax credits and handouts."
Btw, trillion dollar corporations that pay no federal income tax are "eeeeevil."
Corporations would not even exist without their government charter./——/ Corporations pass taxes on to the consumer you moron.
The Paul family could.
/——-/ Nice attempt to dodge the question and change the subject. I repeat, corporations pass taxes onto the consumer ——in the form of higher prices./——/ Corporations pass taxes on to the consumer you moron.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.The subsidies to Amazon were more corporate welfare to a corporation that paid zero$ income tax.No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
Corporations and their shareholders have enough wealth:
McKinney: Amazon to NYC was a bad deal; CT shouldn't try to follow suit
"I believe the decision by Amazon to withdraw from the deal is ultimately the right outcome, even it was for the wrong reasons.
"It is time for public-sector leaders to stop throwing money at large private corporations to attract them, or to retain them in their jurisdictions.
"Surrendering taxpayer funds to billion-dollar corporations is toxic.
"Within minutes of Amazon's decision, governors and mayors from around the nation, including Gov. Ned Lamont, have publicly invited Amazon to consider taking their money to open-up shop in their markets.
"It was bad policy in New York City, and it is bad policy everywhere.
"This type of competition among states and cities results in one clear and permanent winner -- the corporation and its shareholders."
And who are the winners now? Amazon and its shareholders are going to continue being rich no matter how nasty and resentful a bunch of no-dog-in-the-fight leftist elites bitch and scream about "toxic", and cheer when they fend off those "eeeeevil" corporations from their town. So Amazon and its shareholders are winners no matter what; Occasional Cortex and her out-of-touch, out-of-their-minds cohort politicians are winners, because they get fawning media attention like this.
I'll be damned if I see anyone else who has won or achieved anything through this.
It's easy to shout, "Bad policy! Take the high road!" when you already have a cushy job writing columns that pretend you have something to say; not so much when you actually need to apply for a job and work for a living.Someone has to stop the "race to the bottom" that enriches parasites like Bezos at the expense of productive workers; the next step is to expand the procedure nationwide, as one of the local politicians who stood up to corporate greed in New York points out:And who are the winners now? Amazon and its shareholders are going to continue being rich no matter how nasty and resentful a bunch of no-dog-in-the-fight leftist elites bitch and scream about "toxic", and cheer when they fend off those "eeeeevil" corporations from their town
https://www.buzzfeednews.com/article/ronkim/end-the-corporate-subsidy-cage-match
"I propose a more cooperative approach.
"Earlier this month, I introduced legislation in the New York State legislature called the End of Corporate Welfare Act, which would create an inter-state compact that eliminates the practice of giving taxpayer subsidies to individual companies.
"I also started reaching out to legislators outside of New York to persuade them to do the same.
"So far, lawmakers in Illinois, Arizona, Florida, Connecticut and North Dakota have either followed suit or are willing to do so.
"And this is just the beginning.
"For decades, New York and other states have engaged in an economic cage match to see who can offer the most lavish welfare packages to multinational corporations that announce plans to move locations, build new headquarters, or expand operations."
"Corporate executives simply sit back and wait as different locales jostle to make the best offer.
"What transpires is a harmful, zero-sum competition to bundle commercial property tax abatements with an alphabet soup of tax credits and handouts."
Btw, trillion dollar corporations that pay no federal income tax are "eeeeevil."Corporations would not even exist without their government charter./——/ Corporations pass taxes on to the consumer you moron.
Corporations use the courts far more than the average individual; they should pay the cost for that privilege.
Transnational corporation rely on the US Navy to protect their sham "free trade" economy.
In the 1950s, the corporate income tax was 25% of federal outlay. It is now about 5%. If you compared all corporate income tax paid to all corporate welfare (like Foxconn and Amazon), the aggregate would likely be zero tax paid.
That puts the burden on wage labor, which is exactly what both major political parties have been doing over the last five decades.
Never Trump Establishment Loses Again as MAGA Keeps Rising at Ballot Box | Breitbart
Who got rich from that?
This reminds me of the Standard Oil Trust.
Rockefeller made backdoor deals with the railroads. In the public view, Standard Oil was paying the same freight rates as every other oil company. But in reality, Rockefeller was getting a kickback from the railroad. This meant he was actually paying less for transportation.
This enabled Rockefeller to lower his oil prices below what his competitors could and thus run them out of business.
Amazon was going to receive a massive $3 billion kickback from New York which would put them at a competitive advantage over their smaller competitors.
It's bullshit.
Total. Bullshit.
Amazon is already bullshit. It has been bullshit, and, it is the number one purveyor of the Deep State conspiracy of the fake news and "Russia Collusion" fantasy.
I've already told all my friends and neighbors to boycott them, but, nobody listens.
I am surprised you folks on the left are just now starting to wise up.
You gobble lies that WaPo feeds you like it is the Gospel truth, yet most of it is propaganda is meant to increase the bottom line of Amazon, and the military-industrial-complex, a la the CIA.
Why Amazon's Collaboration With the CIA Is So Ominous -- and Vulnerable | HuffPost
The whole reason it can undercut retail stores, with no shipping costs is because it own nearly a third of web services.
Keyword Research, Competitor Analysis, & Website Ranking | Alexa
For all we know, USMB is using Alexa web services. THEY OWN EVERYTHING, that is how they subsidize consumers products and put everyone out of business. Pretty much the nightmare Walmart was in the nineties.
/——/ What investment? You mean Gov Cuomo was writing Amazon a check for $3 billion? WOWZA I though it was just a reduction in the $28 billion Amazon would pay NY. Silly me.First, nobody who thinks tariffs are a good idea has a leg to stand on criticising anyone else's understanding of economics, and don't even get me started on the trickle down myth.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
It was a bad deal. You can't buy jobs, just like you can't spend your way outta debt.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
$3 billion out of how many billions in revenue?
/——/ Recoup what? Geeeze why are you being obtuse? Or are you just trying to give AOC cover for her major screw up?You tell me.First, nobody who thinks tariffs are a good idea has a leg to stand on criticising anyone else's understanding of economics, and don't even get me started on the trickle down myth.Marc Thiessen: Alexandria Ocasio-Cortez is an economic illiterate -- And that's bad news for America
"The left complains that conservatives are "obsessing" over Alexandria Ocasio-Cortez. Well, there is a reason for that: Ocasio-Cortez is driving the agenda of today's Democratic Party -- and her economic illiteracy is dangerous.
Case in point: Last week, Ocasio-Cortez celebrated the tanking of a deal negotiated by her fellow Democrats in which Amazonpromised to build a new headquarters in Long Island City, New York, right next to her congressional district. Amazon's departure cost the city between 25,000 and 40,000 new jobs. Forget the tech workers whom Amazon would have employed. Gone are all the unionized construction jobs to build the headquarters, as well as thousands of jobs created by all the small businesses -- restaurants, bodegas, dry cleaners and food carts -- that were preparing to open or expand to serve Amazon employees. They are devastated by Amazon's withdrawal.
Ocasio-Cortez was not disturbed at all. "We were subsidizing those jobs," she said. "Frankly, if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district, ourselves, if we wanted to. We could hire out more teachers. We can fix our subways. We can put a lot of people to work for that amount of money if we wanted to."
No, you can't. Ocasio-Cortez does not seem to realize that New York does not have $3 billion in cash sitting around waiting to be spent on her socialist dreams. The subsidies to Amazon were tax incentives, not cash payouts. It is Amazon's money, which New York agreed to make tax-exempt, so the company would invest it in building its new headquarters, hiring new workers and generating tens of billions in new tax revenue."
You can't fix her Socialist type of 'stupid'.
.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
It was a bad deal. You can't buy jobs, just like you can't spend your way outta debt.
Second, NYC was gonna give them $3 billion in tax breaks. It would have taken them many decades to recoup that investment if they ever did.
$3 billion out of how many billions in revenue?
I've heard $24-$27 billion.
How many decades will it take NY to recoup that?
