And this is how I’m looking at it. We will attract your jobs, and what taxes you will still have to pay, by letting you keep more of your own fruit. Versus, we would rather do without.
What am I missing?
Then again, doesn’t that attitude further stack the deck against local businesses, and new entries into the market?
Picking winners? The big guys already on top of their market, usually.
Long-term it’s very good math. Short term <10years it’s gonna be a cluster fuck haha
No way infrastructure is ready or can be updated in short order. And the whole general area will change dramatically with every current home and business renter and being priced out, etc. Gonna be sad from a local people perspective most likely.
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Many people don’t believe in the government picking winners and losers as a concept. Not sure if that procludes them from appreciating people will be employed (in the vast majority, low paying jobs)
You know for a fact that’s not the position of Cortez and allies. They are just fine picking winners and losers when it suits them (unions, green businesses, 70k page tax code with exemptions and subsidies).
That’s an antiquated sentiment that some elected Republicans pay lip service to, but never actually use as a decision rule. Republicans are 100% irrelevant in NYC politics anyway.
So the question becomes: Are the tax breaks a good “investment” for the City? Does the amount of future payroll, corporate taxes, school taxes, and local economic growth and increase in property values/taxes represent a return for the City?
It still sickens me to refer to a tax break (letting people keep their own damn money) as an “investment” by the government. As if you’re a surf and they have a claim on all of your production before you earn it. They’re showing benevolent central planning by allowing you more of your own sheckles. But then I’m one of those antiquated, irrelevant in NYC types.
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Speaking of Stupid. Cortez took a break from thinking she’ll be “signing bills” and “getting inaugurated” by joining a protest outside Nancy Pelosi’s office. Guess who’s not getting a committee position, ever?
Alright, revolution’s over. Time for the People’s Liberation Army to reign in the Red Guards again. Dumb kids.
/joke
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I’m fully aware that’s not her position. But plenty of people aren’t socialists.
I’m aware of the rationale of a pragmatic socialist. I just disagree it should even exist. I’m not in favor of corporate welfare personally.
Same, I would never call it that
I don’t consider property tax breaks and cash to support capital projects picking winners and losers.
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Getting to keep more of your income instead of forking it over in the form of property taxes isn’t corporate welfare and it’s the opposite of socialism.
Are the surrounding businesses receiving the same tax breaks? Is the govt putting a massive company (that already has a huge comparative advantage) in an even stronger financial position that allows them to continue to dump on small businesses?
See above
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Many of them more than likely did when they located their business to NYC. Every municipality does this. We just built a 100k square foot addition in rural MD and we got a property tax break if we maintain a certain level of employment, which is basically what is happening with Amazon.
No, they’re not. The government of New York is saying, we’d like those 25k jobs. We’ll pay for a fraction of the infrastructure costs and give you a break on your property taxes for a few years if you come here instead of elsewhere.
Keeping income as opposed to paying taxes is literally the opposite of socialism.
OOOOR my next country treasurer .. still waiting on the results…
I see one - in one scenario, more taxes have to be collected or diverted to subsidize the company - in the other one taxes are deferred to be realized in the perceived added economic activity at a later date ..
I agree with this .. however I think it’s funny you added the “It will also bring a lot of positives” as if it’s an after thought and didn’t bother to list any of the potential improvements to the area…
One of AOC gripes is the area needs to invest in infrastructure and could use the tax money from the tax breaks .. she’s being shortsighted or playing politics in that these issues will be addressed and improved by virtue of “Adding 20,000 new, well-to-do people to a small area in less than 10 years” - her worldview would keep the area poor and depressed.
I know you’re not arguing for or against her argument - just wanted to point this out.
meh, they now have a healthier cash flow for investments, etc…
I get AOCs argument but she’s being political and shortsighted…
I’m not sure about this - I think she understands but is power hungry and thinks she can “solve all of the ills” .. unintended consequences abound…
the market area in question (Long Island City) to my knowledge doesn’t have many new entries to speak of
I’d say it won’t be updated in long order either .. that area is a clustefuck of political gridlock .. Not sure what their plans are to update the infrastructure but I’d wager it exceeds budget by about the same amount Boston’s Big Dig did just given what I think I know about the political and labor landscape…and your <10 year horizon, imo, is optimistic at best unless Amazon gets directly involved (i.e. privatizes it) - if they leave it to city/municipal leaders it’ll get stalled multiple times…
Not sure if that’s a good or bad thing .. I’d love to hear her hot takes on w/e issue she’s stumping for/against .. she’s a wealth of gaffs .. I get a chuckle from her quite a bit
hahahahahaha .. great oxymoron .. I love it .. I’m slapping this on fuckin t-shirts and selling it at the next Bernie rally .. those fuckin idiots’ll buy that shit for $35 a t .. shit, I can even turn it around and sell them again at a Free Speech rally .. they’ll see it as ironic .. I can tap a few different markets with that one ..
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Part of the deal is 25k jobs with an average salary of $150k
Meh, we’ll see.
Maybe more on topic… is this assault or not? I think it is… and he should face criminal charged and be indicted.
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On that note… I have to go count assets and wash my mind with bleach.
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I would be interested to see anything on this. It’s my understanding that the vast majority of small/medium size businesses don’t employ enough people to pull that kind of govt power.
Tomato tomato. I’m more than willing to agree to disagree here. I’m aware both sides pick winners and losers on a daily basis, I’m just not a fan.
Fair point. Picking winners is strictly a social concept though
Can you explain the practical difference to the company from this? Or the govt?
I’m aware. They were given 10 years to reach that 150 average (not median, which was on purpose).
Getting to 150 after 10 years in NYC actually isn’t impressive. Also, the vast majority of the jobs they bring will be significantly lower than that.
Either that, or Amazon plans to ~quadruple their average pay for the NYC site. Which would be amazing. Hope I’m wrong
On the flip side … I can totally see her not knowing shit about shit … I was rewatching some of her interview on Firing Line … it is surprising, based off of that, that she doesn’t need a reminder to breath
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