Stop crony capitalism.
This is GREAT NEWS . . . for Virginia’s Dimocrats.
Know what? I love it when liberals are packed in to one already deep blue state. It’s a win any time liberals coagulate into one voting district.
My condolences to those upstate and on LI.
From last year....
Amazon:
NEW YORK FAKE MEDIA OFFICE
D.C. DEEP STATE OFFICE
That Bezos is getting as good as Elon Musk at getting politicians to give him taxpayer money to fund his various schemes.
“I’m from the government and I’m here to help”
“Have you seen the bigger piggies
In their starched white shirts..”
Only the little people pay taxes.
Leona Helmsley
An average wage of over $150,000. I don’t think many or any of these are warehouse jobs, maybe more programming and high level IT for government contracts?
Crystal City has offices full of well paid professionals now. Including my son. His company will loose their lease and be forced to move elsewhere.
His building will have no net gains unless they tear it down.
Another fake news headline. Mostly this is a contract that allows Amazon to keep more of the money it makes over the next ten years if they meet the conditions of the contract.
Well the NY taxpayers are the one who voted the corrupt jackasses that made these bad decisions into power so as far as I’m concerned they deserve to get plundered.
Is that “net” or “gross”, or some other “journalistic math”.
In the end, will NY have higher or lower revenue (taxes-expenses) with Amazon’s 25k workers paying income tax vs Amazon going somewhere else?
I’d bet Virginia and Tennessee have lower personal income tax rates (I may be wrong). 25k NY workers will be paying income taxes on an average of $150k salary. Did amazon have to jack up average NY salary to $150k in NY but not in the other states to cover a higher city and state tax rate? If so, a higher deduction in corporate taxes wouldn’t be unreasonable.
The way the left calls “missed revenus” a “cost” is disgusting. It may be accurate here and I don’t know all the details of the calculations, but the “cost” of Amazon going to NY is even bigger for Texas, and Georgia and any other state Amazon is not putting HQ2 in - those states “could have” received taxes from 25k workers making $150k/year and that’s a huge “cost”.
Just as I said in my other post. Instead of bribing them, lower taxes all around, and you’ll have more jobs.
But that doesn’t allow the politicians to say that they are “creating” jobs.
The current practice is fake phony fraud.
I thought liberals loved taxes.
Enjoy the suck New York!
over 10 years?
So roughly $4800 per year?
At 3.876%, that'd mean it'd equal out at $123k of taxable income if it only meant vs. City taxes. Or $50.5k if including the state taxes.
Bad premise to give special breaks, but that's not their argument at all.
The city and state ponied up nearly $3 billion in grants, credits and so on over 25 years.
https://nypost.com/2018/11/13/the-amazon-deal-is-no-win-for-new-yorkers/