Amazon HQ2 pullout
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Amazon wanted to put a HQ in Queens, NY and trade $27B in new tax revenues for $3B in tax breaks (at the cities suggestion). But the NYC snowflakes (like AOC) threw enough of a stink that Amazon decided to go somewhere else: Social Justice Victory: now New York loses these jobs / tax revenue to somewhere else. Woot!
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There's so much dumb:
- The really stupid claim that now that they're not subsidizing Amazon, they can spend the $3B on something else. Head-slapping stupid, as they weren't paying Amazon $3B, they were just weren't going to charge them $3B in punitive taxes for the privilege of creating those jobs.
- The illiteratti keeps pretending that not paying one kind of tax, means that they're not paying taxes - this kind of leftist stupidity requires a complete lack of business acumen. For every employee they hire, they pay payroll taxes. Those people pay property taxes, income taxes, and a bazillion other taxes. What they buy and sell: sales taxes. And so on. They would bring millions (or even billions) to the city/state in the form of indirect taxes, even if they don't pay a cent in business/property taxes.
There are valid complaints -- like it's unfair to tax big business less than little businesses. But I think of it as volume discounts for big labor. If you bring a lot of jobs, we'll give you a little break, to offset the huge risk and costs by moving to their community. So while I think it would be better if they gave those breaks fairly (to everyone that comes in), it's better that some get it than none.
So this is a strong life lesson for the locals. And I take some schadefraude from that under the hopes that if they wouldn't learn from others warnings, that at least now they can learn from their own mistakes. But if progressives could learn, they wouldn't be progressives. And Amazon dodged a bullet. Once they were located in NY, the politicians would have incrementally raised taxes on them and their employees until they regretted it. Just ask the millions that have left the state, or the millions stuck there, counting the days until they can leave too.
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