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NY state tax break is $48k per Amazon HQ job

fox5ny.com

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Re: NY state tax break is $48k per Amazon HQ job

#51

Post by TillE »

cycrutchfield wrote: post #10
metildaa wrote: post #5

Perhaps the citizens should object, I hear one of their congress critters is shitposting on twitter to that end. If the locals don't want their lives upended by gentrification, Berlin has shown a good example of how to block uninvited expansion by tech giants: https://www.bbc.com/news/world-europe-45971538

They elected the people that made that decision. If they don't like it, they can vote them out. Citing an example of some Berliner NIMBYs is not really helping your argument.

Conflating leftist anti-gentrification activists with property owners worried about their property value all under the label "NIMBY"...it's unhelpful in understanding the world.

Re: NY state tax break is $48k per Amazon HQ job

#52

Post by frgtpsswrdlame »

School-Cotton wrote: post #33
metildaa wrote: post #5

Perhaps the citizens should object, I hear one of their congress critters is shitposting on twitter to that end. If the locals don't want their lives upended by gentrification, Berlin has shown a good example of how to block uninvited expansion by tech giants: https://www.bbc.com/news/world-europe-45971538

Isn't freedom great? Berlin can decide it doesn't want tech expansion, and New York can decide it does.

"Berlin" as in the people who lived there decided it did want tech expansion. "New York" as in its politicians dealing in backrooms decided it did want tech expansion. Those are different things.

Re: NY state tax break is $48k per Amazon HQ job

#53

Post by marricks »

rb808 wrote: post #7

This is such a great deal for NYC As the article says, they give up $1.5B over 10 years, but then get "Projected incremental tax revenue of more than $10 billion over 20 years." I dont know where that comes from but the payroll and property taxes paid by 25k employees dwarves the incentives. The most important part is it cements NYC as the main tech center on the East Coast. That is invaluable. EDIT: I wonder if NYC…

Doesn’t NYC have a housing crisis already? I’m not sure they need a worse one coupled with the gentrifying forces of thousands of tech employees moving in.

$1.5 billion in housing or just really anything to help people who already live there is what should happen.

Re: NY state tax break is $48k per Amazon HQ job

#54

Post by rland »

amoitnga wrote: post #6

It implies only negative, doesn't it also has a lot of positive to it, like economic growth?

It seems to me like this is kind of like advertising: it’s a local benefit, but a net loss. Someone, somewhere, is giving a huge amount of money to Amazon. Considering Amazons wealth and power, is this what we should be doing as a society?

In particular, we don’t need to do this. If everyone said “no deal,” Amazon would be forced to behave as anyone else: consider each area based on its true merits, and make a decision accordingly.

In other words, the growth occurs regardless. No gifts needed.

Re: NY state tax break is $48k per Amazon HQ job

#55

Post by gfodor »

No opinion on the actual policy, but it infuriates me when the weasel words "paid for" are used in contexts like this. Giving a company or a person a tax write-off is not a "cost" to taxpayers, unless you assume a) the alternative reality was 100% likely and these exemptions had no effect on the final outcome, which is obviously a positive net revenue expectation, and b) saying tax reductions are a "cost" to tax payers implies the taxman by default has a claim on all income and only by the graciousness of politicians do we earn the right to keep any of it.

Re: NY state tax break is $48k per Amazon HQ job

#56

Post by edoo »

Going to New York is a political move. They could have set up in the midwest, paid everyone 75% as much as the going rate in NY or silicon valley, and the employees would have 50% more expendable income than they are used to. This wasn't for the employees.

Re: NY state tax break is $48k per Amazon HQ job

#57

Post by vdnkh »

giarc wrote: post #17
rb808 wrote: post #7

This is such a great deal for NYC As the article says, they give up $1.5B over 10 years, but then get "Projected incremental tax revenue of more than $10 billion over 20 years." I dont know where that comes from but the payroll and property taxes paid by 25k employees dwarves the incentives. The most important part is it cements NYC as the main tech center on the East Coast. That is invaluable. EDIT: I wonder if NYC…

That $10 billion likely assumes all new staff. There are going to be many current NYC citizens who simply switch jobs to Amazon. Therefore they won't contribute any incremental tax increase. Only if their previous employer rehires their position will a net new position be created.

> There are going to be many current NYC citizens who simply switch jobs to Amazon. Therefore they won't contribute any incremental tax increase.

How about for tech workers to get a raise? Or to move to a different part of the city? And besides, this is just conjecture. Do you have any data or polls or even anecdata which supports your claim?

Re: NY state tax break is $48k per Amazon HQ job

#58

Post by metildaa »

cycrutchfield wrote: post #10
metildaa wrote: post #5

Perhaps the citizens should object, I hear one of their congress critters is shitposting on twitter to that end. If the locals don't want their lives upended by gentrification, Berlin has shown a good example of how to block uninvited expansion by tech giants: https://www.bbc.com/news/world-europe-45971538

They elected the people that made that decision. If they don't like it, they can vote them out. Citing an example of some Berliner NIMBYs is not really helping your argument.

> They elected the people that made that decision. If they don't like it, they can vote them out.

It seems you didn't read my prior comment, some of their elected officials are opposed to Amazon moving in.

> Citing an example of some Berliner NIMBYs is not really helping your argument.

It shows how a community can fight back. Much of the change mega-corps bring to the neighborhoods and cities they set up shop in is not good, current locals definitely have a right to reject.

Re: NY state tax break is $48k per Amazon HQ job

#59

Post by School-Cotton »

snek wrote: post #25

Amazon could have chosen anywhere, somewhere where they could make a difference, create jobs, kick-start the economy. Serious bummer.

Amazon has created a lot of jobs and caused mind-boggling amounts of economic growth in Seattle, but it is very, very unpopular there.

It turns out things are a bit more complicated than "a rising tide lifts all boats". A smaller city than NYC might not have been able to absorb the impact.

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