Amazon & NY- should we subsidize corporations to move?

[folken]

So Amazon is not moving into NY after all.
Held a huge media frenzy to setup shop and give 50,000 jobs BUT;

and big but it is- wanted cities to bid and some bid 3Billion in tax cuts or incentives to Hey come here!! 

Should the taxpayers be subsidizing corporations to setup shop in their city town???



Folken

[Laxfinity]

Unfortunately.. this is what transpires. The South East gives the movie companies HUGE incentives to come here and film. They also do nto pass bills to make them mad....

I believe I also heard that NY was pushing to unionize the workers....

[folken]

" Amazon's hard barraging extends far beyond New York

When Texas officials pushed Amazon to pay nearly $270 million in back sales taxes in 2010, Amazon responded by closing its only warehouse in the state and scrapping expansion plans there. Two years later, the officials agreed to waive the past taxes in exchange for Amazon opening new warehouses. "


Is this the way we want to finance our cities/jobs/schools/roads/healthcare ???

Big Tech & Big Business given Big tax payer dollars...………………. cities clamoring to give them their hard earned tax payer money...………..

GM bailed out only to close plants in Michigan & Ohio...……….& increase production in Mexico...………...

Business survive on their business plan, not my cash please & thanks...………...


Folken

[FootballKing]

" Amazon's hard barraging extends far beyond New York

When Texas officials pushed Amazon to pay nearly $270 million in back sales taxes in 2010, Amazon responded by closing its only warehouse in the state and scrapping expansion plans there. Two years later, the officials agreed to waive the past taxes in exchange for Amazon opening new warehouses. "


Is this the way we want to finance our cities/jobs/schools/roads/healthcare ???

Big Tech & Big Business given Big tax payer dollars...………………. cities clamoring to give them their hard earned tax payer money...………..

GM bailed out only to close plants in Michigan & Ohio...……….& increase production in Mexico...………...

Business survive on their business plan, not my cash please & thanks...………...


Folken

I feel you're talking about 2 things now.. IMO, large companies should receive incentives.  These incentives are in investment.  Job creation and tax revenue are the return on that investment.  Amazon in NY was expected to generate $28 billion in tax revenue.

You mention GM getting bailed out.  I think bailouts are ridiculous and completely against what America is.  All those banks and car companies should have been required to file bankruptcy.

[folken]

Sorry Football- but I disagree.

You propose that..." IMO, large companies should receive incentives.  These incentives are in investment.  Job creation and tax revenue are the return on that investment.  Amazon in NY was expected to generate $28 billion in tax revenue."

At the same time you are against bailouts.

I happen to believe that companies are in business to make money, make decisions based on return of capital, and should not receive any money from taxpayers- be it bailouts or incentives.

GM was bailed out because..  it was seen as an investment ......."These incentives are in investment.  Job creation and tax revenue are the return on that investment."

Now we see that the company will do what it sees fit, regardless of taxpayers/employees.

I think Amazon would invest the same money, regardless of incentives, because it would make business sense.

Once you start down the incentive/bailout road, then you are subsidizing Big business with taxpayer money with no guarantee of return.

Businesses already are 'incentized' by being taxed at only 21%, and provided with numerous tax deductions, capital right offs, etc.

Enough!! Food stamps for Big Business............ be it bailouts or incentives.

JMHO as always.........................have a good one folks------if you chose too that is.....

Folken

[folken]

"General Motors Co said the last Chevrolet Cruze rolled off the assembly line Wednesday afternoon at its Lordstown, Ohio, assembly plant, the first of five plants in North America to end production this year and ending U.S. production of the Cruze. "

GM will build the Cruze where?...…..<<< name escapes me for some reason >>

MEXICO!!!



JMO...…………….Folken


ps       …"Separately, the UAW and the Communication Workers of America union sent a letter this week to the House of Representatives Ways and Means Committee asking it to investigate significant corporate tax cuts received by GM and AT&T Inc even as they cut thousands of union jobs.

The letter said there is "no evidence to date that the corporate tax cuts have encouraged GM to bring back any production from Mexico to the U.S." "

<< Your tax dollars to Big business, so they make business decisions to move production...…….yup...….welcome to Big Boy pants world...……… >>

[FootballKing]

Sorry Football- but I disagree.

You propose that..." IMO, large companies should receive incentives.  These incentives are in investment.  Job creation and tax revenue are the return on that investment.  Amazon in NY was expected to generate $28 billion in tax revenue."

At the same time you are against bailouts.

I happen to believe that companies are in business to make money, make decisions based on return of capital,  and should not receive any money from taxpayers- be it bailouts or incentives.

GM was bailed out because..  it was seen as an investment ......."These incentives are in investment.  Job creation and tax revenue are the return on that investment."

Now we see that the company will do what it sees fit, regardless of taxpayers/employees.

I think Amazon would invest the same money, regardless of incentives, because it would make business sense.

Once you start down the incentive/bailout road, then you are subsidizing Big business with taxpayer money with no guarantee of return.

Businesses already are 'incentized' by being taxed at only 21%, and provided with numerous tax deductions, capital right offs, etc.

Enough!! Food stamps for Big Business............ be it bailouts or incentives.

JMHO as always.........................have a good one folks------if you chose too that is.....

Folken

Now we're talking federal tax money vs state tax money.  To clarify, federal money should not be used to help companies beyond the federal tax incentives.  Low federal taxes are necessary to keep business in the country.  They will just go to another country otherwise.  A bailout is federal money and borderline an act of socialism.  It was basically the US Gov taking a piece of those companies for a time.  I'm more so talking about states giving incentives..

There is a reason states fight and fight, offer very lucrative terms to get a business to open shop in their state.  Job creation and economic infusion.  This is at a state level.  I work indirectly with a company right now that pays no state tax on their purchases because they opened a very large office with a broad range of employment types.  Low to mid level jobs to high end jobs (executive, technical and finance jobs).  Something around 3000 new jobs.  Also there was the incentive of all the jobs added in construction to build the brand new 10 story building, rejuvenating that business park as well.  All those employees still paid and are paying state income tax and spending money locally.  More than makes up for the company's state tax exemption status.  The entire area has also grown very much in the retail, restaurant, and housing areas due to the influx of new cash flowing into the economy from the new employees and construction projections.