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  1. 02-16-2019, 01:14 PM #1
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    The Twisted Economic Logic Of The Democrat New Breed

    Alexandria Ocasio-Cortez (AOC) is crowing about her spectacular success in thwarting a move by Amazon to locate part of its corporate offices in the NYC area adjacent to her congressional district. The planned move was slated to accommodate ~25,000 employees at an average salary of $150,000 each producing anticipated New York tax revenue therefrom @$27,000,000,000 over the next 20 years or ~$1.35B/yr. To lure Amazon to the environs, New York promised a one-time $3B tax break to Amazon.

    AOC proceeded to brag that her (she takes full credit) success in staving off the rapacious corporate giant has “saved” New Yorkers $3B, which it can now spend better on the poor and disadvantaged. Despite having an economics degree from Boston College she obviously has no clue that New York was paying nothing and therefore saved nothing and, instead, is now forced to forgo the anticipated adittional $24,000,000,000 ($27B - $3B = $24B) it would have collected, not including the massive ancillary spending benefits of salaried citizens in the area plus contractors servicing the facility. The depths of her ignorance has reached the point she thinks not giving a tax break translates into making money she and her ilk can spend!

    Can anything serve better to illustrate the economic stupidity of the new generation of leftist nitwits who are driving the Democrat Party to its promised land? It’s so stupid even Cuomo & deBlasio understand how ignorant these people are.
    ...............
    “You can vote your way into socialism, but you have to shoot your way out.” — Too fundamental to have an attribution

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  2. 02-16-2019, 01:54 PM #2
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    It's a damn good thing you are a lawyer, cause your math sucks!

    If you want to give it an honest look, NYC wage tax is 3.8% if you live in NYC. NY State income tax is 6.28% if you live in NY State. That is part of the reason why I have to fight all the rest of the commuters

    ....and NO I am not defending the Bronx bimbo!
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
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  3. 02-16-2019, 03:04 PM #3
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    Not my math, but the math of Coumo’s minions, my friend. What I heard and repeated was a bit wrong though, as the $27B tax revenue for New York is projected over 25 years instead of the 20 years I misremembered. You can adjust from there, but nothing in calculations changes that you can’t spend tax breaks you don’t give to companies not paying them because they are not opening the new facility.

    https://www.businessinsider.com/amaz...ue-loss-2019-2

    An article from Dave’s god might be fun to read though in which it is explain much of the local hate toward Amazon is traced to the compan’s resistance to cherished unionization —

    https://www.nytimes.com/2019/02/14/n...q2-queens.html

    ...Over time, opposition to Amazon had spread from the specifics of the deal to the company’s corporate practices. Elected officials and activists in New York drew attention to the company’s anti-union stance and its work with federal immigration officials — positions unpopular with Democratic leaders across the country...
    The ever fair minded publication termed Amazon in its article, “voracious.”

    Penny wise, pound foolish with a bit of spite thrown in for good measure...not that I’m opposed to a good kick in Besos’ ribs now and then.
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  4. 02-16-2019, 03:16 PM #4
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    I guess if the NYT is my "god" it would follow that the Guardian must be yours.

    The math still is wrong.

    Just for giggles---this entire scheme is neither new or unusual--it goes on all the time. The sad reality is that if anyone ever does an audit at 5 years or 10 years I never see a word about it. Just as demonstrated here, fake news can be generated by anyone---including politicians--and unless someone is checking they get away with it.

    In my opinion these schemes are no more than smoke and mirrors.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis
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  5. 02-16-2019, 04:06 PM #5
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    A bit to oblique for me to follow. If you have better estimations than the government actuaries, maybe you will share.
    We can agree that many of these projections of viability are bogus, as nearly all those for green projects have shown, but I think there is reason to believe the future of Amazon is a bit more secure.
    ...............
    “You can vote your way into socialism, but you have to shoot your way out.” — Too fundamental to have an attribution

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  6. 02-17-2019, 08:39 AM #6
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    At $1.35 B/yr from 25,000 employees that would be an average of $54,000 in tax/per employee.

    As stated non-residents don't pay the NYC wage tax. Residents are taxed at a rate of 3.8%, thus for the average salary of $150,000 NYC collects $5,700.00----what am I missing?
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis
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