$50mm/yr vs 25,000 jobs paying an average of $150k/yr for a total of $3.75bn of taxable income.
At New York State's lowest tax bracket of 4%, that's $150mm. At New York State's highest tax bracket of 8.84%, that's over $330mm.
No.
No giveaways like this. None. Zero. If Amazon wants welfare for jobs, then tell them to screw off and let another company come in that will employ people without handouts.
So if you want companies to come in without tax incentives, you probably need to go to your congresspeople and get that program turned off.
Also you could restrict the programs a whole lot more, even if you think they should keep existing.
But no one in here is making a strong argument for it either way, and neither are you.
People can say that Amazon has to go somewhere regardless, so everyone should band together and say no subsidies are ignoring the fact that the subsidies might be what makes it economically possible for Amazon to create these jobs in the first place. Maybe the government gives Amazon $5, they turn it into $30, and Amazon pays the government back $7.50. Or the sum of the economic development in the area results in the government getting back $7.50 for the $5 they spent. And by give, I mean 'Doesn't charge Amazon for come tax season'.
Or maybe the government doesn't give Amazon anything, and Amazon or the sum of economic activity still means the government gets $7.50, and they net the whole amount instead of $2.50.
I don't know, I'm not an economist or versed enough in the specifics here to have any real idea. But either option is possible, as well as a broad variety of others, but the a significant portion of arguments in here seem to be 'Businesses should never get subsidies because I don't think they should/Bezos is the richest man in the world he can pay for stuff" or "lol the stupid liberals shot themselves in the foot."
While some people understood what was happening, most opposition intentionally confused onlookers.
And even with the misinformation, the deal was still popular, particularly among Queens residents & PoC.
If the government gives me a 25k deduction on my taxes, does that not end up as money in my pocket?
I don't understand why this is different for Amazon? How is being able to do business without paying the associated taxes not a giveaway?
I'd imagine though, only US revenue gets claimed in CA.
EDIT: Congressperson for an adjacent area, not for that area.
She also had very little to nothing to do with the decision, but again, you wouldn't know that from watching the conservative commentary.
I'm smart and don't understand districting.
> "We were subsidizing those jobs. The city was paying for those jobs. So frankly, if we're willing to give away away $3 billion for this deal, we could invest $3 billion in our district ourselves if we want to. We could hire out more teachers, we can fix our subways, we can put a lot of people to work for that money if we wanted to."
https://www.nbcnews.com/video/alexandria-ocasio-cortez-react...