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“Amazon just took their ball and went home,” New York Mayor Bill de Blasio later pouted. Rate Topic: -----

#1 User is offline   MTP Reggie 

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Posted 22 February 2019 - 08:41 AM

"Amazon just took their ball and went home," New York Mayor Bill de Blasio later pouted.
Feb 20th, 2019
COMMENTARY BY Edwin J. Feulner, Ph.D.
Heritage.org

<More democrat Unintended Consequences Here>

Sweetheart deals for a select few, especially if they adhere to a politically correct agenda, isn't just morally wrong. In the long run, it's a losing strategy. Amazon isn't the only company wary of locating in New York. The sooner you level that field, Mr. Mayor, the better off you'll be. Cut taxes, reduce regulations and do whatever else you can to make your city more attractive.

Getting dumped is never fun, but when it happens on Valentine's Day? That really twists the knife. Case in point: Amazon, which announced on Feb. 14 that it had rejected one of the most ardent suitors for its much-ballyhooed "H2Q" site — New York City. "Amazon just took their ball and went home," New York Mayor Bill de Blasio later pouted. He cast Amazon darkly as "corporate America" and "the 1 percent" (boo! hiss!), rejecting a "fair deal" from the Big Apple. Talk about sour grapes. Imagine the compliments Mr. de Blasio would be lavishing on the same retail giant if it had said "I do" to his multi-million-dollar tax-break package … er, generous proposal?

It's a shame the mayor can't see the real lesson here: Crony capitalism is bad policy. Sweetheart deals for a select few, especially if they adhere to a politically correct agenda, isn't just morally wrong. In the long run, it's a losing strategy. "Employers want to set up shop in places where they can grow and succeed," writes budget expert Rachel Greszler. "The best environment for that is a level playing field with minimal government interference and low, broad-based taxes — not picking winners and losers through special-interest subsidies."

New York City doesn't have anything remotely approaching a level playing field. Even a fat tax-break package can't make up for:

• A top state marginal corporate tax rate of 17.2 percent (compared to a U.S. median of 6.8 percent);

• Onerous zoning and land-use laws (which, Ms. Greszler notes, "could have prevented Jeff Bezos from arranging special helicopter pad access")

• Outrageous property taxes

• Numerous heavy-handed labor regulations, such as Mr. de Blasio's proposal to mandate that employers provide all workers with two weeks of paid vacation

Why blast Amazon for realizing that it wouldn't pay, quite literally, to build its new headquarters in New York? This isn't a case of some mean ol' one-percenters leaving the city in a lurch. New York did this to itself. And if it doubts that, then why is Virginia still in the running for the big H2Q project? The payout the Old Dominion has offered Amazon is smaller than the one the Big Apple held out. But on "Rich States, Poor States," the ALEC-Laffer State Economic Competitiveness Index, New York ranks dead last in the overall economic outlook, while Virginia ranks among the top 10.

Amazon isn't the only company wary of locating in New York. Many other individuals, families and businesses are fleeing the state as well — ones who don't remotely qualify as the hated "1 percent" — and they're taking their income and tax revenues with them. How bad is it? Between 1997 and 2016, every dollar of income that left New York was replaced by only 71 cents coming in. No state can sustain that if it hopes to grow.

What states need to do, in short, is stop meddling.

(snip)

<More democrat Unintended Consequences Here>
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#2 User is online   tailgunner 

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Posted 22 February 2019 - 09:29 AM

Don't think that free health care in NYC BS didn't raise eyes at Amazon. They figured out who was going to pay for it. PS...... Anyone remember Startup NY? I didn't think so.

This post has been edited by tailgunner: 22 February 2019 - 09:42 AM

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#3 User is offline   gravelrash 

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Posted 22 February 2019 - 09:52 AM

The dishonorable dick Blowsio says that there is plenty of money. It's just in the wrong hands. He should pay for New York City's health care out of his own pocket. He would go from billionaire to beggar within 30 minutes.
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#4 User is offline   RedSoloCup 

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Posted 22 February 2019 - 10:03 AM

What a douchebag...
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#5 User is offline   helton 

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Posted 22 February 2019 - 02:17 PM

One of the major problems in this deal was that the details were not worked out prior to announcing that there was a deal in place.

The biggest stumbling block was NYC is a union town while Amazon does not roll that way. Since my Governor and Mayor have never worked a real job in their lives, this part of the negotiation caught them by surprise and they could not resolve it in a way that would satisfy everyone involved.

NY needs Amazon a lot more than Amazon needs NY, so these 2 losers are now trying to save face - and failing miserably.

DeBozo is quite a unique character in that he is universally despised and ridiculed by everyone. He is the Rodney Dangerfield in the history of NY mayors. Cuomo is also trying to save face but is being roundly criticized for his losing efforts.
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#6 User is offline   grimreefer 

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Posted 23 February 2019 - 01:26 AM

Quote

New York City Democrat Mayor Bill de Blasio had to correct Ocasio-Cortez for incorrectly thinking that "the $3 billion in tax breaks that were going to go to Amazon still existed after Amazon pulled out of NYC," The Daily Wire reported.

"And that $3 billion that would go back in tax incentives was only after we were getting the jobs and getting the revenue," de Blasio said, later adding: "There’s no money."

Hard to believe that Big Bird is one of the smarter NYC pols... :wtf2:
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