breaking! amazon gets millions in tax breaks for long island warehouse! (apartment, home)
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The Federal, State and Local governments use their ability to tax to create tax liabilities that are much higher than the net tax revenue they are seeking. They then use various exemptions to influence the behavior of companies and individuals and through tax waivers etc. compete for companies to locate jobs in their jurisdictions. In other words politicians are incentivized to control as much money as possible to extend their power to influence as far as they can.
Wrong or right, that's the game that's been setup and I wouldn't assume that these "tax breaks" to land a company reduce net tax revenue. In fact the intent is to actually increase overall revenue. Whether it works or not is another question, but the impact has to be viewed at a higher level than "some jerkwad billionaire got a taxbreak".
Edit, however it is a given that public funds should not be used to build stadiums for the monopolistic scumbag billionaires that run professional sports.
“I thought the more money a company made the more money the workers were suppose make.”
It’s about shareholders. Again, anyone owning a 401k/IRA probably owns Amazon.
“the adverse pay for an amazon employee is 21 to 41,000 a year.”
whos buying a house on long island with that salary?
Nobody is buying a house for that! Who considers 21k salary a “career” job?
“I thought the more money a company made the more money the workers were suppose make” SURE! Amazon stock is doing amazing!
“no, amazon has not made the world better, they have made it worse..”.
Explain? I’m confused?
Long Island gets the development it deserves. When NIMBYs fight every little project because it might bring traffic or people from Queens, we end up with only the big money players wanting to even bother dealing with the nonsense that is needed before a shovel is in the ground.
Also doesn't help that nobody has any kind of master development plan, so town and village boards base their approvals or denials on how many votes it will swing on the next election or how big of a check is cut to the political party in control
Quote:
Originally Posted by RPC324
Long Island rose and fell with Grumman. Meanwhile if Grumman came knocking today, we would run them out of town.
Respectfully, this is why this region will be bankrupt soon, starting with the homeowners on Long Island. You don't give Amazon charity off the backs of taxpayers. It is proven by these warehouses opening that the LIC noise was just that, a scare tactic to fleece the taxpayers. The region is big money in online retail. Amazon knows that. They need to be here. We don't need to grease their palms. Now the next 4 big companies know they will have no tax burden either. And I was FOR the LIC HQ, even though it was a ripoff. At least that had some decent paying jobs. The LI jobs are all $15-$20hr last mile delivery gigs. Only worth the lost tax revenue because we are such an upside down nimby mess that can't maintain or entice industries here.
I'm torn here. Totally get what your saying and I agree its RIDICULOUS that amazon is getting a friggen tax break for a warehouse of all things, something they probably logistically need to have here! And like you said its not like these are high paying corporate jobs that will be some massive boon to the region either.
On the other hand though its the Cerro site. A site that has been vacant for AGES and has environmental issues. I am glad something will finally be built there otherwise it would likely just continue to rot. Sad and pathetic really.
I'm torn here. Totally get what your saying and I agree its RIDICULOUS that amazon is getting a friggen tax break for a warehouse of all things, something they probably logistically need to have here! And like you said its not like these are high paying corporate jobs that will be some massive boon to the region either.
On the other hand though its the Cerro site. A site that has been vacant for AGES and has environmental issues. I am glad something will finally be built there otherwise it would likely just continue to rot. Sad and pathetic really.
That's a huge point too. THIS is the kind of project that IDA was meant for. Take a blighted property, clean it up, and put something profitable there. Any reduction they get will still end up yielding a higher net tax payment than the empty land.
I do understand the annoyance when every bakery or dry cleaner or bookstore applies for IDA though.
Suffolk has, the warehouse in Westhampton Beach got over $2m in tax breaks. The Syosset warehouse is getting theirs. Right or wrong, LI has been paying in tax breaks for job creation (mostly bogus and never meeting the promised numbers) for years and years and years. It's been wrong for years and years, too, but like most ponzi employment here (cops, teachers, corporate welfare), we do nothing about it. Search the threads on here for 100's of posts about it over the years. IDAs, PILOTS, etc.
Ya think people paying taxes up the wazoo while the rich and crony capitalist connected don't is something new?! We invented it.
Amazon needs the warehouse no matter what. Their choices of where to build are very limited.
They should not be getting one thin dime in taxbreas.
I'm not defending Amazon here. But can you explain to me how corporate tax breaks is a burden on a local tax payer? If there was no business, then there is no tax revenue generated. Just an emptying lot providing nothing. Zero taxes.
You put a business there, they hire people (and pay payroll, SS, and medicare taxes), pay for local utilities, local contractors to build maintain facilities, etc, etc, etc. So what if you give them a tax break? They get to keep more of their profits. They are not taking any tax money from the tax payer, jsut keeping more of what they earn as incentive.
I could give a flying _ if Amazon comes here or not. But taxing the crap out of businesses will not attract any new growth here. And an empty lot is not doing anyone any good either.
I totally get what you are saying and in the sad reality we are in I agree, we need the job creators. But it's a sad cycle that never makes us competitive. Companies utilize big resources and usually leave places worse for wear and tear, if LI isn't the poster child for that, i don't know who is. Amazon can afford to pay tax, so they should. It's nothing on their bottom line, but they leech off a community for low end jobs and the minute they are threatened for some bad neighborly behavior, they'll up and relocate, or squeeze even more abatements. Our taxes are high now? Try a commercial tax base completely on the dole. Won't be pretty, but leave it to the hacks around here. They'll give away the farm. But it's a good discussion and I get your points.
I'm torn here. Totally get what your saying and I agree its RIDICULOUS that amazon is getting a friggen tax break for a warehouse of all things, something they probably logistically need to have here! And like you said its not like these are high paying corporate jobs that will be some massive boon to the region either.
On the other hand though its the Cerro site. A site that has been vacant for AGES and has environmental issues. I am glad something will finally be built there otherwise it would likely just continue to rot. Sad and pathetic really.
Spot on. Right there with you Pec. I think the Cerro part tips the scale in their favor. Plus it's not money already expected/spent like some IDA's, like the debacle at Green Acres Mall so it won't impact budgets. People are burnt and need a jump and these jobs will definitely do some good for the local economy. I just think it feels more like a bloop single with a throwing error than a home run.
Can we all at least agree that the dumbest tax breaks are when the company wants to set up shop there anyway? As in, even if they had no tax incentives, they'd still do what they were planning to do?
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