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My daughter lives in Woodside, next to LIC. We've been upset about the Amazon affect - basically, affordable rents are raised so the middle class is pushed out. I'll thrilled about Amazon leaving.
And rents will still rise without amazon
You just held off the inevitable for a little longer meanwhile positive growth and income for the greater good of NYC is out the picture.
All because a few NIMBYs want cheap rent after coming into these neighborhoods raising rent on the locals themselves
I'm not sold that Amazon was going to be NYC savior. Those tax breaks they demanded were ridiculous. And their proposed 25k jobs is just an estimate
Those "tax" breaks were dependent on hitting the 25k jobs. If there were less than 25K, the subsidies were going to be proportionally less. And to be clear these were the incentives promised:
$897M NYC Relocation and Employment Assistance Program (REAP)
$386M Industrial & Commercial Abatement Program (ICAP).
$505M Capital grant
$1.20B “Excelsior” credits
TOTAL: $2.988 billion
In exchange, Amazon was to provide $27.5 Billion in revenue to the state and city through corporate and personal income taxes
that's a 9 to 1 payoff for the incentives, not including all the extra economic growth and revenue which could be double the amount
NYC will never get this great a deal ever again. Never.
My daughter lives in Woodside, next to LIC. We've been upset about the Amazon affect - basically, affordable rents are raised so the middle class is pushed out. I'll thrilled about Amazon leaving.
Quote:
Originally Posted by vision33r
Yes, while all the pro-Amazon folks are cheering there are many folks who live in the area will be pushed out by higher rents and cost of living. People should look at what Amazon has done in Seattle, the homeless problems, skyrocket rents and home prices. That forced Amazon to look elsewhere. The 25k jobs they bring will push out thousands of people around Queens.
And my daughter lives in Astoria, is 2 years out if college with a good job in Midtown and was looking forward to getting her resume to Amazon. She has a business degree and thought this could be a great opportunity.
Like it or not Manhattan only has so much room and the western part of Queens is ripe for the overflow. I worked in LIC briefly way back when and it was nothing but warehouses and lots. Couldn't even find a decent place to get lunch. Now- last year we stayed in a hotel in LIC to be closer to my D and still have easy access into Manhattan. I just think about all the businesses that could have benefited from Amazon being there. Which in turn could have created more jobs and in turn more tax revenue for NY and NYC.
Also, Seattle's homeless issues are not exclusively the result of the high cost of living.
Those are salaries (particularly the higher salaries) from across New York State, not New York City. It also appears to include at least one salary from a college (Fashion Institute of Technology).
Those "tax" breaks were dependent on hitting the 25k jobs. If there were less than 25K, the subsidies were going to be proportionally less. And to be clear these were the incentives promised:
$897M NYC Relocation and Employment Assistance Program (REAP)
$386M Industrial & Commercial Abatement Program (ICAP).
$505M Capital grant
$1.20B “Excelsior” credits
TOTAL: $2.988 billion
In exchange, Amazon was to provide $27.5 Billion in revenue to the state and city through corporate and personal income taxes
that's a 9 to 1 payoff for the incentives, not including all the extra economic growth and revenue which could be double the amount
NYC will never get this great a deal ever again. Never.
How do you square your claims when Amazon paid zero tax on 11 Billion in profit.
Everybody acted stupidly -- Amazon, government officials, Gov. Cuomo, the mayor. I refuse to take a side in this fiasco.
Amazon is the richest company in the world. Why did it need taxpayer's money as an incentive to build? Thieves. We needed that money to improve our roads and bridges.
Government looked this gift horse in the mouth and lost. It showed no respect to a multi-billion dollar company eager to bring 25,000 jobs to NYC.
Once again, the rich guys have ****ed the people. We're the ones struggling to make ends meet. We're the ones who lost.
You think they would just pay N.Y. corporate tax out of the goodness of their heart?
What needs to be squared? If Amazon paid 0 in corporate taxes to New York, who cares?
The income tax on wages was going to be astronomical.
Do you realize the AVERAGE wage of those amazon jobs was going to be $150,000. That is mind blowing and would have been close to $4 Billion in fully taxable wages PER YEAR
AOC says,JOBS ,JOBS ! We don't need no stinkin jobs. We got unemployment insurance. You have me fighting to keep those jobs away from you...Jobs..pfft
Now lets build that railroad to London.
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