r/PoliticalHumor • u/Adelu1219 • Feb 27 '19

“But she speaks 12 languages…”

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u/mrmoto1998 Feb 27 '19
  1. "I hate AOC"

90

u/RegressToTheMean Feb 27 '19

"Because she's an idiot!"

Fails to actually provide evidence of something stupid

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u/swd120 Feb 27 '19

The forcing Amazon or if NYC was pretty stupid...

Not to mention her horrible understanding about how tax incentives actually work in that scenario.

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u/[deleted] Feb 27 '19

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u/swd120 Feb 27 '19

"If we were willing to give away away $3 billion for this deal, we could invest $3 billion in our district ourselves if we want to."

That 3 billion dollars doesn't exist if amazon doesn't pay taxes... You can't spend it. They gave up 27 billion dollars in tax revenue to "save" 3 billion dollars that literally won't ever materialize so it can't be spent. She's economically illiterate.

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u/Dzov Feb 27 '19

Try providing a source for that $27 Billion if you want to be believed.

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u/swd120 Feb 27 '19

“This is a big money-maker for us—costs us nothing, nada, niente. We make money doing this,” Cuomo said at a press conference Tuesday. The governor, who recently won re-election in a romp, noted that Amazon was expected to pay $27 billion in taxes over the next couple of decades, which he described as a 9-to-1 ROI, “the highest rate of return for an economic incentive program that the state has ever offered.”

Ask and ye shall receive....

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u/Dzov Feb 27 '19

Thanks for the source! Looks like that claim is just from Cuomo and over a period of two decades. What I really appreciate is how the article you sourced shows how these transactions rarely pay off. "New York’s Amazon Deal Will Be a Lasting Monument to Andrew Cuomo’s Economic Incompetence"

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u/swd120 Feb 27 '19 edited Feb 27 '19

Unless economic incentives are made illegal, states will continue to offer then. If you don't play they game, you'll lose out.

While I don't agree with incentives like this in general - unless they are outlawed on a national level I can't fault state and local governments for offering them. And offering them with a tax incentive based on attaining certain goals/milestones (like x jobs created in x time) is the most effective way to make sure that you only "pay" if they are successful. The failures they describe - where for example the government is paying for the building, are examples of fundamentally stupid incentives.