How Much Money Wasted?
Amazon announced that they weren't building a $2.8 billion headquarters in New York after all, meaning 25,000 jobs fall by the wayside along with billions of dollars in tax revenue.
Anyone in the Chicago media asking how much did Rahm wasted courting these people? Yeah, we didn't think so.
And did everyone see how much Amazon is paying in taxes for 2018, on profits of $11 billion?
Anyone in the Chicago media asking how much did Rahm wasted courting these people? Yeah, we didn't think so.
And did everyone see how much Amazon is paying in taxes for 2018, on profits of $11 billion?
Actually, that's not quite true. They filed for and will receive a rebate of $129 million, making their effective tax rate negative 1%.
Labels: money questions
posted by SCC at 12:02 AM
29 Comments:
From what I read about the failure of the NYC (Long Island City) HQ2 is they could not get agreement from the local community. I’m projecting a little here, but if New York is like Chicago a bunch of “gibs me dat” people asked for too much. Good for you Amazon. Take your 6-figure jobs where people are business friendly.
(I’m not at all agreeing with cities putting together corporate welfare packages - cities should all say “no” to these incentive wars. Impossible, I know.)
Chicago paid for in & out airfare, hotels, food,
entertainment, ground transportation (limo, tour bus,
private rental cars for self-inspection). That's for the
initial visit, formal follow ups, and at-will surprise tours
and inspections unannounced, then billed after-the-fact.
In other words, a TON. Does Rahm have free Amazon Prime,
Netflix, ect., ect., ect. These companies use tech as currency/swag.
"They filed for and will receive a rebate of $129 million"
Too funny, if you don't mind dark humor.
A good, old fashioned Bunko Squad should pay Amazon
a visit and politely ask for the money to be returned.
The old ways were sometimes the best.
never, never, never again
BUY LOCAL
At least the debacle produced a lot of comedy. Watching dumbass lefties eat each other is always a good time.
If they didn't like New York they sure as hell won't like Chicago. No one can top our gib me dats. Now they are getting thousands for doing nothing.
Socialists want destruction.
They will bring it on all of us.
How much money did they blow trying to get da lympics and the star wars museum. General electric doesn't pay any taxes either. They have a whole herd of tax accountants that make sure that happens.
NY chased after the money train just like Chicago did for the Olympics and both missed it and fell on the tracks. If you will remember all the crooks (investors and realtors) including the City trying to buy up property where the Olympic Village was to be here and then puff. Funny how economics in the liberal mind always has that crooked angle to it. I heard Señorita Burrito Cortez proclaiming after the NY debacle that it was good they did not get 25,000 jobs. Now they can use that money to hire more teachers, improve roads and have more programs to help people. Stupid dummy. What money? Amazon is not coming to NY so you cannot tax therm. There is NO money to take out of 25,000 pockets dumb ass. Now go peddle your Green New Deal, more liberal stupidity and keep making a good case to re let Trump.
Of course JB The Hutt and Raccoon Eyes have both contacted Amazon and begged them to re-consider
You are kidding me, RIGHT!
I paid more taxes than Amazon, get outta here!
Hahahahahahaha!
Fuck Bezos and his modern day Trojan Horse. Now go get your spicy shine box
Funny, the folks the Dem's keep saying they are protecting and giving free shit to were the one's that got fucked big time. Near where Amazon was going to build is a Public Housing Project.
Hahahahahahaha......Warren Wilhelm (NYC Mayor's real name) got it stuck in his DemocRATic arse......
Not such a big loss to the taxpayers though.....they saved the $3 billion in tax write-offs to a corporation that pays ZERO taxes, and most of the big $$$$ jobs would NOT have been New Yorkers anyway, Amazon would have imported those people into NYC.....
Maybe some of the leftist bunch are finally getting the picture of what the DemocRATs have in store for the rest us.....low wage jobs, open borders, 20+ million citizens of other countries that WE, the taxpayer, pays the freight for with housing, food, medical, education....
Yeah, comedy.
Like high school student "government."
You knew these guys. You knew what they were really
like. Who were they fooling?
What you didn't know at the time was the real reason junior
shure grew up real quick, sort of like a personality change.
It was good old mom & dad at home telling the kid that any
title or responsibility would look good on a college application
and cause the judges to overlook certain ho-hum grades.
That's when you realized the fake rebel, the joke cracker, the
behind-the-back rule breaker was really trying to get a leg up
on you.
Fucking Jeff Bezos. They say this runoff/financial cage match
will be taught in business schools for some time in the future.
That's what your kid will get for an MBA, along with being on
the hook for >$100K in federal (non-bankruptable) loans.
So, who is playing who here? Jeffy Boy is not your friend.
You make paying zero taxes sound like a bad thing.
As long as you do it LEGALLY it is a wonderful thing.
I don't make the rules, I only play by them.
I actually don't care that Amazon pays zero federal taxes. Frankly, no corporation should pay income taxes. That money should go to business development and job creation, which results in higher income tax revenues from the increased workforce. Any taxes or other fees imposed on corporations just end up in higher prices of their products and reduced investment in jobs and product development. Pretty basic economics.
Competition is healthy including between states. That's why people are fleeing NY. If you don't want to have to compete lower your taxes to all.
New York hates working people anyway.
People leaving NY and IL, people buying soda to avoid the soda tax all are looking for a tax break as well lol. That's why dems want all states to have the same income tax rate.
Just like Congresswoman AOC and her leftist ilk in NYC drove out Amazon, Father Faker and "Reverend" Jesse Jackson would have done the same thing in Chicago.
Rahm probably wasted nearly as much as Shortshanks did trying to bribe the Olympics into hosting here.
All that pissed away money would surely help our pension fund.
I m convince the teo guys who attacked him were the same twowho attempted to assinate Michael Corleone in the movie " the godfather part II "
"Unless I'm very wrong, they're dead already"
The new political scum like Ocasio-Cortez has the plan of constantly sucking up to the permanent victim class. These are socialists and they must be stopped. I’m not into corporate welfare but it’s time the community types that contribute nothing dictate to those who work for a living.
After exposing Shortshanks Michael Reese - Olympic bid debacle (yes, we’re still lying that debt off), they won’t agitate Shortshanks 3.0 and his JP Morgan connection to that expenditure. Uh-uh don’t go there.
Give Non-Fed Tax paying Amazon any tax discount is criminal.
But the Community Re-Investment Act was just that.
Everybody capitalized on that deal, even a Rahm with the FreddieMac fold.
Would or did Amazon willing to play in the wide wide world of RahmoNomics?
ShortShanked Rahm without hesitation, agreed to spend on a new airport terminal at O’Hare (min.$8 billion) on top of its unfinished so far $10 bilion reconfigured runway plan and that still takes 20-30 mins to taxi into the current new terminal(s).
So spending an upfront $1 mil on a tax incentive deal of $2-3 bil to make a ten year $1 billion return seems like a typical Chicago Way deal.
Rahm certainly spent well using connected public relations firms and study groups pertaining to Amazon that WILL be exposed after he leaves in May.
Wonder if Sterling Bay offered more than Amazon for those riverfront properties, in the long run?
Rahm and JB are still trying to court Amazon back, so more cash is still on the table above what we already had to spend.
Amazon doesn’t need tax incentives, it’s not paying anything into federal or state taxes.
They leave that up to the employees they hire and the collaterals those employees will have spend.
So really the only winner is the politician.
With the ready workforce, great location, and amenities, Chicago could have companies competing to locate in its city limits if it was run right.
Amazon just have the politicians in NY a big puck you over unionization of their workforce. Will be interesting how Chicago unions let them in without unions. Lots of politicians owe the unions big time. Sure to be a dog fight.
I used to live across the street from the Michael Reese site but moved out of state. Has the city done anything with the property yet? Or is it still a 90 million dollar vacant lot? There was one building left on the grounds, as I remember.
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