B-Man Posted February 15, 2019 Share Posted February 15, 2019 Ocasio-Cortez is not exactly beloved by the Democratic establishment in New York. With the Amazon debacle, her odds of facing a serious primary challenge just increased dramatically. https://thefederalist.com/2019/02/14/scuttling-amazon-deal-aoc-just-opened-primary-challenge/ Link to comment Share on other sites More sharing options...
whatdrought Posted February 15, 2019 Share Posted February 15, 2019 Just now, B-Man said: Ocasio-Cortez is not exactly beloved by the Democratic establishment in New York. With the Amazon debacle, her odds of facing a serious primary challenge just increased dramatically. https://thefederalist.com/2019/02/14/scuttling-amazon-deal-aoc-just-opened-primary-challenge/ I will say this about AOC- she’s a giant idiot who has no grasp on reality, but she seems to be in politics for the ideals, not for the power or the normal corrupt reasons. Her ideals are just 20 pounds of ***** in a 5 pound bag. Link to comment Share on other sites More sharing options...
DC Tom Posted February 15, 2019 Share Posted February 15, 2019 35 minutes ago, Nanker said: In Provincetown, MA there is a Seaman’s National Bank. Word is they take night deposits in the rear. With every new savings account, you get free rum, buggery, and the lash. It was rum, s.odomy, and the lash, but ***** is ***** censored. Link to comment Share on other sites More sharing options...
Kevbeau Posted February 15, 2019 Share Posted February 15, 2019 (edited) 5 hours ago, LABillzFan said: I think there's some truth this this article from The Atlantic. Maybe you get that growth without gouging the condo market any more than usual. In the end, this should really solidify AOC as a leader on the left, and short of watching Hillary try to navigate a flight of stairs, she's becoming my favorite leftist. Yes, because the jobs in the fulfillment center will generate the same amount of tax revenue as HQ jobs. (Per article) Edited February 15, 2019 by Kevbeau Link to comment Share on other sites More sharing options...
Kevbeau Posted February 15, 2019 Share Posted February 15, 2019 4 hours ago, BringBackOrton said: Hey now. She graduated ***** laude from Boston University as an Econ major. And devaluing that degree for the rest of the student population every time she opens her mouth. Link to comment Share on other sites More sharing options...
DC Tom Posted February 15, 2019 Share Posted February 15, 2019 2 minutes ago, Kevbeau said: And devaluing that degree for the rest of the student population every time she opens her mouth. A bachelor's in economics. It's not like she can devalue it by all that much more. 1 Link to comment Share on other sites More sharing options...
Koko78 Posted February 15, 2019 Share Posted February 15, 2019 (edited) Quote CCN reported earlier today that Amazon had scrapped the spacious campus it had planned to build in Long Island City, Queens, which would have created roughly 25,000 well-paying jobs. The residual job creation was estimated to be an additional 67,000 jobs. https://finance.yahoo.com/news/alexandria-ocasio-cortez-cringeworthy-reaction-221825976.html?_fsig=CgJft1PXtWGEGEcQQ0qhEA-- But at least NYS and NYC didn't "spend" $3 billion in tax breaks. Yay democratic socialism! Edited February 15, 2019 by Koko78 Link to comment Share on other sites More sharing options...
IDBillzFan Posted February 15, 2019 Author Share Posted February 15, 2019 3 minutes ago, DC Tom said: A bachelor's in economics. It's not like she can devalue it by all that much more. But she could have backed it up with a RomCom Doctorate. 3 minutes ago, Koko78 said: https://finance.yahoo.com/news/alexandria-ocasio-cortez-cringeworthy-reaction-221825976.html?_fsig=CgJft1PXtWGEGEcQQ0qhEA-- But at least NYS and NYC didn't "spend" $3 billion in tax breaks. Yay democratic socialism! Now they can spend it on teachers and subways! Link to comment Share on other sites More sharing options...
RocCityRoller Posted February 15, 2019 Share Posted February 15, 2019 (edited) 7 hours ago, TakeYouToTasker said: That's... That's not how accounting works... The state of New York was not going to be giving Amazon $3 billion dollars to come in. They were going to give Amazon $3 billion in tax credits, which would have been a break on their tax bill, but still a net gain in corporate taxes paid in addition to the 25 thousand jobs averaging 6 figures or more. Now New York has nothing. No tax receipts, no jobs, and still hold on to their crumbling infrastructure. They do not have 3b in assets they can allocate elsewhere. This woman is a ***** moron. No one has tried looking at the $ opportunity lost. Let's only look at lost employee income tax and employer SUI alone, because no tax deal would include SUI (state unemployment Insurance) since it has a base floor and tax breaks (aka corporate deferments) don't apply to employees. The average pay was to be 150k. Since I have no idea of the statistical spread of salaries I'll have to go with a mean average. In New York State, the combined state income tax on 150k is 6.28% a year. It varies by claimed dependents, pretax savings (401k/ health care), tax loopholes and not taking into account lower paid employees. It also does not take into consideration the progressive tax structure in NYS paid on higher salaries. The base is $9400 per employee. 0.0628 * 25,000 employees * $150000 = 235,500,000 annually in state income tax. Let's say the avg is 9k given to salary spread, pretax investments and tax loopholes etc. At 9k a year per employee, that is still 225 million annually in NYS personal income tax. NYC also has a 3.8% city income tax, or another $5.5k average annual tax on $150000. 0.038*$150000*25,000 = $142,500,000 in annual NYC income tax. Adding this with the state taxes this is about $350-375 million in employee paid income tax alone. Given spread, individual deductions etc, the reality is $325-400 million a year annually lost in employee income taxes that loud mouth Democrat leadership chased away. Tell me again how chasing away about a third of a billion dollars in personal income taxes annually helps a state with a new 2.3 billion dollar shortfall? This back of the napkin calculation does not include employer corporate tax, state disability tax, State Unemployment Insurance, employee property taxes, sales taxes (8.875% in NYC), service surcharges, and 'sin taxes' on things like gas and soda. The NYS SUI (state unemployment insurance rate) collected from employers is 3.525%. 3.525% is the low rate, it escalates up to 8.225%. Let's go with 3.525% 0.03525*150000*25000 = $132,187,500. At a very bottom, looking at employee state income tax, employee city income tax and employer SUI that is half a billion dollars a year lost to a tone deaf and ignorant New York leadership. The Dems thumb their noses at a corporation that would have generated half a billion a year, minimum directly to NYS/NYC coffers. That is if the subsidies and deferments allowed Amazon to pay no real estate tax and no corporate tax into perpetuity. Keep in mind the half a billion annually also does not account for the employee sales taxes, property taxes, surcharges, public transit receipts or sin taxes. All told there is an easy 750 million to 1 billion total dollar annual tax opportunity loss, and AOC thinks she won because she 'saved' 3 billion in deferred tax credits that cost nothing but the opportunity cost to to the land and revenues that may be generated on that land and by another company. Infanticide Andy is blaming Trump for a 2.3 billion dollar shortfall due a a change in Federal tax policy that limits how much state tax a person can claim on federal returns. BTW The goal of the federal tax code change is to prevent states like NY and CA from taxing their middle class, entrepreneurs and high tax earners into oblivion. It also limits subsidies paid from poorer states to richer states in the form of tax deductions of the middle class and wealthy in overtaxed states. Seems fair to me. Why should a middle class person in Tennessee pay for deductions the Federal government gives to the people in high taxed states like NY? Of course Infanticide Andy doesn't like this. Mini Mussolini feels that the rest of the country should pay to help out the middle class, upper middle class and wealthy in New York because he overtaxes them. How else can he stem the flow of 1.8 million middle class, entrepreneurs and wealthy leaving the state since 2000? What about the jobs that would have been created in transportation/ hospitality/ food service and other retail that that 25000 people on a150k average would have demanded? All of that spending is again taxed as income by the employees in those jobs and the employer of those employees. We also don't factor in Labor Economics, wherein employers have to pay more or offer better benefits due to 25,000 high skilled employees being sucked into better paying jobs with Amazon, a stable employer. AOC thinks this is a win. You can't make up this level of ineptitude and stupidity. Edited February 15, 2019 by RocCityRoller 2 1 Link to comment Share on other sites More sharing options...
Q-baby! Posted February 15, 2019 Share Posted February 15, 2019 3 minutes ago, RocCityRoller said: No one has tried looking at the $ opportunity lost. Let's only look at lost employee income tax and employer SUI alone, because no tax deal would include SUI (state unemployment Insurance) since it has a base floor and tax breaks (aka corporate deferments) don't apply to employees. The average pay was to be 150k. Since I have no idea of the statistical spread of salaries I'll have to go with a mean average. In New York State, the combined state income tax on 150k is 6.28% a year. It varies by claimed dependents, pretax savings (401k/ health care), tax loopholes and not taking into account lower paid employees. It also does not take into consideration the progressive tax structure in NYS paid on higher salaries. The base is $9400 per employee. 0.0628 * 25,000 employees * $150000 = 235,500,000 annually in state income tax. Let's say the avg is 9k given to salary spread, pretax investments and tax loopholes etc at 9k a year per employee, that is still 225 million annually in NYS personal income tax. NYC also has a 3.8% city income tax, or another $5.5k average annual tax on $150000. 0.038*$150000*25,000 = $142,500,000 in annual NYC income tax. Adding this with the state taxes this is about $350-375 million in employee paid income tax alone. Given spread, individual deductions etc, the reality is $325-400 million a year annually lost in employee income taxes that loud mouth Democrat leadership chased away. Tell me again how chasing away about a third of a billion dollars in personal income taxes annually helps a state with a new 2.3 billion dollar shortfall? This back of the napkin calculation does not include employer corporate tax, state disability tax, State Unemployment Insurance, employee property taxes, sales taxes (8.875% in NYC), service surcharges, and 'sin taxes' on things like gas and soda. The NYS SUI (state unemployment insurance rate) collected from employers is 3.525%. 3.525% is the low rate, it escalates up to 8.225%. Let's go with 3.535% 0.03525*150000*25000 = $132,187,500. At a very bottom, looking at employee state income tax, employee city income tax and employer SUI that is half a billion dollars a year lost to a tone deaf and ignorant New York leadership. The Dems thumb their noses at a corporation that would have generated half a billion a year, minimum directly to NYS/NYC coffers. That is if the subsidies and deferments allowed Amazon to pay no real estate tax and no corporate tax for just one year. Keep in mind the half a billion annually also does not account for the employee sales taxes, property taxes, surcharges, public transit receipts or sin taxes. All told there is an easy 750 million to 1 billion total dollar annual tax opportunity loss, and AOC thinks she won because she 'saved' 3 billion in deferred tax credits that cost nothing but the opportunity cost to to the land and revenues that may be generated on that land and by another company. Infanticide Andy is blaming Trump for a 2.3 billion dollar shortfall due a a change in Federal tax policy that limits how much state tax a person can claim on federal returns. BTW The goal of the federal tax code change is to prevent states like NY and CA from taxing their middle class, entrepreneurs and high tax earners into oblivion. It also limits subsidies paid from poorer states to richer states in the form of tax deductions of the middle class and wealthy in overtaxed states. Seems fair to me. Why should a middle class person in Tennessee pay for deductions the Federal government gives to the people in high taxed states like NY? Of course Infanticide Andy doesn't like this. Mini Mussolini feels that the rest of the country should pay to help out the middle class, upper middle class and wealthy in New York because he overtaxes them. How else can he stem the flow of 1.8 million middle class, entrepreneurs and wealthy leaving the state since 2000? What about the jobs that would have been created in transportation/ hospitality/ food service and other retail that that 25000 people on a150k average would have demanded? All of that spending is again taxed as income by the employees in those jobs and the employer of those employees. We also don't factor in Labor Economics, wherein employers have to pay more or offer better benefits due to 25,000 high skilled employees being sucked into better paying jobs with Amazon, a stable employer. AOC thinks this is a win. You can't make up this level of ineptitude and stupidity. Holy *****, if you went any longer, you would have had them clearing the national debt in one year! Link to comment Share on other sites More sharing options...
GG Posted February 15, 2019 Share Posted February 15, 2019 15 minutes ago, BigMcD said: Holy *****, if you went any longer, you would have had them clearing the national debt in one year! Yeah, much easier to make fun of the post length than to argue the merits. That's why you guys are the smart ones up there. 1 Link to comment Share on other sites More sharing options...
Q-baby! Posted February 15, 2019 Share Posted February 15, 2019 1 minute ago, GG said: Yeah, much easier to make fun of the post length than to argue the merits. That's why you guys are the smart ones up there. You missed the point smart guy! Link to comment Share on other sites More sharing options...
DC Tom Posted February 15, 2019 Share Posted February 15, 2019 Just now, BigMcD said: You missed the point smart guy! No, he really didn't. Link to comment Share on other sites More sharing options...
Q-baby! Posted February 15, 2019 Share Posted February 15, 2019 Just now, DC Tom said: No, he really didn't. I guess you did too, but I expect that.... Link to comment Share on other sites More sharing options...
DC Tom Posted February 15, 2019 Share Posted February 15, 2019 5 minutes ago, BigMcD said: I guess you did too, but I expect that.... No, I didn't either. Link to comment Share on other sites More sharing options...
Q-baby! Posted February 15, 2019 Share Posted February 15, 2019 Just now, DC Tom said: No, I didn't either. Ok then. ? Link to comment Share on other sites More sharing options...
Doc Brown Posted February 15, 2019 Share Posted February 15, 2019 (edited) They're not stopping....I find the bolded part of the article funny. Politicians aren’t done targeting Amazon’s NYC footprint New York City politicians who scared Amazon out of building a headquarters in Queens plan to focus next on restricting the tech giant’s budding Big Apple retail business. On the same day that the Seattle-based behemoth announced it will not build its second headquarters in Long Island City because of the chilly reception from elected officials, a group of city legislators were discussing plans to curb Amazon’s retail expansion in New York City. Councilman Ritchie Torres (D-Bronx) has 19 co-sponsors on a bill to ban cashless retail venues, including two Amazon bookstores and an Amazon 4-Star shop, which features its most popular products. All of them only accept electronic payments. “There’s real concern that Amazon will displace small businesses and accelerate the trend towards a cashless economy,” Torres said. The bill, introduced in November, could also deter Amazon from testing its newest concept in NYC: ready-to-eat food sold in stores run largely by machines. “No lines, no checkout — just grab and go!” says an ad for the Amazon Go store concept. There are currently 10 Amazon Go stores in Seattle, Chicago and San Francisco with plans to open as many as 3,000 across the country. The automated store, which has sparked fears about jobs, is scheduled to open in Manhattan’s Brookfield Place soon, according to reports. The Seattle retailer, run by billionaire Jeff Bezos, figured prominently in Thursday’s City Council subcommittee hearing to stop retailers from banning cash as a form of payment. “Amazon has plans to open its own cashless businesses in major cities and I think we should intervene before the trend,” takes off, Torres said during the hearing. Supporters argue that requiring electronic payments discriminates against poor people who may not have bank accounts or credit cards — as well as minors. But the bill is expected to hurt not just Amazon, but also a growing number of restaurants, like salad chain Sweetgreen, and taco restaurant Dos Toros Taqueria, which no longer accept cash in their eateries. Restaurant owners spoke at the hearing arguing that eliminating cash has made their businesses more efficient and kept their workers safe from would-be robbers. Local labor groups that have successfully kept Walmart out of the city have teamed up with Torres and are now talking of a similar crusade against Amazon. Union group Retail, Wholesale and Department Store Union — an arm of the powerful United Food and Commercial Workers International Union (UFCW) — and Torres had planned a media event Wednesday at Amazon’s bookstore on West 34th Street to drive home their concerns. They had planned for a student to make a purchase at the store and get turned away, but the event was canceled, a union spokeswoman said, because the student came down with the flu. UFCW is largely responsible for preventing Walmart from opening stores in the Big Apple over the past decade. “I think this is a major blow to the city,” Councilman Erich Ulrich (R-Ozone Park, Queens) told The Post about Amazon pulling out of NYC. Ulrich said he would not support the cashless bill because it is another form of “excessive regulation.” Edited February 15, 2019 by Doc Brown Link to comment Share on other sites More sharing options...
keepthefaith Posted February 15, 2019 Share Posted February 15, 2019 49 minutes ago, BigMcD said: You missed the point smart guy! No dumbass, the entire presentation was state level math. Link to comment Share on other sites More sharing options...
Q-baby! Posted February 15, 2019 Share Posted February 15, 2019 3 minutes ago, keepthefaith said: No dumbass, the entire presentation was state level math. Keepthefaith man! Link to comment Share on other sites More sharing options...
KD in CA Posted February 15, 2019 Share Posted February 15, 2019 18 minutes ago, Doc Brown said: Councilman Ritchie Torres (D-Bronx) has 19 co-sponsors on a bill to ban cashless retail venues Boy, it sure doesn't get any more "progressive" than banning anything that uses 21st century technology! Quote Restaurant owners spoke at the hearing arguing that eliminating cash has made their businesses more efficient and kept their workers safe from would-be robbers. Ho, ho, you silly peasants!! Don't you know that a few of you being killed, beaten or robbed every so often is a trifle thing compared with standing up against those who would dare to make life easier, more convenient and more affordable! Link to comment Share on other sites More sharing options...
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