Hooray! No Jobs for New York

-edited

Progressives are cheering this weekend. They drove Amazon out of New York.

The New York Times reports In Amazon Fight, Progressives Showed What They Want: A New Economic Agenda.

The political opposition that prompted Amazon to walk away from building a corporate headquarters in New York City featured a touchstone of the progressives’ economic agenda: ending tax policies that unfairly reward and pamper the wealthy.

The clash has consequences far beyond New York, going to the heart of a national debate that is likely to dominate the 2020 presidential race: What is the best way to spread prosperity?

As Gov. Andrew M. Cuomo fumed that some of his fellow Democrats put “the state’s economic future” at risk, others inside and outside the party saw the scuttled project as evidence that the left doesn’t understand how to generate growth. In a tweet, Lloyd Blankfein, senior chairman of Goldman Sachs, lashed out at progressive Democrats, labeling them as both “anti-progress” and “anti-Democratic.”

Elizabeth Warren

Vs. Lloyd Blankfein

It's important to not let personalities get in the way of sound economics. I do not care at all for Blankfein or the handouts banks got in the Great Recession. But that is no excuse to embrace piss poor policy.

Andrew Cuomo New York Governor

Democrats Tear Themselves Apart

Please consider Democrats are Tearing Themselves Apart Over Amazon.

While the battle still rages and analysts study the entrails of Amazon’s decision-making, here’s a thought: What if both sides of the Dem battle are wrong?

The migration of jobs and families out of high-tax, high-cost states has been going on for years, but is becoming a stampede because of the new federal tax law and because of how Democrats are reacting to it.

Throw in the fact that some Democrat-controlled states, especially Illinois and New Jersey, already face huge problems with their civil- service pension funds and it’s obvious that the blue-state model is ­undergoing a major stress test.

Incredibly, the leaders of most are responding in self-defeating ways.

Cuomo and de Blasio forgot that Rep. Alexandria Ocasio-Cortez and her socialist ilk tend to see capitalism in any form as evil. Her side didn’t want Amazon to get taxpayer help and demanded instead that it be forced to contribute millions to schools and subways.

Cities from Seattle to New York are raising taxes, or trying to, imposing minimum wages of $15 an hour and requiring even small businesses to give workers expensive health and vacation benefits.

Simultaneously, many of those same cities are driving up their education and health costs by declaring themselves sanctuary cities for illegal immigrants — in direct reaction to Trump’s push for secure borders.

‘Green Deal’ Space Cadets

New York Post reader David Rabinovitz calls for caution. He says AOC's New Green Deal has chances.

People shouldn’t be so dismissive of the Green New Deal."

His rationale is perfect.

It can be successfully implemented when the Little Green Men come down from outer space.

Mike "Mish" Shedlock

Comments (32)
No. 1-21
mark0f0
mark0f0

Don't know if I'd call Amazon "one of the wealthiest on the planet". Their billions in assets can't produce meaningful profit. However, why are these businesses being subsidized? And why would Amazon want a location like NY when they could locate at a place for RTP for far less?

Sechel
Sechel

well i'm against these deals, but that needs to stop at the federal level, until then cities have to play ball and 25,000 jobs at $150,000 would have funded a lot services and infrastructure. the fact is what the city doesn't get from income taxes and business taxes comes from real estate taxes. a lot of the young progressives that fought the amazon deal don't look at the real estate tax angle, they're primarily renters.

tz1
tz1

What high taxes, high regulations, crony corrupt unions and city inspectors couldn't do...

I think Bezos simply came to his senses.

Hey, maybe he can move it to Chicago, Illinois!

Maybe they will get everything Trump has built to leave too.

thimk
thimk

all this is a tax credit , no cash outlay . the city would have picked up recurring cash tax revenues from other sources to compensate as @Sechel mentioned . Anyways I think amazon was looking for a way out,similar to Foxcon and AOC accommodated . This alt left stuff is a prayer answered for the repubs. what is Bezo's washington post saying now?

shamrock
shamrock

what if they divide the $3B in subsidies among 3,000 small businesses at $1M/per, would that help generate more than 25,000 jobs?