Amazon offered 7 Billion in tax breaks

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Amazon offered 7 Billion in tax breaks

Postby Jack Flash » 19 Oct 17, 11:29 am

Amazon offered billions in tax breaks for second U.S. headquarters ... SKBN1CO1IP

The world’s largest online retailer has won promises from elected officials who are eager for the $5 billion-plus investment and up to 50,000 jobs that will come with “Amazon HQ2.”

New Jersey proposed $7 billion in potential credits against state and city taxes if Amazon locates in Newark and sticks to hiring commitments, according to a Monday news release from the governor’s office.

Two things are fundamentally wrong with these tax breaks for large corporations. First they provide an unfair advantage against small companies and startups that provide the competitive environment in which this country became strong.

Second to make up the shortfall individuals are being taxed at higher rate.

Aside from bad business economics, it is just fundamentally wrong to cut subsidies to the poor while increasing subsidies to the rich.

If you want to cut out subsidies altogether, I can see your point and we can agree to disagree. But to do the opposite? :?

Edit: Last year Amazon paid a $1.4 billion in taxes on $136 billion in sales. That is about 1% Imagine getting 1% taken out of your pay for taxes. Trump is right about one thing; only the little guys pay taxes. :roll: Can't believe I'm agreeing with him.
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