Helping clients throughout New Hampshire and Vermont.
79 Hanover Street, Lebanon, NH

Sucking up to Amazon

December 7, 2017

Full disclosure: I never ever ever buy anything from Amazon ever.  If you feel like lining the pockets of a man who is worth $100 billion and who mistreats his employees, be my guest.  I’ll take a pass.

That said, you doubtless know that Amazon is planning on opening a second headquarters, and that fawning municipalities all over the country are stumbling over one another in their attempts to land Amazon.  To the point that their proposals are mind-boggling.

Chicago has offered to let Amazon pocket $1.3 billion in income taxes paid by its employees. Oh, the employees will still pay the taxes. It’s just that the tax revenue won’t go to pay for infrastructure or parks or schools; Amazon will just keep the money.

Chula Vista, California is offering $100 million in free land, and a 30-year pass on paying property taxes.

Fresno has offered to place 85 percent of all taxes and fees generated by Amazon into a special fund, with spending partly overseen by company executives.

If Amazon lands in Newark, New Jersey, the State has propose to give Amazon $7 billion (which works out to a $10,000 subsidy for each of the 50,000 jobs Amazon pledges its new headquarters will bring).

The good news is that Vermont is not in the running.

 

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