tax breaks

The Amazin’ Amazon “Race to the Bottom”

#situp | #rollover | #beg

"Tax breaks to Amazon promised by New Jersey: $7 billion. Tax breaks promised by Illinois: $2 billion. Something is deeply wrong with our economy & democracy when local governments offer up their tax base to a corporation worth over $500 billion." [Rep. Keith Ellison (D-MN05), via Twitter, 18 January 2017]

Julia Conley, via AlterNet:

Critics of Amazon’s “race to the bottom” as it searches for a home for its second headquarters said on Thursday that the company’s newly released shortlist of 20 cities highlights a crisis in the U.S. economy—one exemplified by the huge incentives offered to Amazon in the bidding war among potential hosts.

Rep. Keith Ellison (D-Minn.) was among those slamming Amazon and the state and local governments willing to give billions of dollars in tax breaks to the extremely wealthy multinational company.

Rep. Keith Ellison [D-MN05]. (Photo by Greg Nash)Tax breaks to Amazon promised by New Jersey: $7 billion. Tax breaks promised by Illinois: $2 billion. Something is deeply wrong with our economy & democracy when local governments offer up their tax base to a corporation worth over $500 billion.

Nor is this really new. But, yes, if this is the American Way, then we might wish to wonder why.

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Image note: Top — Tweet by Rep. Keith Ellison, 18 January 2017.  Right — Rep. Keith Ellison. (Photo by Greg Nash)

Conley, Julia. “Keith Ellison: Desperate Bids for New Amazon HQ Prove Something ‘Deeply Wrong’ With America”. AlterNet. 19 January 2018.

Ellison, Keith. “Tax breaks to Amazon”. Twitter. 18 January 2018.

Your Republican Party: Policy Outlook Edition

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Sometimes the message couldn’t be any more clear:

With negotiators nearing an accord on permanent tax breaks for businesses worth $440 billion over 10 years, President Obama rallied Democratic opposition on Tuesday and promised a veto.

“The president would veto the proposed deal because it would provide permanent tax breaks to help well-connected corporations while neglecting working families,” said Jennifer Friedman, a White House spokeswoman.

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Left off were the two tax breaks valued most by liberal Democrats: a permanently expanded earned-income credit and a child tax credit for the working poor. Friday night, Republican negotiators announced they would exclude those measures as payback for the president’s executive order on immigration, saying a surge of newly legalized workers would claim the credit, tax aides from both parties said.

(Weisman)

Really, this is what it comes to.

Then again, this is what Americans wanted, right? It’s what they voted for.

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Weisman, Jonathan. “Obama Threatens to Veto $440 Billion Tax Deal”. The New York Times. 25 November 2014.