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2018-11-19 07:15 by Karl Denninger
in Company Specific , 105 references Ignore this thread
Spamazon, NYC and N. VA
[Comments enabled]

Who do these clowns think they're fooling.

Obviously, several million US Citizens -- none of whom have risen up in revolt over the outrageous behavior and outright theft committed in the "HQ2" deal.

Let's be clear about this: Tax "incentives" mean that some entity does not pay the taxes everyone else does on the exact same activity.

Such actions by government officials are per-se unconstitutional since they violate equal protection under the law.

But more to the point they're theft from the rest of the taxpayers -- and there are always more of the latter than the beneficiaries.  This, in turn, means that in every case such an attempt should be met by an immediate revolt -- peacefully if possible and by whatever means necessary if not until said theft is reversed.

Several billion dollars is being siphoned off from everyone else in the area of these two "new" headquarters buildings and given to Amazon.  Couch such an action in any sort of flowery language you wish but the facts are that it is nothing more than raw theft from the least-able to afford it so Jeff Beelzebezos can have even more money.

Occasional Cortex actually spoke similarly recently -- the first intelligent political statement I've heard her make, ever.  When you're right, however -- you're right -- no matter how much of a lunatic you might be otherwise.  When someone like her "gets it" so must millions of others so why is everyone sitting on the couch instead of grabbing their pitchfork and torch?

The real question at-large is why the millions of people who will see no benefit from such a move -- and that's the majority folks, as unless you happen to own property in the immediate area (which will likely see housing prices, for example, rise precipitously) odds are the cost of this give-away will be dramatically more than the few billion handed out.

If you rent your housing you're likely to be particularly screwed; not only will you see rents rise in "gross" terms the property tax gift to Amazon will mean property taxes on everyone else will rise, and as a renter you will pay all of that as the landlord must and will pass that straight through to you when your lease comes up for renewal.  There is no offsetting "benefit" that you will obtain out of this transaction; that's going to be all cost, and it will hammer the living hell out of people of lesser means -- those below the median local income -- the worst.

There is literally no reason for anyone to contemplate "defending" this nation and the Rule of Law any longer; since the announcement I've seen exactly zero push-back of any form, peaceful or otherwise, among the several million residents of both New York and Northern Virginia that are going to take it up the chute as a result of this outrage.

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