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vuduchile

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vuduchile last won the day on January 23

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  1. Finally caught this on PPV Glad I only spent $5.99 on it. Yeah, the lead guy looks and sings like Freddie, and it was mildly interesting to learn how some of their songs came together. But overall, the movie is just a choppy, uninteresting mess.
  2. I’m amazed Daley lasted as long as he did and came out relatively unscathed. He was somehow a master at insulating himself from it all. In the end, his policies and shenanigans basically left the city insolvent. Rahm was obviously not up to the task of turning it around.
  3. vuduchile

    Amazon not coming to NY

    C'mon man. $20 billion in customer discounts. MORE THAN DOUBLE THEIR LIFETIME PROFITS! Spent millions on teams of lawyers, and lobbyists to keep the status quo. Fought tooth and nail to delay the inevitable for as long as they could. But no. It wasn't part of their strategy. Do you work for Amazon or something?
  4. vuduchile

    Amazon not coming to NY

    You're kidding yourself if you believe Amazon wasn't counting on people avoiding sales tax as a part of their business strategy. Here's an interesting take on it: As its business expanded, Amazon’s CEO Jeff Bezos treated this anomaly as an inherited right and deployed the classic techniques of rent-seeking to protect his advantage. He spent millions of dollars per year on lobbyists, deployed an army of lawyers, and cultivated political allies with large campaign contributions. Diffuse and vulnerable, the mom-and-pop shops disrupted by Amazon lacked the capacity to make their case effectively. Nor was there any customer constituency for tax collection, even though the same consumers paid indirectly through diminished public services. At the state level, Amazon became a litigious bully, an instance of the modern corporation powerful enough to dictate terms to impoverished sovereigns. When challenged over the collection of taxes, it warned that it could take thousands of jobs elsewhere. As California teetered near bankruptcy a few years ago, Amazon cut ties with local affiliates and threatened to fund a public referendum to overturn the legislature’s decision to make it pay tax. Its strategy devolved into simply delaying the inevitable for as long as possible. When a state looked likely to win in court, Amazon would negotiate and agree to collect taxes, provided that it didn’t have to start for a few more years. Essentially, Amazon has become so dominant that it no longer cares to fight, leaving its worn-out briefs to eBay and Overstock.com. It has played out the clock longer than it dared hope and would now like to be able to build warehouses everywhere without doing state-by-state battle over its “physical presence.” In other words, this is not a case of Congress finally choosing to act. It’s a case of the owners finally giving it permission to do so.
  5. vuduchile

    Amazon not coming to NY

    Mail order catalogs were the front runners for sure. I've never seen any studies about lost sales tax from mail order catalogs though. One difference between Amazon and the Sears Catalog or any other catalogs connected to brick and mortar stores is that Sears had physical stores all over the US. This compelled them to collect sales tax on any orders going to a state where they had a store.
  6. vuduchile

    Amazon not coming to NY

    This is correct. All online retailers benefited from the sales tax laws where they could.
  7. vuduchile

    Amazon not coming to NY

    Bad analogy. Except for Christmas lights and yard maintenance, I'm not in competition with my renting neighbors. How can you not see that the law created an unfair trading advantage for Amazon vs Brick and Mortar stores? Why do you think the Supreme Court overturned it?
  8. vuduchile

    Amazon not coming to NY

    Technically, the Supreme Court created the situation with their '92 ruling in Quill Corp v North Dakota But Bezos, Amazon AND their customers leveraged that loophole for a long time. Long enough to become dominant. They've also managed to avoid income tax all over the world through their aggressive tax planning strategies. I assume you already know all this. Aren't you a tax guy of some sort? Dean Baker and Evan Butcher did a rough calculation showing that if Amazon had always been required to collect sales taxes, it would have collected a total of $20.4 billion in sales taxes from its founding in 1994 through 2015, which is more than twice its lifetime profits of around $9.1 billion. That's effectively $20 billion in discounts to their customers.
  9. vuduchile

    Amazon not coming to NY

    Of course not And neither did 99% of all amazon users. Amazon AND it’s customers exploited that loophole for 20 years. Customers saved money by buying there, and Amazon gained market share because of it Those days are over but it doesn’t erase the years of competitive advantage Amazon enjoyed due to the tax loophole Nobody envisioned an online retailer selling nearly every imaginable product and service online back in 92 Except maybe Bezos Amazon does not need anymore help from our government They’re just fine
  10. vuduchile

    Amazon not coming to NY

    Amazon exploited the sales tax loophole that didn’t require them to charge sales tax to customers when shipping to most states where they had no physical presence. As I said before. Good for them outsmarting the tax man and gaining a competitive advantage in doing so. Last year, the Supreme Court overturned the 1992 ruling giving states authority to demand online retailers collect and remit sales taxes
  11. vuduchile

    Amazon not coming to NY

    Of course they don’t pay it. And neither did their customers for 20 years. But brick and mortar stores who made an investment in the state where they sold had to charge it. That was an average of 6% off when you purchase from amazon vs a brick and mortar.
  12. vuduchile

    Amazon not coming to NY

    Who's acting like that? Nobody said Amazon was the first behemoth to seek and receive incentives. They just happen to be the latest, and highest profile example. I believe it's a bad system As tbbom said, let states create an economic environment that's fair and equitable for all, then I'd be fine with it. Some sorta tax rebate for every sf of developed commercial space and each new job created. Plus, not all corporations keep their promises. Foxconn: $4.5 billion for 13,000 jobs, the rough equivalent of Wisconsin paying 30% of Foxconn's payroll for 15 years, Last week, the company said it won't build the plant. Then, after a reported conversation between the company and President Trump, it said it actually will. No one knows what will happen next. In a new investigation, Bloomberg reports that Foxconn's promises were never realistic. In the past, the company has failed to deliver on such pledges in Brazil, India and Pennsylvania, per Bloomberg. Comerica took a $3.5 million grant from the city in 2007 on the condition of adding 200 high-paying jobs, Comerica went back to Dallas in 2012 with an amended offer. The company wanted to count the relocation of 16 executives — the CEO among them — as part of the total job number, in addition to positions created at two subsidiaries. Comerica also included substantial executive salaries when calculating the average compensation of the added jobs. Evergreen Solar received a $58 million grant commitment to build a plant in Massachusetts, but eventually scrapped construction plans. The state recovered just $3 million of $21 million Evergreen had already received Since the 1990s, the typical size of a corporate tax break has tripled, and although these incentives are open to all businesses, 70% of the deals and 90% of the dollars go to big companies. Don't even get me started on the automakers: https://www.autonews.com/article/20181203/OEM01/181209951/gm-may-keep-cashing-in-michigan-tax-credits-after-cuts-closures At the same time, the Snyder administration signed a nondisclosure agreement with GM to shield the value of the automaker's tax credits from public disclosure -- a deal some lawmakers with GM plants in their districts want to re-examine.
  13. vuduchile

    Amazon not coming to NY

    This is my view in a nutshell. I want the govt to stay out of the way as much as possible and let the market dictate winners and losers The little guys have to make it on their own and fend for themselves with no breaks whatsoever. Yet they have to comply with all the same bullshit regulations from local municipalities, state govt, OSHA, EPA etc as the big guy As a start up, Amazon took advantage of interstate commerce sales tax regs and rode that built in discount for 20 years. They managed to outsmart the tax man. Fine. But no more handouts for them. They’ve had more than enough.
  14. vuduchile

    Amazon not coming to NY

    I see this from a certain point of view, so my opinions should be consisdered with that in mind. Amazon’s biz model is an obvious success. Great. Good for them. They’ve wiped out some little guys along the way and that’s alright. It’s capitalism. But there’s absolutely no need to fund their further expansion with taxpayer money. As I’ve said, they’re near the monopoly line already. They’ll create most of those lost NY jobs in VA , TN and other tech hubs anyway Tough luck for LIC, but good for the USA
  15. vuduchile

    Amazon not coming to NY

    Dress it up however you want. Amazon was trying to extract public funds for their own enrichment. Of course they’re not the only company to do so. But why should these big companies get all these favors that give them even more competitive advantage? They create jobs and the net profit to the state might look positive on the surface, but these incentives are really just corporate welfare These state vs state bidding wars are a zero sum game for the nation as a whole. If a corporation needs to will build facilities and create jobs to grow their business, by all means, they should do so. On their own dime Enough is enough already.
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