It looks like you're using an Ad Blocker.
Please white-list or disable AboveTopSecret.com in your ad-blocking tool.
Thank you.
Some features of ATS will be disabled while you continue to use an ad-blocker.
originally posted by: xuenchen
originally posted by: CharlesT
a reply to: neo96
Amazon's federal tax liability this year as well as last is $0.00
Hmmm
Amazon Financial Statements show they paid plenty of taxes...
Amazon
Taxes Paid
originally posted by: Edumakated
originally posted by: pexx421
a reply to: CriticalStinker
You are incorrect. The spectrum has a pretty clear statistically significant divide.
blogs.cfainstitute.org...
“Red and blue states are very different — economically speaking.
This is where a recent study by David C. Parsley and Helen Popper comes in. The duo investigated the differences between red and blue states much more thoroughly than my friend and I did over a couple of beers.
So what did they find?
Red and blue states vary so much in their economic trajectories that they may as well be two distinct countries within the United States.
First, blue states have enjoyed higher economic growth rates on average than red states since the Great Recession. Since the mid-2000s, the business cycle of blue states has increasingly diverged from that of their red counterparts.
The average disparity in GDP growth between red states and blue states has hovered around 3.5% since the recession ended. For comparison, a previous study of 20 developed nations found an average GDP convergence among them of only 1.75%.
Differences in GDP growth also lead to differences in household income and household consumption — i.e., in living standards. Luckily, there are several transfer mechanisms that mitigate these gaps in GDP growth so that consumption shortfalls in red states amount to only about one-fifth of the growth deficits.”
CA has Silicon Valley. Oregon and WA are basically silicon valley outposts at this point. NYC is driven by Wall Street.
Again, many companies that are the economic engines in these "blue states" are getting the f*ck out because of the taxes. NY, CT, and NJ are losing top financiers to Florida at an alarming rate because of taxes. CT has a budget short fall because one or two billionaire hedge fund guys packed up and moved to Florida. They don't need to be on "Wall Street" anymore because they can do everything online.
The Bulge Bracket Wall Street Banks (Goldman, JPM) and the smaller boutiques like Blackstone, Lazard, and others that most of you have never heard of are entrenched in NYC. The entire economy of NYC is based around Wall Street. Fashion and entertainment is a contributor, but NYC lives and dies by Wall Street. However, even most of these banks have offices in other cities, but their infrastructure is in NYC so it is much harder for them to pack up and leave.
Companies in Silicon Valley stay there because it is hard to find top programming talent in the numbers they need. In addition, VC funds (Sand Hill Road) set up shop there so you have to be there if you are seeking early stage funding. Sure other cities have VC / PE funds but the biggest players are still in Silicon Valley.
Companies and people are leaving in droves out of these states to cheaper areas.
originally posted by: jjkenobi
I'm against taxes in nearly every scenario.
But it really blows when small businesses get taxed to hell and back and can't afford to hire one or two extra employees and then scenarios like Amazon also happen.
originally posted by: Quetzalcoatl14
It turns out a minor in economics, not major.
a reply to: queenofswords
originally posted by: Quetzalcoatl14
That’s the thing, there is far more wealth and economic production in ny and ca than the majority of states.
a reply to: Xcalibur254
originally posted by: pexx421
originally posted by: Edumakated
originally posted by: pexx421
a reply to: CriticalStinker
You are incorrect. The spectrum has a pretty clear statistically significant divide.
blogs.cfainstitute.org...
“Red and blue states are very different — economically speaking.
This is where a recent study by David C. Parsley and Helen Popper comes in. The duo investigated the differences between red and blue states much more thoroughly than my friend and I did over a couple of beers.
So what did they find?
Red and blue states vary so much in their economic trajectories that they may as well be two distinct countries within the United States.
First, blue states have enjoyed higher economic growth rates on average than red states since the Great Recession. Since the mid-2000s, the business cycle of blue states has increasingly diverged from that of their red counterparts.
The average disparity in GDP growth between red states and blue states has hovered around 3.5% since the recession ended. For comparison, a previous study of 20 developed nations found an average GDP convergence among them of only 1.75%.
Differences in GDP growth also lead to differences in household income and household consumption — i.e., in living standards. Luckily, there are several transfer mechanisms that mitigate these gaps in GDP growth so that consumption shortfalls in red states amount to only about one-fifth of the growth deficits.”
CA has Silicon Valley. Oregon and WA are basically silicon valley outposts at this point. NYC is driven by Wall Street.
Again, many companies that are the economic engines in these "blue states" are getting the f*ck out because of the taxes. NY, CT, and NJ are losing top financiers to Florida at an alarming rate because of taxes. CT has a budget short fall because one or two billionaire hedge fund guys packed up and moved to Florida. They don't need to be on "Wall Street" anymore because they can do everything online.
The Bulge Bracket Wall Street Banks (Goldman, JPM) and the smaller boutiques like Blackstone, Lazard, and others that most of you have never heard of are entrenched in NYC. The entire economy of NYC is based around Wall Street. Fashion and entertainment is a contributor, but NYC lives and dies by Wall Street. However, even most of these banks have offices in other cities, but their infrastructure is in NYC so it is much harder for them to pack up and leave.
Companies in Silicon Valley stay there because it is hard to find top programming talent in the numbers they need. In addition, VC funds (Sand Hill Road) set up shop there so you have to be there if you are seeking early stage funding. Sure other cities have VC / PE funds but the biggest players are still in Silicon Valley.
Companies and people are leaving in droves out of these states to cheaper areas.
And your point is what? Florida is booming? No, it’s a #hole like Louisiana where industry makes tons of money and the population gets no benefit. And your description still gives no explanation why the red states across the board are and have been worse off than blue states. Except to say “oh, in my expert opinion that won’t continue”. Profound.
originally posted by: neo96
a reply to: CriticalStinker
But it's 40,000 people paying income, and property taxes times the 6 degrees of separation spending money that other business that have employees also pay income and property taxes to the tune of $27 billion dollars.
On top of the TAXES AMAZON pays the fed's.
ALL those people get tax breaks just like Amazon.
originally posted by: Quetzalcoatl14
Except CA has a diverse economy and did prior to Silicon Valley. www.newsmax.com...
a reply to: Edumakated
AOC Celebrates "Defeat" Of World's Richest Man's "Worker Exploitation" As Amazon Abandons NY.