The Nation's Financial Condition

[a fan]

HootDat-----you ready to pay Amazon's taxes for them? Crystal City for the new HQ.

Same for the rest of you in NYState-----ready to pucker up and pay?



GGait----has anyone ever sued over these tax deals that benefit one single taxpayer under 14th Amendment grounds?

[frmanfan]

It will be interesting to see if the cities that "won" claim foul, and try to back out of some of the deals they offered. Or is half a (mud)pie better than none?

[foreverlax]

As Wisconsin how they feel about their Foxconn deal.

[HooDat]

Nothing pisses me off more than tax deals and cities building sports stadiums. No one built my office building and then gave me a large cut of the rental revenue....

THIS is why we need a revenue tax. Every transaction, at every level, every time. No corps avoid taxes, no foreign companies avoid taxes, no tourists avoid taxes. Pay as you spend... perfectly progressive.

As afan always says: why do we "punish" success???

[a fan]

I'm overjoyed that Denver "lost" the bid.

Same goes for the freaking Olympics------hoping to "lose" on that financial boondoggle, too.

This tax perq crap is the A#1 example as to how the Republican party has lost its way completely. Fiscal conservatives would NEVER sign on for this special treatment crap, and the half wit math used to "justify" the breaks.

If the the Republican party doesn't stand for fiscal responsibility and small government anymore---what DOES the party stand for, and how is this not liberalism?

[foreverlax]

“That’s the only time I’ve ever agreed with Alexandria Ocasio-Cortez, but it’s hard to argue with the internal logic of her point. The richest man in the world just got $2 billion in taxpayer subsidies? How does that work?” he added.

Tucker Carlson....wonder how he felt about giving $4b to a billionaire from China?

[foreverlax]

Crony Capitalism: Democrats Give Away $2 Billion in Welfare to Amazon - Nolte

"From New York, Amazon will receive tax breaks of $1.525 billion in exchange for building a four million square foot facility in Long Island City that includes 25,000 jobs high-paying jobs."

"Basically, it will cost the taxpayers of New York $48,000 for each one of those jobs."

"Virginia has offered Amazon $573 million in exchange for a guarantee of 25,000 jobs."

"What’s more, how much control will these mammoth new HQs enjoy over its employees, and how will this control affect non-employees (i.e., American citizens) caught in this mammoth land grab?"
_____________________________________
Other facts of Foxconn deal
with average comp at $150k

"While the initial projections anticipated that 75% of the employees would be assembly workers and 25% engineers, Foxconn now projects an employee mix of 90% engineers, including sales and marketing employees, and fewer than 10% assembly workers."

In short, much has changed over the past year, and it is now clear that the proponents of the huge Foxconn subsidies package relied on flawed assumptions for the original sales pitch. Now that we can see that Foxconn’s plans are far more fluid than originally presented, we should not be surprised if Foxconn asks the state to renegotiate parts of the deal. If or when that happens, state and local policymakers need to be far more careful and deliberative than they were when proponents of the massive subsidy package rushed it through the legislature a year ago.

American Workers Thank Trump as Manufacturing Plant Breaks Ground: ‘Me and My Family Are Grateful - Nolte

$4.1b in subsidy to get a $10b investment

13k jobs expected to be created
so $315k per job.
_______________________________________________
Same Breibart author, similar situations....hypocrite icon_puke .

[dislaxxic]

We all certainly want the economy to do well... but...

"Fiscal stimulus from the GOP tax cuts is likely to start running out. The Federal Reserve is expected to keep bumping up interest rates. And few analysts expect a divided Congress — facing soaring deficits and with its eyes on 2020 — to join hands and pass a big infrastructure package or sweeping middle-class tax cuts to keep the fiscal juice flowing.

The collection of all these factors, coupled with jittery investors already worried about trade wars and a global slowdown, could deny Trump the kind of big economic growth numbers he loves to celebrate. And they could undercut one of the GOP’s biggest current arguments: You may not love what Trump says or does, but the Trump economy is awesome."

The current Sugar High economy sure didn't help the GOP in this last election, did it?

..

[a fan]

And they could undercut one of the GOP’s biggest current arguments: You may not love what Trump says or does, but the Trump economy is awesome."

The current economy is "awesome" if you're a child, and don't understand that borrowed money needs to be paid back.

The current economy is as if your wife borrowed $100K without letting you know, and told you "she got a raise".

Debt for businesses, consumers, and US government entities are at frightening levels. And as usual, financial analysts aren't paying attention. And now that China is slowing....

We're in a bubble, folks. Again.

[youthathletics]

I was in Crystal City yesterday on the 14th floor, looked North out the window across the Potomac River with the Capitol insight and counted around 14 tower cranes, I have not seen anything like that since the late 90's early 2k's...around the dotcom boom. Hard to see in this picture, but this is just a sliver of my view. Many of those cranes are building high rise condo/apts, some of the Wharf renovation project, and some surrounding the new soccer stadium area. Interestingly enough, these high rise condo/apts are also reserving rooms for "Air BnB type sales...playing a new arena.

Calling it a bubble makes sense to a degree, because honestly many of these companies just seem like fronts for something else. Almost like a shell game of sorts as major corporations have spin-offs as a place to move money, then when the market dies for that niche, they file bankruptcy, then buy it back for pennies on the dollar.

[a fan]

The Onion won't last the year when there are real headlines like this one....

Headline: Chinese-owned pork producer is getting U.S. bailout money to protect it from China's tariffs


Oh yeah, China should cave from Trump's brilliant strategy aaaaaany moment now. Are all of you enjoying your more expensive metals yet? I know I am!

Best part is reading criticisms of Bernie Freaking Sanders. Which would you rather have? Free college for your kid? Or cutting Billions of dollars of checks to select businesses for no reason whatsoever.

I know my choice. Republican voters are either utter morons, or have totally lost their minds. Pick one.

The Trump administration has authorized $12 billion in overall spending for the bailout program, including direct cash payments to farmers, particularly soybean producers.

$12 Billion in cash----straight cash---to select businesses, for no reason at all. And yet we couldn't come up with money to help Flint. Or to help Puerto Rico. American citizens dealing with threats to life and limb. And you guys wonder why organizations like BLM have arrived.


http://www.latimes.com/business/la-fi-s ... 78OGqi9ZwQ

[youthathletics]

Feds Collect Record Taxes in October; Still Run $100B Deficit

The $8 billion in corporation income tax revenues the Treasury collected this October is the largest amount since October 2015, when the Treasury collected $10,893,630,000 (in constant October 2018 dollars) in corporation income taxes.

Seems that with some tweaking after getting our military shored up, we should be able to close that gap in say.....6 years.

[a fan]

What math are you basing this 6 years on?

The deficit is up 32% in one stupid year. That's with the economy expanding because of the Trillions in borrowed money pumped into the economy.

You can't possibly think that this momentum is going to continue for 6 straight years. What's going to happen is, the economy is going to slow.

And what do you think will happen to both receipts and the deficit when the economy slows?


In order for your "we'll make it up on volume" silliness to work, the economy needs to go waaaay up from where it is now. NO ONE thinks that is going to happen. Not even Larry Kudlow. So we're left with "the deficit is going to get worse, not better".

And I'm willing to wager whatever you'd like that that's what's going to happen. I've been right (like it's hard to predict) about this stupid Tax Cut from the word go. What the heck needs to happen for you to realize that "nope, this cut won't pay for itself, and in fact, is making our deficit far, far worse"??

Wait, wait: I've got it. Someone with a little D by his name has to take the White House!

[HooDat]

all that money, and NONE of it going into infrastructure...... bang1

what the heck are we doing? It's like your wife borrowed $100,000 says she got a raise and then you go spend the money on a trip - so when you get home all you have to show for it is the memories.....

[dislaxxic]

Republican voters are either utter morons, or have totally lost their minds. Pick one.

OH! OH! I know this one...wait...wait...ARGH, it's right on the tip...oh! wait...umm, umm... #!&*#@+!*

..

[a fan]

all that money, and NONE of it going into infrastructure...... bang1

what the heck are we doing? It's like your wife borrowed $100,000 says she got a raise and then you go spend the money on a trip - so when you get home all you have to show for it is the memories.....

Infrastructure and Veteran's bennies are the two things that baffle me when it comes to Congress.

If you're a corrupt, pandering, self-serving Congressman is there an easier way to give your supporters Billions of dollars than Infrastructure spending? I have NO CLUE how this isn't 5% or more of our budget. Instead, they fight to reduce it. I don't get it. At all. Not to mention that aside from the military, it's the one thing that even staunch libertarians believe is a necessary trapping of government. Don't get it.

And as for Veterans, who the hell would complain if they got Cadillac medical care? No one. So why don't they budget for that? Who would complain if taxes were raised to pay for Veteran care? Again, no one. Don't get why it's a problem.

[cradleandshoot]

What math are you basing this 6 years on?

The deficit is up 32% in one stupid year. That's with the economy expanding because of the Trillions in borrowed money pumped into the economy.

You can't possibly think that this momentum is going to continue for 6 straight years. What's going to happen is, the economy is going to slow.

And what do you think will happen to both receipts and the deficit when the economy slows?


In order for your "we'll make it up on volume" silliness to work, the economy needs to go waaaay up from where it is now. NO ONE thinks that is going to happen. Not even Larry Kudlow. So we're left with "the deficit is going to get worse, not better".

And I'm willing to wager whatever you'd like that that's what's going to happen. I've been right (like it's hard to predict) about this stupid Tax Cut from the word go. What the heck needs to happen for you to realize that "nope, this cut won't pay for itself, and in fact, is making our deficit far, far worse"??

Wait, wait: I've got it. Someone with a little D by his name has to take the White House!

Have no fear a Fan... in a few short months the Democrats will control the purse strings and all of this insane spending will stop... Fiscal sanity will soon rule the land. Please, please a Fan be sure to get back with us all as to how that works out. Spoiler alert... you and I both already know the answer. Where I live it is called same sheet... different day

[HooDat]

Who would complain if taxes were raised to pay for Veteran care? Again, no one. Don't get why it's a problem.

it's a problem because the US military industrial complex doesn't make money putting soldiers back together, it makes money selling really expensive toys that rip them apart.....

[runrussellrun]

I was in Crystal City yesterday on the 14th floor, looked North out the window across the Potomac River with the Capitol insight and counted around 14 tower cranes, I have not seen anything like that since the late 90's early 2k's...around the dotcom boom. Hard to see in this picture, but this is just a sliver of my view. Many of those cranes are building high rise condo/apts, some of the Wharf renovation project, and some surrounding the new soccer stadium area. Interestingly enough, these high rise condo/apts are also reserving rooms for "Air BnB type sales...playing a new arena.

Calling it a bubble makes sense to a degree, because honestly many of these companies just seem like fronts for something else. Almost like a shell game of sorts as major corporations have spin-offs as a place to move money, then when the market dies for that niche, they file bankruptcy, then buy it back for pennies on the dollar.

Argued with several friends in the Real Estate bizz in the Nations capitol, who also left "traditional" religions and became gravity believers (aren't we all ) These believers in global warming (it STILL is, isn't it) spout off about sea level rize. I laugh, and then get serious. Yeah, yeah....the usual "most expensive" real estate is waterfront. BUT, the construction that is being allowed in SE is hypocritical. Using TODAYS FEMA flood maps, about 70% of the SE, where the cranes are, is a FEMA flood zone. In 2018.

The Potomac won't rise though........b/c they say so. Meanwhile, best use bamboo floors and force everyone to use LEED certification.........we care alot

It's only the hypocrites, honey, just them

[foreverlax]

A Trade Deficit Isn’t A Mortgage

“Running up a trade deficit every year . . . of over half a trillion dollars,” Mr. Navarro said, is “a pure transfer of wealth abroad: jobs, factories, money. That’s like a reverse mortgage on this country.”

Navarro is really a moron....clearly he doesn't understand trade or reverse mortgages.