Comments by "whyamimrpink78" (@whyamimrpink78) on "Lindsey Graham: Use School Money For The Wall" video.

  1. 3
  2. 2
  3. 2
  4. 2
  5. 2
  6. 1
  7. 1
  8. 1
  9. 1
  10. 1
  11. 1
  12. 1
  13. 1
  14. 1
  15. 1
  16.  @AmineSamus , again, you don't know what tax credits are. NYC is not giving them money, they are giving them a discount on taxes.  https://www.thebalance.com/refundable-tax-credits-3193462 https://www.nycedc.com/program/relocation-and-employment-assistance-program In order to take advantage of those tax credits Amazon will have to......wait for it......pay taxes to begin with. It isn't that if NYC had the money sitting there and they were going to give it to Amazon. What NYC was going to do was give them a discount on the taxes they would pay. To give a simple example, say Amazon would have to pay $10 billion in taxes if they did business in NYC. But NYC gave them the $1 billion in REAP (keeping it simply we will look at one of the tax credits). When they file for taxes and it has them paying $10 billion, they will get $1 billion in return so they only have to pay $9 billion in the end. That means throughout the year while they are paying taxes they will pay $10 billion. When they file for taxes NYC will give them back $1 billion of it. That is what a refundable tax credit is. Amazon will give NYC the money first and than NYC will give a portion of it back. Right now NYC has zero dollars with this deal with Amazon. They have not given Amazon money as they did not have money for this deal. Now, after this, NYC still has zero dollars. Kyle is completely wrong on this. NYC was not giving money to Amazon, they were giving them tax credits which is essentially a discount. It is similar to you where you pay taxes all year and after you file if you have certain write offs you get a refund. You pay the taxes first and then get the money back. And there is great reason to ask for discounts like this. These are not subsidizes. Please study more economics.
    1
  17. 1
  18. 1
  19. 1
  20. 1
  21. 1
  22. 1
  23. 1
  24. 1
  25. 1
  26. 1
  27. 1
  28. 1
  29. 1
  30. 1
  31. 1
  32. 1