I'd like to see a tax free zone throughout all of NY.
I think you should ask the hundreds of businesses in Genesee County if they like the thought of paying for potential competitors to set up shop for practically nothing while they continue to pay for the services they'll use.
Cuomo even said that he recognizes he's picking winners and losers with this. So.....I'm going to go no on this.
Instead of all of these gimmicks, solve the problem!!!! Reduce local tax burdens, stop the out of control spending, privatize and consolidate services that are redundant or wasteful poof... and you don't need junk like this.
I feel this would leave the door open for kick backs, corruption, favoritism, and would cause a mixing of corporate and collegiate interests. Probably not a good idea.
I find it very disturbing the way NY operates....I know that all things in life aren't fair but all buisinesses in the state should pay the same percentage or whatever of taxes. I think part of the reason that some businesses (we have 2 in our family) pay so much in taxes is because they give so many breaks to chosen ones. It's ridiculous!
I understand the benefits of creating these beneficial zones - generate opportunities for businesses that meld nicely with the community they are in. In this case, it would be GCC. There is a similar zone attached to NC State in Raliegh, NC, and the businesses that have started or moved there have been some great additions to the community and job market.
The cons, though... how fair is it to Jones Software Co, which opened 3 years ago 2 miles from the new zone, to have Smith Software Co open in the tax beneficial zone? Sure, Smith may generate tax-paying jobs***, but if at Jones' expense, there is no gain.
It would be best if there we absolutely no such zones, anywhere. Real world, though, is that states are competing against each other and will use whatever means necessary to get that next factory or HQ built within their borders (of course, the PR generated benefiting the local pols has *nothing* to do with it).
This would only add another layer of government to decide who gets taxed and who doesn't..We think there are problems with IDA,s now ,just imagine the what this will bring. I agree with Christopher it will open the door for kick backs, corruption, favoritism, and would cause a mixing of corporate and collegiate interests. Why can't we lower the tax rates for all..Property tax rates are a problem for all of us,not just start up businesses..
What happens when the tax free period ends? Do you tell the businesses they have to move out so other new ones can start? Or after 10 years, no more tax free zones? How do you make sure workers are not fired at the end of their 5 year tax free period so others can be hired, but at a lower hourly rate because they don't have to pay taxes for 5 years?
Some that comment here are politically active, or have knowledge of taxes and business, therefore understand these concepts we are discussing. But 2 people today have asked me to simplify this, so let me also try to do this here so maybe more on the people reading but not participating in the discussion understand this.
Let's portray business A as a person who has lost a leg. Well here comes Gov Cuomo and gives that person an artifical leg, they then for 5 to 10 years go on to live life almost normally. Then after the 5 to 10 years the artifical leg is removed. Do you expect that person to still live life as normally as he did with the artifical leg?
Thats what NYS and GCEDC are doing here locally, they are providing "artifical legs" for businesses to stand on. GCEDC's tax breaks and now Cuomo's Tax free zone give them a chance to start up yes, but like the guy with no leg when the tax breaks expire, or the next Gov removes the Tax Free Zones then what happens. The businesses fail or the worker get cut either in pay or hours or lose their jobs outright.
All it does is look good to the public now, and provide financial band-aid's to arterial financial wounds. They are nothing but illusionists creating a magick trick for the public now.
What we are doing is setting ourselves up for another set of circumstances like we went through during the end of the industrial revolution. We will end up with businesses instead of factories closing, causing a depression once again that could devastate the local economies.
Look at whats happening now, full time jobs are beginning to disappear, as are on the job benefits. Some of you think your job is untouchable but realistically unless you have your own job and it's a one man (or woman) operation it's not. As soon as you need to hire help then the Govt obligates you to expenses that make it almost impossible to do so. Meanwhile those who dont need these tax breaks, or have the ability to pay their workers and provide benefits, get these tax breaks just to make for obscenely lg benefits and profits for themselves. It almost feels like the American Dream is dead, at least for anyone who wants to start from the ground up....
I think we need to avoid the gimmicky little tricks that are more PR than substance. Decreasing taxes across the board for everyone makes the most sense. It is also the most fair and simple solution. Creating new programs that allow politicians to pick winners and losers accomplishes one thing. It insures that power and control of the tax dollar remains with a handful of powerful people. Those people effectively use that power to grant favors to businesses or individuals who are willing to play the games the Governor invents. It's a win win situation for those playing the game. It is not such a sure bet for the tax payer.
I'd like to see a tax free
I'd like to see a tax free zone throughout all of NY.
I think you should ask the hundreds of businesses in Genesee County if they like the thought of paying for potential competitors to set up shop for practically nothing while they continue to pay for the services they'll use.
Cuomo even said that he recognizes he's picking winners and losers with this. So.....I'm going to go no on this.
Instead of all of these gimmicks, solve the problem!!!! Reduce local tax burdens, stop the out of control spending, privatize and consolidate services that are redundant or wasteful poof... and you don't need junk like this.
I feel this would leave the
I feel this would leave the door open for kick backs, corruption, favoritism, and would cause a mixing of corporate and collegiate interests. Probably not a good idea.
The loss of revenue for these
The loss of revenue for these "tax-free-zones" would have to be made up somewhere else.
So how is this going to keep business here in NY?
I find it very disturbing the
I find it very disturbing the way NY operates....I know that all things in life aren't fair but all buisinesses in the state should pay the same percentage or whatever of taxes. I think part of the reason that some businesses (we have 2 in our family) pay so much in taxes is because they give so many breaks to chosen ones. It's ridiculous!
I understand the benefits of
I understand the benefits of creating these beneficial zones - generate opportunities for businesses that meld nicely with the community they are in. In this case, it would be GCC. There is a similar zone attached to NC State in Raliegh, NC, and the businesses that have started or moved there have been some great additions to the community and job market.
The cons, though... how fair is it to Jones Software Co, which opened 3 years ago 2 miles from the new zone, to have Smith Software Co open in the tax beneficial zone? Sure, Smith may generate tax-paying jobs***, but if at Jones' expense, there is no gain.
It would be best if there we absolutely no such zones, anywhere. Real world, though, is that states are competing against each other and will use whatever means necessary to get that next factory or HQ built within their borders (of course, the PR generated benefiting the local pols has *nothing* to do with it).
This would only add another
This would only add another layer of government to decide who gets taxed and who doesn't..We think there are problems with IDA,s now ,just imagine the what this will bring. I agree with Christopher it will open the door for kick backs, corruption, favoritism, and would cause a mixing of corporate and collegiate interests. Why can't we lower the tax rates for all..Property tax rates are a problem for all of us,not just start up businesses..
As long as they're at it, why
As long as they're at it, why don't they just line up all of the current business owners and slap them across the face?
What happens when the tax
What happens when the tax free period ends? Do you tell the businesses they have to move out so other new ones can start? Or after 10 years, no more tax free zones? How do you make sure workers are not fired at the end of their 5 year tax free period so others can be hired, but at a lower hourly rate because they don't have to pay taxes for 5 years?
Some that comment here are
Some that comment here are politically active, or have knowledge of taxes and business, therefore understand these concepts we are discussing. But 2 people today have asked me to simplify this, so let me also try to do this here so maybe more on the people reading but not participating in the discussion understand this.
Let's portray business A as a person who has lost a leg. Well here comes Gov Cuomo and gives that person an artifical leg, they then for 5 to 10 years go on to live life almost normally. Then after the 5 to 10 years the artifical leg is removed. Do you expect that person to still live life as normally as he did with the artifical leg?
Thats what NYS and GCEDC are doing here locally, they are providing "artifical legs" for businesses to stand on. GCEDC's tax breaks and now Cuomo's Tax free zone give them a chance to start up yes, but like the guy with no leg when the tax breaks expire, or the next Gov removes the Tax Free Zones then what happens. The businesses fail or the worker get cut either in pay or hours or lose their jobs outright.
All it does is look good to the public now, and provide financial band-aid's to arterial financial wounds. They are nothing but illusionists creating a magick trick for the public now.
What we are doing is setting ourselves up for another set of circumstances like we went through during the end of the industrial revolution. We will end up with businesses instead of factories closing, causing a depression once again that could devastate the local economies.
Look at whats happening now, full time jobs are beginning to disappear, as are on the job benefits. Some of you think your job is untouchable but realistically unless you have your own job and it's a one man (or woman) operation it's not. As soon as you need to hire help then the Govt obligates you to expenses that make it almost impossible to do so. Meanwhile those who dont need these tax breaks, or have the ability to pay their workers and provide benefits, get these tax breaks just to make for obscenely lg benefits and profits for themselves. It almost feels like the American Dream is dead, at least for anyone who wants to start from the ground up....
I think we need to avoid the
I think we need to avoid the gimmicky little tricks that are more PR than substance. Decreasing taxes across the board for everyone makes the most sense. It is also the most fair and simple solution. Creating new programs that allow politicians to pick winners and losers accomplishes one thing. It insures that power and control of the tax dollar remains with a handful of powerful people. Those people effectively use that power to grant favors to businesses or individuals who are willing to play the games the Governor invents. It's a win win situation for those playing the game. It is not such a sure bet for the tax payer.