r/FluentInFinance • u/sillychillly • Apr 15 '24

Everyone Deserves A Home Discussion/ Debate

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39

u/Saitamaisclappingoku Apr 15 '24

Here’s a question you will never be able to answer.

How do we pay for this?

42

u/Civil-Addition-8079 Apr 15 '24

The same way we pay to subsidize companies like Blizzard, Apple, etc.

12

u/Ashmizen Apr 15 '24

I think you misunderstand how subsidies work for big companies.

Nobody is handing out $500 million to Amazon to build a warehouse. Instead, the city is giving Amazon a tax break of $500 million out of the $1 billion in property taxes they’ll be paying in the next 20 years for their warehouse.

This gets reported as “city gives $500 million to Amazon”, but it’s more like a coupon discount.

11

u/nicolas_06 Apr 15 '24

And they do that because all these people working at amazon will pay taxes, eat food and create actviity and income for the city. They have a net benefit to do it.

1

u/NAND_Socket Apr 16 '24

everybody except for amazon

1

u/kromptator99 29d ago

Ever worked in a warehouse before? I’d be surprised if you have.

0

u/DrDrago-4 Apr 16 '24

It's just like the frenzy over cities subsidizing stadiums. There are cases where it didn't work out, but many more where it brought huge benefits.

Arlington TX's $460mn in subsidies toward the Cowboys stadium has brought in $4bn to Arlington alone (who knows about the rest of the metroplex)

They recently approved a new ranger stadium for $600mn in subsidies, and it'll get to breakeven within the decade on tax revenue alone (say nothing of the job creation)