Democratic Primaries
In reply to the discussion: Jeff Bezos' income per day: $215 million [View all]Blue_true
(31,261 posts)Your new roof is a good example. Say you pay $50,000 for a new roof. The big corporation down the nearest highway to you buys a $7 million dollar machine. You new roof increases the valuation of your property, you likely end up paying more on property taxes, which under the tax scam, are no longer deductible to any meaningful degree - you only benefit from the new roof if you sell the higher value house. The corporation can immediately write off 20% of the machines price and save on taxes, also, because the company's local taxation issue is so complex, it likely pays nothing more in property taxes and likely get a tax break for locating to the state and city. So the deck is stacked in favor of the company.
I was recently at a city zoning meeting in my predominantly red city (actually trending more purple now). There was a large land trac proposal being discussed. What struck me was the chairman of the zoning board, who I had assumed was a staunch republican, asked out loud whether the buyer of the land trac would want tax breaks to make the project viable, his point was the city seemed to be giving out a lot of tax breaks and maybe should reconsider that policy. The guy's point stunned me, I didn't expect to hear such a thing from anyone on a red city's zoning board.
primary today, I would vote for: Joe Biden