Prof. Richard Wolff explains why the $3 billion subsidy for one of the world’s largest corporations is a terrible waste of public money

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31 thoughts on “Amazon Gets $3 Billion in NY Tax Breaks While Underfunded Public Transport Enters ‘Death Spiral’”
  1. Correct me if I'm wrong, but isn't it only that valuable because investors( gamblers) make it that valuable. Walmart does way more money. But has we learned from the last recession, money can disappear. Never will understand that, I guess. They certainly don't pass it down. Wish I knew how MySpace can be taken out by Facebook. Example. Or Kmart by Wal-Mart. Money seems to shift and disappear. Only thing is certain, the slaves want benefit. Makes me ponder what is money really

  2. Bezos is rich but he's ugly as well. How would you like to look like an alien? The only thing missing are two horns on his head. By contrast, Richard Wolff is the greatest, and looks nice too.

  3. Wonder if striking Amazon workers could bring Bezos down… his relationship with the CIA is ominous.  I have boycotted Amazon for 5 years.  One or two days of nation-wide boycott would surely send Bezos a strong message.  Hats off to all the Amazon workers in other parts of the world who are striking!  Bezos is the most blatant and odious example of socialism for corporations, but not for the People.   #JeffBezosWelfareRecipient.

  4. While I would agree that Amazon deserves NO tax breaks or subsidies, the NYC police refusal to prosecute subway fare jumpers spits in the face of decent people who pay the fare. OF COURSE the public transit system is in a "death spiral". Fare jumpers should be jailed and then banned from subway access for at least a year. It doesn't matter that subway fare enforcement would have a "disparate impact" on some demographic groups. Do selected demographic groups now get a pass to commit crimes with impunity?

  5. This is where Dr Stephanie Kelton comes in. This is why ALL of US need to understand how Federal finances works. This is why WE all need to educate ourselves with the description of MMT. MMT is merely a description of how federal finances works. It doesn't need to be implemented it all ready works the way MMT describes it.
    Article one section 8 of OUR Constitution states that only Congress can Mandate spending and taxation.
    We have been seeing a capitalists coup going on for the last 50 years and it is nearly complete.
    Richard Wolff is absolutely correct when he describes that the way the State has now list 3 billion in their tax revenues, because individual States DO NOT create the currency. …they rely on taxes to spend on their State and communities.
    Dr Stephanie Kelton was Bernie Sanders financial advisor during the primary. The real news DID interview her but they need to bring her back.
    People of this country need to understand the lie we ALL have been told before it really is to late.
    Please be respectful to my comment.
    If anyone has a question feel free to ask. Peace.

  6. The entire western world is now fully controlled by corporate interests. In Canada most of our tax dollars is spent subsidizing corporations while all Canadians are just forever grossly over taxed. Eventually people will start protesting & this type of corruption leads to communism.

  7. Bill de Blasio is not a Socialist ! He's a so called ''Progressive'' (the re-branded new corporate Democrat aka ''Democratic Socialist'' epitomized in himself, Warren and Harris, and the bullshit conference they held in Burlington to the exclusion of real Socialists who are Anti-Imperialist).That's why! That's why there hasn't been any push towards social spending. Bernie needs to reconsider his current trajectory!

  8. New York and New Jersey are the most corrupt states in the country. They're literally used for massive money laundering schemes. They know the people aren't really paying enough attention

  9. A terrific presentation by Richard Wolff. Many thanks to the Real News and Ben Norton for bringing us such a clear and cogent explanation of this gigantic swindle.

  10. And being Black Friday millions of people will be running to Amazon to buy things like they're the only place to buy things.

  11. What is so great about Amazon in the USA? They have opened up in Australia but it is hopeless. Go to Ebay and you get a better choice. Is it because it has not got fully operational here or what?
    Overall Australian Courier Services are as good as the USA and our Postal Services are superior and relatively cheaper.

  12. OK so are we still pretending VT is some how this bastion of ethnic inclusivity and diversity? After they fecklessly allowed heir first female minority Representative to be threatened by neo-nazi's and racists – the police force or the legislature did nothing to protect her and her disabled husband from home invasions and racial intimidation, leaving her little recourse but to give up her seat in the House?

  13. Amazon shold pay big to have any facility any where. Governments no longer even pretend to represent the people. The reasons given for this insanity are old, tired, trickle down crap!!! We will all go the same way: climate change. Going so fast, can't be stopped, doesn't care what you think, Climate Change. The economy will collapse from the cost of natural disasters. Fires, floods, hurricanes, tornadoes, extreme cold, extreme heat: very costly. When the government says we are broke and we can't afford healthcare or Social Security, and the government is ending flood insurance and advising everyone to get more insurance for homes and properties, clearly they are planning to abandon the people entirely in times of disaster. The EARTH will be fine. WE are going away.

  14. So…if you haven't figured it out yet, tax cuts aren't about giving breaks to the rich, it's about de-funding the government. This is the most devastating thing corporations are doing in order to kill Democracy in America. Fascism is taking hold.

  15. In Spain they are facing a series of strikes (for decent salaries and working conditions) and they had no better "Gringo" idea that "demanding" (sic) from the police to be present inside their facilities the days of the announced Christmas period strike and even the Spanish National Police Corps (not exactly the best friend of liberties and human rights to put it mildly) has replied that "nope", that would be too much.

  16. Extinction Rebellion and the mother of all bombs,
    99% of Rhinos gone since 1914.
    97% of Tigers gone since 1914.
    90% of Lions gone since 1993.
    90% of Sea Turtles gone since 1980.
    90% of Monarch Butterflies gone since 1995.
    90% of Big Ocean Fish gone since 1950.
    80% of Antarctic Krill gone since 1975.
    80% of Western Gorillas gone since 1955.
    60% of Forest Elephants gone since 1970.
    50% of Great Barrier Reef gone since 1985.
    40% of Giraffes gone since 2000.
    30% of Marine Birds gone since 1995.
    70% of Marine Birds gone since 1950.
    28% of Land Animals gone since 1970.

    28% of All Marine Animals gone since 1970.
    97% – Humans & Livestock are 97% of land-air vertebrate biomass.
    .01% – What percentage humans & livestock were 10,000 yrs ago.

    50 years until all the soil is gone.
    2030 = 40% more water needed + 30% more land + 30% more energy
    2018 = The world passes 100 million oil barrels/day for the first time.
    2025 = In 7 years oil demand grows 7 million barrels/day.

    We have to reduce emissions 50% in 10 years to avoid 1.5 C.
    We have to reduce emissions 100% in 20 years to avoid 2.0 C.
    100% emissions reductions will take 70 years says Vaclav Smil.

    Electricity production is only 20% of all the world’s total energy demand.

    If renewables = 25% of electricity production, then renewables = 5% of total world energy demand.

    f renewables = 40% of electricity production by 2040, then renewables = 10% of total world energy demand.

    Fix It Instructions

    The top 10% earners = 50% emissions, if taxed to middle income equivalent, emissions will decline 33%.

    If we tax the top 30% of earners to a middle income, emissions will decline 999% faster than any thing else we tried so far.

    We have 10yrs to reduce emissions 50%, and 20yrs to reduce emissions 100%.

    100% private carbon credits will unite the left and right and stop an ideological race/sex war. After taxing the rich to pay for education and health, you add a 100% private carbon tax which will act as a Basic Income currency worldwide. All America has to do to fix their county is cut the Pentagon budget 50%. These are the kind of actions needed to save mankind, worrying about your identity is for pub nights.

    Break It Instructions Fascism infects Socialism, Capitalism and Communism equally. Young socialists say there is no difference between male and female. They also say that since there’s more variation within each race than between races, then race is purely a social construct. They say that race and sex are social constructs. They also say white males are to blame. So, we are ruled by 2 social constructs. White and male. I knew whitey had it in him. We’re ruled by ghosts. These are the people you’re depending on. Brainwashed puppets.

    The 1st female Secretary of State starved 500,000 Iraqi children to death.

    The 2nd female Secretary of State destroyed Libya. She’s bi-sexual.

    The 1st Black President destroyed Syria, Iraq, Afghanistan and Libya.

    Blacks, gays and women are every bit as evil as white men.

    The Addiction Ghost of Ideology 25 min Gabor Maté [ Ideology as addiction ] https://www.youtube.com/watch?v=x2YdpvnwtGc

  17. OMG; TRNN delivers another knock out blow. I started not to watch this video because letting one person run a company that should be a Co-Op utility is the apex of stupid. A distribution center that the Federal, State and Local Governments subsidize belonging to one individual is madness. I just watched a video that had an interesting take on this Amazon deal. Amazon got a lot of data about demographics of different Cities when searching for a headquarters. Amazon picking New York as a headquarter puts it in the Financial hub of the US and a headquarter in Virginia has Amazon in the Intelligence hub of the US. Great video and is that a Jade Plant in Dr. Wolff's living Room; impressive.

  18. All of Amazon profits, (before taxation) will be put into offshore bank accounts, and Americans will receive NOTHING of a financial benefit.! Get the facts and use them to democratically control your rogue governments.

  19. Tax subsidies should be reserved for small businesses and industries that are struggling due to trade tariffs and that should be about it.

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