Friday, June 13, 2008

Oh, Now I know Why I have to Pay Tax on Amazon Purchases....

To help make up the massive New York State which just got a little bigger thanks (again) to Bruce Ratner from DDDB:

NYCEDC Confirms: Ratner Wants More Subsidy for Atlantic Yards

Back on April 2nd, Forest City Ratner's parent company CEO Chuck Ratner said on an analysts conference call that "we still need more" subsidy for Atlantic Yards. (Atlantic Yards Report broke that story.) Ever since then, Forest City Ratner spokespeople have flat out denied that they would be seeking more subsidy. But NYC Economic Development Corporation President Seth Pinsky begs to differ, according to the Sun article, he confirms what Chuck Ratner said in April:

...He [Pinsky] also said that the developer Forest City Ratner Co. had expressed interest to the city about seeking additional tax-exempt funding, but that the request was being handled by the state..

Who ends up paying? Who ends up profiting? Is it any wonder that New York is simultaneously one of the highest tax states (and most left leaning) in the Union and one of the most corrupt? Is it any wonder the middle class is leaving in droves, like in California (or simply vanishing) what will we become if this continues?

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