Quote:
Originally Posted by HarryT
Do you know what it was that people were objecting to? One might have thought that most communities would welcome a large employer offering well-paying jobs. Was it that local people weren't qualified enough to be likely to get the jobs?
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It's a tax issue.
NYC has the single highest local tax burden in the United States. This is on top of already very high cost of living (rents, etc). So employers have to compensate with higher salaries to attract top talent. And in return, when they can, employers negotiate their own compensating incentives.
It is standard practice in a country with 13,000 different local tax regimes.
Here's how the tax burden breaks down by state:
https://wallethub.com/edu/states-wit...-burden/20494/
Note that Virginia and Tennessee have way lower tax burdens so the "incentives" were lower.
The federal government has a system of locality pay adjustment for employees that has a 15% baseline nationally and goes up to a 33% maximum. For NYC.
https://www.federalpay.org/gs/locality
The thinking of the local politicians I'll forgo because it is pure partisan politics that will derail the thread. (PM me if you want details and links on that.) Let's just say the politicians in question are against capitalism in all its forms and leave it at that.
Edit:
This link seems innocuous enough.
Feel free to delete it, Harry, if it isn't.
https://www.city-journal.org/amazon-cancels-queens-hq