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View Diary: Andrew Cuomo's "Tax Free New York" Proposal (106 comments)

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  •  tax free zones support big business not small (1+ / 0-)
    Recommended by:
    joedemocrat

    Consider a tax rate at 90% of profits (Just for discussion)

    and 2 businesses.  One is a billion dollar a year enterprise
    selling refrigerators with a gross profit of 10%, the other
    is a small research startup, generating patents and new
    products with zero revenue.

    the first company benefits by 90 million per year for it's
    tax free zone, but, it's also mature, selling a product into
    a known market and with lots of capital.  

    the second company gets zero benefit from being in a tax free zone, it has no revenue, no profits, it needs to be able to pass losses up to the investors or carry them and hope the firm is successful in the future.

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