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Trump signs executive order promoting 'opportunity zones' in distressed towns

Grokmaster

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"Bu-bu-but COHEN!!!!"


Dat ol' raciss Trump is at it again...DOIN' MORE STUFF THAT HLEPS BLACK PEOPLE!!! THAT BASTARD!!!


Naturally, this has been IGNORED by the Fake News/Lying Left, in its current "Create a Crime for Trump" frenzy, this time over completely legal payoffs to blackmailing, lying tramps.

Meanwhile, Pres.Trump continues trying to improve the lives of Americans, especially in economically challenged areas such as some inner cities, as well as small, rural communities, by, among other things, cutting the "red tape" for investors seeking to invest there , in addition to the investment incentives for poorer areas in the 2017 tax reform :


Trump signs executive order promoting 'opportunity zones' in distressed towns


President Trump signed an executive order Wednesday to create a new White House council for promoting private investment in “opportunity zones” in more than 8,700 distressed communities across the U.S., aiming to expand prosperity to neglected zip codes.

The council, to be chaired by Housing and Urban Development Secretary Ben Carson, will help streamline applications for communities to qualify for the investments, the president said.

“Our goal is to ensure that America’s great new prosperity is broadly shared by all of our citizens,” Mr. Trump said at the White House. “We are drawing investment into neglected and underserved communities of America so that all Americans, regardless of Zip code, have access to the American Dream.”


White House officials said they hope the program will attract as much as $100 billion to those communities.

For too long, Mr. Trump said, economic development has been concentrated in certain large metropolitan areas.

“With the creation of today’s council, the resources of the whole federal government will be leveraged to rebuild low-income and impoverished neighborhoods that have been ignored by Washington in years past,” the president said.


The 2017 tax reform law included provisions for opportunity zones by allowing for capital-gains tax cuts for investors who provide funds to revitalize depressed communities. About 35 million people live in the communities identified so far, and the poverty rate is nearly double the national average in those communities, said Jeron Smith, assistant to the president for legislative affairs.



https://www.washingtontimes.com/news/2018/dec/12/trump-sign-executive-order-opportunity-zones/
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Grokmaster

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Thanks from numerous leaders from some of those very communities, and thanks for other EOs helping them, in TYPICAL "RACISS" FASHION...:






PASTOR HICKMAN: Thank you, Mr. President. I am here today, thanking you in advance for funding and resources that you will direct to the urban and distressed communities like Baltimore. The executive order you signed today will make it possible for us to work with your administration on a common goal of investing to restore people as we rebuild properties in neglected communities.

As Pastor of the Southern Baptist Church, and through our Mary Harvin Transformation Center Community Development Corporation, in partnership with other faith-based stakeholder institutions, developed the East Baltimore Revitalization Plan, addressing development needs of over 100 acres just north of Johns Hopkins Hospital, and was recently approved and adopted by the City Planning Department of Baltimore.

Our area has been federally designated an Opportunity Zone, and this bipartisan legislation can leverage public and private funding towards community revitalization. Your influence on federal agencies and private entities through this executive order will enable distressed communities, like Broadway East in Baltimore, to obtain investment needed to capitalize and bridge funding gaps to create sustainable health, wealth, housing, educational, recreational, grocery, and employment opportunities.


Pres.Trump:

Today we are also proud to be joined by one of America’s most admired business leaders, the co-founder of the television network, BET, Bob Johnson. Bob, please. Hi, Bob. (Applause.) How are you? Nice to see you.

MR. JOHNSON: Thank you, Mr. President. I’m here to applaud you on two things. One, you may not even know about but Tim Scott does.

THE PRESIDENT: Good.

MR. JOHNSON: Just recently, your Department of Labor signed a historic document that created something called “auto portability.” Auto portability is designed to reduce retirement leakage among low-income 401(k) account holders who tend to cash out. And, Mr. President, you should know this: Sixty percent of African American and Hispanic Americans cash out of their 401(k) account.

When this program — the policy that Secretary Acosta initiated along with my company — is implemented, along with the big financial record keepers — the Fidelities, the Vanguards — this program will put close to $800 billion back in the retirement pockets of minority Americans. So I just want to applaud you for that. (Applause.)
https://www.whitehouse.gov/briefing...ite-house-opportunity-revitalization-council/
 
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Chomsky

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I'm not a fan of programs like this, that distort free-market principles with government intrusion and tax-payer funds. In addition, I'm no fan of putting Ben Carson in charge of anything.

But, I'm torn on it. Because I hate to see towns and rural areas diminish and recede. But this is how capitalism and free-market economics work. And I'm no fan of government mucking around in markets, beyond regulation, jurisprudence, and enforcement. I'm for some reasonable and minimal economic social safety nets, but I'm not sure bending markets is the way to go.
 

AlbqOwl

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"Bu-bu-but COHEN!!!!"


Dat ol' raciss Trump is at it again...DOIN' MORE STUFF THAT HLEPS BLACK PEOPLE!!! THAT BASTARD!!!


Naturally, this has been IGNORED by the Fake News/Lying Left, in its current "Create a Crime for Trump" frenzy, this time over completely legal payoffs to blackmailing, lying tramps.

Meanwhile, Pres.Trump continues trying to improve the lives of Americans, especially in economically challenged areas such as some inner cities, as well as small, rural communities, by, among other things, cutting the "red tape" for investors seeking to invest there , in addition to the investment incentives for poorer areas in the 2017 tax reform :


Trump signs executive order promoting 'opportunity zones' in distressed towns


President Trump signed an executive order Wednesday to create a new White House council for promoting private investment in “opportunity zones” in more than 8,700 distressed communities across the U.S., aiming to expand prosperity to neglected zip codes.

The council, to be chaired by Housing and Urban Development Secretary Ben Carson, will help streamline applications for communities to qualify for the investments, the president said.

“Our goal is to ensure that America’s great new prosperity is broadly shared by all of our citizens,” Mr. Trump said at the White House. “We are drawing investment into neglected and underserved communities of America so that all Americans, regardless of Zip code, have access to the American Dream.”


White House officials said they hope the program will attract as much as $100 billion to those communities.

For too long, Mr. Trump said, economic development has been concentrated in certain large metropolitan areas.

“With the creation of today’s council, the resources of the whole federal government will be leveraged to rebuild low-income and impoverished neighborhoods that have been ignored by Washington in years past,” the president said.


The 2017 tax reform law included provisions for opportunity zones by allowing for capital-gains tax cuts for investors who provide funds to revitalize depressed communities. About 35 million people live in the communities identified so far, and the poverty rate is nearly double the national average in those communities, said Jeron Smith, assistant to the president for legislative affairs.



https://www.washingtontimes.com/news/2018/dec/12/trump-sign-executive-order-opportunity-zones/
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Yes, I saw the signing of the order and the comments of the people who were thrilled at the opportunity made available to those depressed areas, many/most of which a lot of poor black/Hispanic people live.

But will you read about it in the NYT or WAPO or any of the other leftwing press? No. Will you see it on ABC, CBS, NBC, MSNBC, CNN? No. But it is covered by the Washington Times and Fox News. If it wasn't for the very few conservative or more balanced media outlets available to us, none of us would have ever known about it.
 

AlbqOwl

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I'm not a fan of programs like this, that distort free-market principles with government intrusion and tax-payer funds. In addition, I'm no fan of putting Ben Carson in charge of anything.

But, I'm torn on it. Because I hate to see towns and rural areas diminish and recede. But this is how capitalism and free-market economics work. And I'm no fan of government mucking around in markets, beyond regulation, jurisprudence, and enforcement. I'm for some reasonable and minimal economic social safety nets, but I'm not sure bending markets is the way to go.

I am 100% in favor of ANYTHING that provides incentive without infusing millions/billions of taxpayer funds into it. Without providing incentive for business's to invest in depressed areas, nobody could afford to take the risk to do that. The President uses the free market approach to address and improve a LOT of issues that other politicians only promised to 'invest' in when campaigning or grandstanding in front of cameras but otherwise pretty much ignore.
 

Chomsky

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I am 100% in favor of ANYTHING that provides incentive without infusing millions/billions of taxpayer funds into it. Without providing incentive for business's to invest in depressed areas, nobody could afford to take the risk to do that. The President uses the free market approach to address and improve a LOT of issues that other politicians only promised to 'invest' in when campaigning or grandstanding in front of cameras but otherwise pretty much ignore.
So where does the money come from?
 

AlbqOwl

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So where does the money come from?

It comes from the people doing the investing. All the policy does is to give new commerce and industry more chance to profit from taking the risk.

It is sort of like when Rio Rancho NM was just a wide spot in the road and barely incorporated, Intel indicated an interest in establishing a major manufacturing plant there. Rio Rancho and the State didn't pay them to do that, but instead offered substantial tax breaks to do so. Intel accepted.

Once Intel moved in, Intel became New Mexico's largest private employer with all those wage owners paying taxes. Rio Rancho quickly became the fastest growing city in New Mexico with all manner of new businesses moving in to support the increased population created by Intel and those in turn attracted other businesses, all of whom paid taxes to the city and the state. And what was a dusty depressed wide spot in the road became a thriving community, the third largest in the state.

That is how you use free market principles to make depressed situations better.
 

Chomsky

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It comes from the people doing the investing. All the policy does is to give new commerce and industry more chance to profit from taking the risk.

It is sort of like when Rio Rancho NM was just a wide spot in the road and barely incorporated, Intel indicated an interest in establishing a major manufacturing plant there. Rio Rancho and the State didn't pay them to do that, but instead offered substantial tax breaks to do so. Intel accepted.

Once Intel moved in, Intel became New Mexico's largest private employer with all those wage owners paying taxes. Rio Rancho quickly became the fastest growing city in New Mexico with all manner of new businesses moving in to support the increased population created by Intel and those in turn attracted other businesses, all of whom paid taxes to the city and the state. And what was a dusty depressed wide spot in the road became a thriving community, the third largest in the state.

That is how you use free market principles to make depressed situations better.

I can't see behind the pay wall for the OP source, but other sources are saying companies that move to these tax free zones get a 10 year window of free (no) federal taxes.

So like I said, who is going to pay for it? The lost revenue they take with them when they move?

And better yet. Why are we (government) picking economic winners and losers?
 

AlbqOwl

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I can't see behind the pay wall for the OP source, but other sources are saying companies that move to these tax free zones get a 10 year window of free (no) federal taxes.

So like I said, who is going to pay for it? The lost revenue they take with them when they move?

And better yet. Why are we (government) picking economic winners and losers?

If I charge you less for something in return for you doing something good with it, how does that negatively affect anybody else?

If a company pays less in taxes for a time in return for business development that results in a lot more folks being in a position to pay taxes, how does that negatively affect anybody else? How does getting dozens, hundreds, thousands, maybe millions of people off of government dependency and into the realm of productive, successful Americans negatively affect anybody else?

In the example I used Intel got a huge tax break. But in return they created economic development that would produce far more in taxes than what they would have paid had they not gotten that tax break.
 

Chomsky

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If I charge you less for something in return for you doing something good with it, how does that negatively affect anybody else?

If a company pays less in taxes for a time in return for business development that results in a lot more folks being in a position to pay taxes, how does that negatively affect anybody else? How does getting dozens, hundreds, thousands, maybe millions of people off of government dependency and into the realm of productive, successful Americans negatively affect anybody else?

In the example I used Intel got a huge tax break. But in return they created economic development that would produce far more in taxes than what they would have paid had they not gotten that tax break.
I have no idea what you're talking about here.

The companies that move in there stop paying their current fed taxes for 10 years. They're simply moving from one location to another, skipping out on taxes in the process. Robbing Peter to pay Paul, while not paying Saul his taxes. It's senseless, and detracts from overall revenue while giving a hand-out to the corporations.

If interested, there's already a thread with more information and sources on this (unfortunately with plenty of racial bickering):

DP
 

AlbqOwl

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I have no idea what you're talking about here.

The companies that move in there stop paying their current fed taxes for 10 years. They're simply moving from one location to another, skipping out on taxes in the process. Robbing Peter to pay Paul, while not paying Saul his taxes. It's senseless, and detracts from overall revenue while giving a hand-out to the corporations.

If interested, there's already a thread with more information and sources on this (unfortunately with plenty of racial bickering):

DP

You and I probably won't agree on this. If you didn't read my post describing the Intel story here in New Mexico, then you won't know what I am talking about. If you did, I don't know how I could possibly explain it any better. The problem is that the areas the President is targeting don't HAVE business districts. They are so depressed that nothing can thrive there. So nobody is paying taxes there at all. If giving businesses a tax incentive to take the risk to establish commerce and industry in these areas and it does revitalize the area, then there will be hundreds, thousands and more new tax payers who have a new lease on personal success instead of languishing in declining or essentially dead communities. It could be a win win for everybody.
 

Chomsky

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You and I probably won't agree on this. If you didn't read my post describing the Intel story here in New Mexico, then you won't know what I am talking about. If you did, I don't know how I could possibly explain it any better. The problem is that the areas the President is targeting don't HAVE business districts. They are so depressed that nothing can thrive there. So nobody is paying taxes there at all. If giving businesses a tax incentive to take the risk to establish commerce and industry in these areas and it does revitalize the area, then there will be hundreds, thousands and more new tax payers who have a new lease on personal success instead of languishing in declining or essentially dead communities. It could be a win win for everybody.
I did read it. And thanks for your responses here.

But your missing an important point: Nothing new is being created.

The jobs (and trickle-down effect) brought to the new area, are lost in the old area. And now the corporation will not be paying taxes in the old area AND the new area. A net loss overall.
 

RaleBulgarian

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It comes from the people doing the investing. All the policy does is to give new commerce and industry more chance to profit from taking the risk.
Sounds about as well thought out as Trump’s infrastructure plan. Anyone remember that?

And I’m with Chomsky in Carson’s involvement. No thanks.
 

AlbqOwl

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Sounds about as well thought out as Trump’s infrastructure plan. Anyone remember that?

And I’m with Chomsky in Carson’s involvement. No thanks.

Yes, those with TDS usually don't agree with anything President Trump or anybody associated with him does. They will attack or criticize the PERSON instead of debating the pros and cons of a proposal or idea.

Chomsky, to his credit, hasn't done that.
 

RaleBulgarian

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Yes, those with TDS usually don't agree with anything President Trump or anybody associated with him does. They will attack or criticize the PERSON instead of debating the pros and cons of a proposal or idea.

Chomsky, to his credit, hasn't done that.

I didn’t attack Trump. Stop being so sensitive.
 

AlbqOwl

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I didn’t attack Trump. Stop being so sensitive.

You didn't offer any rebuttal to the proposal or action but simply referred to something totally unrelated and bashed Carson. That is the M.O. of the TDS crowd.
 

Deuce

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Yes, I saw the signing of the order and the comments of the people who were thrilled at the opportunity made available to those depressed areas, many/most of which a lot of poor black/Hispanic people live.

But will you read about it in the NYT or WAPO or any of the other leftwing press? No. Will you see it on ABC, CBS, NBC, MSNBC, CNN? No. But it is covered by the Washington Times and Fox News. If it wasn't for the very few conservative or more balanced media outlets available to us, none of us would have ever known about it.

https://www.nytimes.com/2018/12/12/us/politics/trump-opportunity-zones-tax-cut.html
https://www.washingtonpost.com/busi...ory.html?noredirect=on&utm_term=.f2843fa79e03
https://abcnews.go.com/Politics/wir...der-boosts-opportunity-zones-program-59781689
https://www.cbsnews.com/news/ivanka-trump-jared-kushner-could-profit-from-tax-break-they-pushed/
https://www.nbcnews.com/nightly-new...r-family-business-could-benefit-1396426307541
http://www.msnbc.com/stephanie-ruhl...fits-trump-s-friends-and-family-1395928643710
https://www.cnn.com/2018/12/12/politics/trump-kushner-opportunity-zone/index.html

There's your entire goddamned list.

Every single time right wingers say "MSM isn't talking about X," it's one of two things:
1) Every media outlet on the planet actually has articles about X.
2) X is some completely unfounded bull**** found on some dip****s blogs, so there's nothing to talk about

Right wingers: if you find yourself being told "liberal media isn't talking about this," ****ing check. Keep track of how many times this turns out to be wrong. You'll learn something.
 

RaleBulgarian

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You didn't offer any rebuttal to the proposal or action but simply referred to something totally unrelated and bashed Carson. That is the M.O. of the TDS crowd.
Again, dial down your sensitivity. Carson doesn’t know squat about urban renewal. There must be someone who’s much better qualified than him to lead. As for the plan, time will tell, but Trump’s domestic project record isn’t good.
 

Grokmaster

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I did read it. And thanks for your responses here.

But your missing an important point: Nothing new is being created.

The jobs (and trickle-down effect) brought to the new area, are lost in the old area. And now the corporation will not be paying taxes in the old area AND the new area. A net loss overall.
Total BULL****.


ECONOMIC OPPORTUNITY that was not there before being created.


And money in minority 401Ks is being protected.


Any LIE to attack Trump.
 

jnug

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I have no idea what you're talking about here.

The companies that move in there stop paying their current fed taxes for 10 years. They're simply moving from one location to another, skipping out on taxes in the process. Robbing Peter to pay Paul, while not paying Saul his taxes. It's senseless, and detracts from overall revenue while giving a hand-out to the corporations.

If interested, there's already a thread with more information and sources on this (unfortunately with plenty of racial bickering):

DP

That is my problem as well. No taxes for ten years into an open ended program run by Ben Carson does not sound like something that will actually get anything done. Who retrains these people...something we should have been doing for thirty years!

Give me one or the other and I could salute the thing. Put somebody real in charge (NOT BEN CARSON) or make the tax breaks less of a giveaway. Better yet choose somebody NOT BEN CARSON, be more reasonable on the tax end and put some stipulations in there that will result in people joining a 21st Century skilled labor force instead of just getting a job.

Frankly this sounds more like a Trumpian PR reaction to the Amazon and Apple announcements.
 
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Grokmaster

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The idea is that companies moving into these area, will PROVIDE JOBS THERE.
 

grainbelt

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It comes from the people doing the investing. All the policy does is to give new commerce and industry more chance to profit from taking the risk.

It is sort of like when Rio Rancho NM was just a wide spot in the road and barely incorporated, Intel indicated an interest in establishing a major manufacturing plant there. Rio Rancho and the State didn't pay them to do that, but instead offered substantial tax breaks to do so. Intel accepted.

Once Intel moved in, Intel became New Mexico's largest private employer with all those wage owners paying taxes. Rio Rancho quickly became the fastest growing city in New Mexico with all manner of new businesses moving in to support the increased population created by Intel and those in turn attracted other businesses, all of whom paid taxes to the city and the state. And what was a dusty depressed wide spot in the road became a thriving community, the third largest in the state.

That is how you use free market principles to make depressed situations better.

That's fundamentally NOT a free market principal, though. Free market thinking is hands off. You do not tweak tax incentives and gov't spending to persuade public action, essentially handing out favors. Incentives are a good thing, but this is not free market. It's probably anti-competitive, too. It has favored a company with lower taxes that it's would be competitors are not enjoying, especially the smaller ones. Amazon having cities fight over them with one-upped lucrative incentives is not how competition is supposed to work.
 

Manc Skipper

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The idea is that companies moving into these area, will PROVIDE JOBS THERE.

They're already providing jobs where they are. "provide" is a difficult word here. They're not giving them out, they're offering a chance to be employed for less then you make for the company.
 

AlbqOwl

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That's fundamentally NOT a free market principal, though. Free market thinking is hands off. You do not tweak tax incentives and gov't spending to persuade public action, essentially handing out favors. Incentives are a good thing, but this is not free market. It's probably anti-competitive, too. It has favored a company with lower taxes that it's would be competitors are not enjoying, especially the smaller ones. Amazon having cities fight over them with one-upped lucrative incentives is not how competition is supposed to work.

In today's conglomerate markets you cannot have both hands off and a free market. Without some regulation that prevents the big businesses from doing violence to their competitors with impunity--anti-trust, RICO, fair labor laws etc.--we would have anarchy that would be as bad as would be a pure democracy. We are now in a society in which big business without any restraints could assume dictatorial power to reward or punish anybody or any entity they chose to reward or punish.

All good regulation accomplishes is to require everybody to play by the same sensible rules. Then the free market is truly free to operate according to the initiative, work ethic, vision, ingenuity, competence, and ability of those participating in it. And providing tax incentive to encourage well reasoned risk taking in underserved areas is a proper function of government.
 
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