Reaganomics Victory: Left-Wing BuzzFeed Granted $4 Million In Tax Credits


According to Capital New York, left-wing companies like BuzzFeed and left-wing places like New York are all about trickle-down economics when they believe no one is watching. BuzzFeed is worth close to a billion — with a “B” — dollars. Nevertheless, the left-wing company threatened to take their 400 jobs to another state if the already-overburdened New York taxpayers didn’t cough up $4 million in tax credits.

Buzzfeed explored the option of moving 200 of its employees to office space in New Jersey before New York’s chief economic development agency entered into an agreement giving the company $4 million in tax credits to promote the retention and creation of in-state jobs, Capital has learned.

It is so weird when this happens. Hollywood also does this. Leftists publicly rail against corporate tax cuts (really, all tax cuts) and attack the very idea that lowering the cost of doing business will create jobs … and then they turn around and demand lower taxes for their already-wealthy selves, usually in the form of what some might call blackmail:

“While we would likely continue to maintain an office in NYC for employees who meet frequently with others in NYC…the pricing differential between the real estate we have seen in NYC and the real estate in New Jersey indicates that relocating 200 of our current employees to a New Jersey office may make sense,” the digital media powerhouse said in an application to New York state’s Excelsior Jobs Program, obtained by Capital through a F.O.I.L. request.

In return for that $4 million in corporate welfare, BuzzFeed has promised to create 475 new jobs.

If I correctly understand super-wealthy media leftists, it goes a little something like this: tax cuts only create jobs if the company that benefits from the corporate welfare is a left-wing company. Tax cuts for other companies is Greed! Inequality! White Privilege! Evil! Dastardly! Un-American! Un-Patriotic! Reverse Robin Hood! An Attack On the Poor! Anti-Science!

Reaganomics for me but not for thee.


Follow John Nolte on Twitter @NolteNC               



Please let us know if you're having issues with commenting.