DELIVERY OPERATIONS.
AMAZON STOCK IS 1832.
WALMART DOWN JUST A FRACTION.
>>> NOW THIS.
NEW JERSEY GIVES TAX BREAKS TO
LURE AND KEEP BUSINESSES IN THE
STATE.
APPARENTLY THAT IS NOT WHAT IS
HAPPENING.
TELL ME, SUSAN.
SUSAN: NO IT IS NOT.
YOU HIRE MORE WORKERS OR MOVE
SOME OF YOUR OFFICES TO
NEW JERSEY.
INSTEAD OF ACTUALLY USING THESE
TAX CREDIT TO LOWER THEIR TAX
$595 MILLION IN STATE TAX
CREDITS SINCE 2011 HAVE BEEN
SOLD.
THEY HAVE SOLD OFF, BUYERS
INCLUDE APPLE AND VERIZON.
SO THAT IS WHAT HAPPENS IN
HIGH-TAXED STATES.
STUART: YOU GIVE THEM TAX
CREDITS AND THEY SELL THE TAX
CREDITS.
SUSAN: THEY PROBABLY HELPS THEIR
BOTTOM LINE THAN USING IT TO
OFFSET THE TAXES.
LIZ: WHAT A RACKET.
SELLING BACK TAX BREAKS IF THOSE
BUSINESSES MOVE AND LEAVE THE
STATE.
TALK ABOUT TAKING THEM BACK.
STUART: STEVEN SWEENEY,
NEW JERSEY STATE SENATE
PRESIDENT.
THAT IS A RACKET.
WAIT A MINUTE, YOU GIVE PEOPLE
TAX CREDITS TO THE COME TO THE
STATE.
THEN THEY SELL THE TAX CREDITS.
MEANWHILE YOU ARE GOING TO RAISE
TAXES ON PEOPLE LIKE ME WHO LIVE
IN NEW JERSEY AND YOU WON'T LET
US LEAVE.
80 CENTS ON THE DOLLAR.
WE ACTUALLY MAKE OUT ON THE TAX
CREDITS.
THE TAX CREDITS ARE USED TO
BRING BUSINESSES TO THE STATE,
A, TO BE ABLE TO SELL THEM.
AT END OF THE DAY I GIVE YOU A
DOLLAR, YOU SELL IT FOR 80 CENTS
I MADE MONEY ON THAT.
STEVEN?
>> SURE.
GET THEM TO COME IN.
I AM A RESIDENT OF NEW JERSEY,
I'VE BEEN THERE FOR NEARLY 40
YEARS.
YOU'RE GOING TO RAISE MY TAXES
AND YOU WON'T LET ME LEAVE.
I'M A PRISONER.
YOU ARE A RESIDENT AND WE'RE
ARE YOU GOING TO LOWER THEM?
>> THE GOAL IS TO REDUCE TAXES
YES.
THE GOAL IS TO REDUCE TAXES AT
STUART: YOUR GOVERNOR WILL NOT
HAVE ANY OF IT.
>> WE JUST DID A NEW FUNDING
FORMULA WE WEREN'T ALL IN THE
SAME PLACE.
STUART: STEVEN, I'M SORRY TO BE
RUDE, YES, YOU'VE BEEN ON THIS
PROGRAM, YOU'VE BEEN ON THIS
PROGRAM MANY TIMES.
LAST TIME YOU WERE ON YOU TOLD
ME YOU WERE NEGOTIATING WITH THE
GOVERNOR, SOMEHOW OR ANOTHER GET
A TAX DEAL.
IT WASN'T MUCH OF A DEAL,
BECAUSE THEY RAISED TAXES ON
INDIVIDUALS, THEY RAISED THE
STATE SALES TAX.
YOU HAVE A TAX ON UBER, A TAX ON
AIRBNB.
I HAVE TO PAY ALL OF THAT AND
YOU WON'T LET ME LEAVE.
I THOUGHT WE HAD FREEDOM OF
MOVEMENT IN AMERICA BUT WE
DON'T.
AND AIRBNB AND THOSE INIT
INDUSTRIES WERE ASKING TO BE
GOVERNOR PROPOSED.
HE WANTED TO RAISE IT
$700 MILLION.
MILLIONAIRES, AT ONE MILLION ONE
DOLLAR.
I SETTLED FOR 5 MILLION.
I WASN'T HAPPY WITH THAT I DON'T
THINK THAT IS THE WAY TO KEEP
PEOPLE IN NEW JERSEY.
WE DON'T WANT TO KEEP YOU
PRISONERS.
IF I WANT TO MOVE ACROSS THE
STATE LINE TO PENNSYLVANIA AND
PAY A MUCH LOWER TAX RATE,
YOU WON'T LET ME LEAVE.
YOU WILL TIE ME DOWN WITH
YOU WON'T LET ME LEAVE.
>> NEW YORK DOES THAT, STUART.
STUART: YOU DO IT TOO.
END UP PAYING MORE IN TAX ON
APRIL THE 15th NEXT YEAR.
AND YOU WON'T LET THOSE PEOPLE
LEAVE.
>> WELL, STUART, YOU KNOW, THAT
IS THE FEDERAL TAX CUT EVERYONE
THAT IS WHY WE'RE AGAINST IT.
STUART: BECAUSE YOU HAVE HIGH
TAXES AND RAISING THEM SOME
YOU SEE IT?
THE STATE IS GOING NOWHERE.
YOU CAN'T PAY RETIRED EMPLOYEES
AND YOU'RE RAISING TAXES IN THE
FACE OF A TAX HIKE FOR THE REST
OF US.
>> STUART, THE FOCUS IS HE
REFORM, START TO REFORM OF
GOVERNMENT.
IT IS LONG OVERDUE.
REGARDLESS OF THE, YOU KNOW,
WE'LL WORK WITH THE GOVERNOR TO
START MOVING FORWARD.
NEW JERSEY IS A GREAT STATE.
YOU KNOW IT.
YOU LIVE THIS.
THAT'S WHY I LIVE THERE.
BUT WE NEED TO FIX IT.
IT IS TOO EXPENSIVE.
STUART: WHEN ARE WE GOING TO GET
THE FIX?
>> IT IS COMING, STUART.
STUART: YOU TOLD ME THAT LAST
TIME.
YOU'VE BEEN THE PROGRAM THREE
TIMES I THINK IN THE LAST 18
WE'RE GOING TO FIX IT.
WE'LL LOOK HOW WE'RE SPENDING
MONEY.
NOTHING.
ALL I HAVE GOT IS A TAX
INCREASE.
>> NEXT WEEK WE'RE ROLLING OUT
REFORMS.
I WOULD BE HAPPY TO COME BACK
AND DISCUSS THEM WITH YOU AFTER
WE DO THEM.
STUART: TELL YOU WHAT.
YOU COME BACK, WHEN I SEE TAXES
GO DOWN IN THE STATE OF