[atq2119]

The problem with that logic is that you're predetermining your conclusion by picking the baseline that you're comparing against.

You pick your preferred baseline, fair enough. But since we're talking about a discriminatory tax break here, it's perfectly reasonable to choose as baseline a world without discrimination. And in that comparison, NY de facto pays the 5 billion or whatever it is. Of course, this is also choosing an ultimately arbitrary baseline for comparison.

You can ping pong this discussion indefinitely because there is no absolute, divine baseline to compare against.

[autokad]

No. There is no discussion, the answer is absolutely no.

NYC is not PAYING 5 billion dollars. they are simply not taxing it, therefor you can not say 'what else could they have used this money on instead'.

Its like me hosting a website for many charging 100$, and one person comes to me and says they will pay me 0$ but do other stuff, but otherwise they will not use my services. I can not say 'gee, if I charged them 100$ I could do these other things with the money', because I am not paying them 100$ to use my site.