The New York Times Corporation and Bank of America, which both used eminent domain laws to seize land to construct new office buildings, are now planning to use tax-funded Liberty Bonds to pay for the projects -- a scheme that has New York Libertarians up in arms.
"These corporate welfare queens really know no limit to their hubris," said Manhattan LP spokesman Jim Lesczynski on September 26.
"It's bad enough that these corporations destroyed thriving small businesses through blatant abuse of New York's infamous eminent domain laws. But now they have the gall to ask for bonds paid for with our tax dollars that were earmarked for redevelopment of lower Manhattan after September 11th."
Both the New York Times Corporation and Bank of America have applied for U.S. government tax-free Liberty Bonds, which were intended to be used to rebuild lower Manhattan after terrorists destroyed the World Trade Center towers.
Previously, both multibillion-dollar corporations had used the quasi-governmental Empire State Development Corporation to seize private property between 40th and 42nd Streets.
"First the Times and Bank of America stole the property they want to occupy," said LP city council candidate (District 4) Jak Karako. "Now they want you and me to pay for the new construction. When will the looting end?
"Libertarians argue that tax dollars should never be used for the benefit of private interests," he said. "However, this bait-and-switch involving federal 9/11 relief is especially inappropriate."
In related news, Nassau County LP Chair Richard Cooper criticized Governor George Pataki for vetoing a bill that would have reformed the state's eminent domain process.
The bill would have required any government entity that planned to seize private property to directly notify the property owners first. Currently, the government must only run a legal notice in a local newspaper.
Pataki vetoed the bill on September 23, claiming that notifying property owners would hold up "important public works projects."
On an October 6 statement, Cooper said, "The Fourteenth Amendment provides that 'nor shall any State deprive any person of life, liberty, or property, without due process of law.' How can there be due process of law if you do not know that your property is being threatened?"
Cooper urged the New York legislature -- both houses of which had passed the eminent domain reform bill by unanimous votes -- to override Pataki's veto.
http://www.lp.org/lpnews/0311/ny_911bonds.html
"These corporate welfare queens really know no limit to their hubris," said Manhattan LP spokesman Jim Lesczynski on September 26.
"It's bad enough that these corporations destroyed thriving small businesses through blatant abuse of New York's infamous eminent domain laws. But now they have the gall to ask for bonds paid for with our tax dollars that were earmarked for redevelopment of lower Manhattan after September 11th."
Both the New York Times Corporation and Bank of America have applied for U.S. government tax-free Liberty Bonds, which were intended to be used to rebuild lower Manhattan after terrorists destroyed the World Trade Center towers.
Previously, both multibillion-dollar corporations had used the quasi-governmental Empire State Development Corporation to seize private property between 40th and 42nd Streets.
"First the Times and Bank of America stole the property they want to occupy," said LP city council candidate (District 4) Jak Karako. "Now they want you and me to pay for the new construction. When will the looting end?
"Libertarians argue that tax dollars should never be used for the benefit of private interests," he said. "However, this bait-and-switch involving federal 9/11 relief is especially inappropriate."
In related news, Nassau County LP Chair Richard Cooper criticized Governor George Pataki for vetoing a bill that would have reformed the state's eminent domain process.
The bill would have required any government entity that planned to seize private property to directly notify the property owners first. Currently, the government must only run a legal notice in a local newspaper.
Pataki vetoed the bill on September 23, claiming that notifying property owners would hold up "important public works projects."
On an October 6 statement, Cooper said, "The Fourteenth Amendment provides that 'nor shall any State deprive any person of life, liberty, or property, without due process of law.' How can there be due process of law if you do not know that your property is being threatened?"
Cooper urged the New York legislature -- both houses of which had passed the eminent domain reform bill by unanimous votes -- to override Pataki's veto.
http://www.lp.org/lpnews/0311/ny_911bonds.html
