I know, all those new high paying jobs. We are sure New Yorkers are just beside themselves.
Amazon has many issues. It is a crony company on many levels as we’ve long documented at AC2News.com. Yes the site location process for “HQ2” has been rife with offers of special deals and tax breaks, that are crony and unfair. However Ms. Ocasio-Cortez has a beef with the fact that Amazon is getting tax breaks because she thinks she has some claim on Amazon’s earnings.
Tax credits are one thing, and we’ll bet there are tax credits nestled into the New York deal. Tax credits COST taxpayers. Money is taken from the pockets of taxpayers and then given to a (in this case) large corporation. Tax BREAKS however cost nothing. The company or whatever simply gets to keep more of the money it has earned. It’s the company’s money. If it keeps more of that money it can go back into investment or may be given back to shareholders.
Every effort should be made to keep money in the private sector and away from the politicians who want to reward their constituencies. Money in the private sector is a good thing. Money being filtered through government usually means waste and an even more bloated and intrusive state.
But Ms. Ocasio-Cortez wants an even more bloated and intrusive state. She’s a “socialist.” (Not that she seems to know what that means really.)
(From National Review)
Mayor Bill DeBlasio, who is expected to announce the plan on Tuesday, called it “the single biggest economic development deal in the history of New York City.” But Ocasio-Cortez — a Bernie Sanders acolyte who routinely rails against the malign influence of large corporations — cast the opening of a new Amazon headquarters in her district as yet another opportunity for the wealthiest to pillage the resources of the poor.