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Bucky

AOC does not understand the economy or basic math

Rating: 1 votes, 1.00 average.
AOC does not live in the reality of the real world.

$3 billion in subsidies

For:

$27 billion over 25 years

The math says New York City would have gained $24 billion with Amazon arriving.

Amazon said its HQ2 would create 25,000 jobs directly, and as many as 15,000 indirectly. The average pay for an Amazon New York City employee was going to be over $100,000. Even the janitors were likely to be well paid; Im reliably told there was a decent chance theyd be union jobs.

Oh, and lets not forget where HQ2 was going to be located: in a Queens neighborhood called Long Island City, near the largest public housing project in the Western Hemisphere, the Queensbridge Houses. Queensbridge consists of 26 buildings, and its largely black and Hispanic population has a medium family income of $15,843, according to the New York Times. (Thats $10,000 below the federal poverty line.)
Bloomberg - Are you a robot?

So AOC wants to spend $3 billion on the Subway or schools when she could have had $24 billion. Absolutely stunning. This is a neck-snapping type of failure for New York city.

People like AOC and her group are anti-wealth. Amazon is worth $3 billion in subsidies. Trust me. The company that comes in LIC will not have the same impact as Amazon. Not even close.

What AOC fails to understand: The $3 billion is not a pile of money that can be spent on anything. It was a $3 billion performance-based incentive that grows the economy, brings cachet to the city, and helps spurs other investments. Renovated office spaces, increase in the hotel business, increase in local transportation, etc.. AOC is not stupid, she is part of an extreme movement that resents our capital system.

If AOC's goal is to get Trump re-elected, she is doing a great job.
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Comments

  1. RobertU's Avatar
    AOC is about as cutting edge as AOL.
  2. Rogue Valley's Avatar
    Good riddance to Bezos and his corporate welfare scheme.
  3. Bucky's Avatar
    Quote Originally Posted by Rogue Valley
    Good riddance to Bezos and his corporate welfare scheme.
    I am guessing all the state politicians that called Amazon evil bought something from Amazon within the past year.
  4. <alt>doxygen's Avatar
    I think in total this was a bad move for her district and the city.
  5. HumblePi's Avatar
    Amazon pulling out of the 'HQ2' deal was one of the biggest shows of grassroots power over a massive corporation, a plethora of industry lobbyists and government officials. The sheer scope of the Amazon incentive package felt abusive and obscene, especially when the state is facing a $2.3 billion budget shortfall. Why would NY offer Amazon $3 billion in financial incentives? Amazon's tax breaks were nothing more than bribery and fraud.

    The decision by Amazon to stop pursuing $3 billion in financial incentives from New York to locate its "HQ2" in the state was one of most startling corporate about-faces in recent memory, and it's also one of the biggest shows of grassroots power over a massive corporation, a plethora of industry lobbyists and government officials.

    Amazon’s oversized power is looking less and less like smart business and more and more like oppressive politics, one company bullying us all. And the spotlight the deal brought to the company wasn't good for it overall. some of the reason that Amazon pulled out of the deal with New York was purely tactical: They were probably about to lose it anyway. State Senator Mike Gianaris was appointed to the state's Public Authorities Control Board this month, where he would have veto power over substantial parts of the Amazon $3 billion subsidy package. Glanaris was an outspoken critic of the deal based on its potential impact on rents and transportation, as well as Amazon’s anti-union, ICE-enabling through facial recognition technology.

    Amazon's capitulation to those opposed to their expansion in New York City is an epic moment for people power over an enormous corporate bully. But, when you beat a bully, you have to be sure not to let him get away with it somewhere else. This is just the beginning of pushing back on the unfettered growth of corporate power.

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