Amazon dropped out of the New York project after the hard-left politicians, including Alexandria Ocasio-Cortez, and unions, including the Teamsters, torched them. It would have created 25,000 to 40,000 good jobs and brought in billions in revenue to the depressed suburb of New York City, Long Island City. Amazon promised an investment of $2.5 billion.
New Yorkers overwhelmingly approved of the Amazon deal, but the loudmouths won.
The leftists who redistribute wealth in New York think they now have $3 billion to spend, even though those were merely tax breaks.
Some want to fix the subway with the non-existent, non-transferrable funds.
Here is a quick lesson in economics. New York City had no plans to give cash to Amazon. It was an incentive program based on job creation, producing tax revenue. There isn’t a $3 billion cache of gold that can now be spent on subways or education. The $3 billion tax break doesn’t exist unless Amazon creates the jobs.
New York has a toxic business environment as the WSJ reported.
AOC’S POT OF GOLD
A community organizer for Bernie Sanders, Rep. Alexandria Ocasio-Cortez community organized her comrades to protest Amazon’s HQ2. She cheated people out of jobs and revenue. Amazon blamed her in part for their decision to back out of the deal.
She now thinks there is $3 billion dollars for her to spend on hiring teachers. Even crazier, she thinks she can create 25,000 jobs as Amazon planned to do. As her comrades have said, she is an “economic illiterate.”
Ocasio ignorantly tweeted to try and cover up her ignorance: “This deal wasn’t a simple tax break. It was $3 BILLION dollars. When the community wanted to negotiate, Amazon said “all or nothing.” They bailed when they didn’t get 100% of what they wanted.”
That is a lie. She refused to even meet with Amazon and the unions demanded they unionize because it’s a “union town.” When she refused to meet, O-Cortez’s people told Amazon, “Amazon, never.”
AOC actually thought New York City was subsidizing the 25,000 jobs. She said if “NYC can give away $3 billion for this deal,” investments can be made to hire teachers and fix the subway. She believes 25,000 jobs paying $100,000 can be offset with local jobs.
But there is no $3 billion unless Amazon creates it.
Alexandria Ocasio Cortez just falling hand anyhow.
There was never any $3 billion hiding anywhere.
The $3 billion was going to come from future taxes on Amazon’s projected revenue.
It otherwise doesn’t exist.
Ergo, no Amazon, no $3 billion.
— Seppuku 🌕 (@sugabelly) February 15, 2019