When Amazon reversed their selection of New York as one of their new headquarters, most in the area were disappointed at losing 25,000 jobs and the tax revenues that would have come with it. Some cheered, notably conservatives who believed the big tax cuts should have been focused on bringing in many small businesses instead of one large corporation. Notable among the leftists cheering the decision was Representative Alexandria Ocasio-Cortez (D-NY) who was part of the reason Amazon pulled out in the first place.
The issue has not been in the news cycle for a while, but economist Tracy Maitland, president and chief investment officer of Advent Capital Management, brought it back up again at the National Action Network (NAN), an event hosted by African-American activist Al Sharpton.
“This was a disgrace. I partially blame AOC for the loss of Amazon. She doesn’t know what she doesn’t know. That’s scary. We have to make sure she’s better educated or vote her out of office,” Maitland said.
A few hours later, Ocasio-Cortez spoke at the same event and drew fire for adopting a fake southern accent despite her roots in the Bronx.
Seriously. What is it that makes AOC and Hillary think that black people are impressed when you mimic their accents? https://t.co/qK7y7ru9Wy
— Scott Drum (@scottdrum) April 6, 2019
It’s unfortunate the media is paying more attention to a silly accent than to a prominent black economist who railed against her. The real story here is that Ocasio-Cortez really is economically illiterate and many on the left are starting to realize it.
I was against the Amazon deal myself, but not for the false reasons AOC has been using. I believe cities like New York that make it hard for businesses to operate must bring in small- and medium-sized businesses to compensate for the businesses they force to relocate or shut down because of unfavorable economic conditions. Giving such a large tax break to a company like Amazon is silly for a city that size. Amazon in NYC would have less of an effect on the economy than Amazon building a headquarters in Oklahoma City, Memphis, or Albuquerque. On the other hand, an infusion of small- and medium-sized businesses in New York City would be great everyone involved.
The problem with AOC’s claims is that she truly believes the rhetoric being fed to her by her handlers at the Justice Democrats when they say the money that would have been “given” to Amazon could be used instead for schools and transportation. That’s simply not how it works. The tax incentives Amazon would have received would have created jobs that in turn generated tax revenues to compensate for the tax break Amazon received. It wasn’t money sitting around waiting to be spent on roads and education before Amazon came along and tried to steal it. It’s money that doesn’t exist yet and won’t exist until Amazon jobs generate the revenue.
It’s basic economics, something that AOC is allegedly supposed to be proficient at. But she missed badly on this one and Maitland called her out.
“The people campaigning against the Amazon campus are financially illiterate.” – Tracy Maitland
Her use of an accent was nothing compared to the intellectual spanking she received from an African-American Democratic economist at the same event. Unfortunately, many prefer to laugh at her than hear the real problems with her policies.
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