Alexandria Ocasio-Cortez’s Econ Professors Should Be Fired

Alexandria Ocasio-Cortez’s Econ Professors Should Be Fired

Alexandria Ocasio-Cortez’s Econ Professors Should Be Fired

Alexandria Ocasio-Cortez (NY D-ranged) allegedly graduated from Boston University with a degree in economics and international relations. It’s a good thing she’s found a well-paying gig in Congress because her arrogant statements on economic issues disqualifies her from running any business, except into the ground.

Alexandria blasts Amazon’s sweetheart deal

Occasional-Cortex is positively giddy over Amazon’s retreat from opening a headquarters in Queens.

Far be it for me to stick up for Jeff Bezos, the man. I usually retreat to the kitchen for some more popcorn when it comes to Left-on-Left pugilism. At best, I’m agnostic when large corporations make sweetheart deals with cities and states. It can too easily slide into cronyism where the cost to the communities is more than the benefits. Just look at the history of sports stadiums and high-speed rail.

The package of tax breaks and performance incentives in the Amazon/NYC deal were extensive. However, of the $3 billion dollar figure being bandied about by Alexandria, Elizabeth Warren and others, only $325,000,000 is actual cash.

Of Pizzas, coupons and Alexandria’s unicorn dollars

Alexandria has been in the public eye a relatively short time. However, she’s managed to mangle any number of economic issues. When interviewed about the canceled Amazon deal I was surprised it wasn’t accompanied by the slapping sound of a dozen facepalms.

“The district is now going to lose thousands of jobs that would have come there,” a reporter quietly noted in the middle of Ocasio-Cortez’s celebratory dance.

“Well one of those things is, A) we were subsidizing those jobs,” she said. “The city was paying for those jobs so frankly if we were willing to give Amazon so if we were willing to give away $3 billion for this deal, we could invest those $3 billion in our district ourselves if we wanted to. We could hire out more teachers, we can fix our subways, we can put a lot of people to work for that money if we wanted to.”

As I pointed out above, only $325,000,000 is actual cash. That $3 billion doesn’t exist. It isn’t in a bank account waiting for distribution. It is only the value of the tax breaks and incentives over the course of years. Ironically she wants to use $3 billion in unicorn dollars, in part, to “hire teachers” when the Amazon deal was to bring jobs, tax revenue, artist/tech/green spaces, and “a site for a new primary or intermediary public school”.

In a bizarre tweet thread, AOC confirmed she just doesn’t get economics.

Ocasio-Cortez criticized the deal for the billions in tax breaks the company was seeking, but many ridiculed her for implying that the money existed apart from the deal and could be used elsewhere.

The deal was expected to garner $30 billion in tax revenue in exchange for $3 billion in tax breaks.

Say what? I guess this child’s use of ALL CAPS was supposed to be a “GOOD DAY, SIR!” flounce. But the tweet she was apoplectic over was a solid analogy. Businesses offer coupons, discounts and specials all the time. They make the cost/benefit analysis that the reduction in profit in the short term is worthwhile to increase business volume. Many communities offer similar incentives because they feel the short term reduction in tax revenues is worth the long term benefits of increasing the tax base. Any particular deal is open to debate on its merits, but the concept remains valid.

AOC, like most dormitory socialists, feelz businesses are inherently EVIL!. The idea of voluntary trade for mutual benefit escapes them. If I run a coffee shop that offers seniors a discount on coffee, I am not subsidizing them when I allow them to keep more of their own money. I’m trading some of my own profit to incentivize them to patronize my store.

I would wish Boston University might offer up a mea culpa for graduating such an ignorant twit. However, my gut tells me she’s a feature, not a bug, of the modern seminaries of Leftism.

And those 25,000 jobs? Sorry, New Yorkers. Take it up with Occasional-Cortex.

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featured image original artwork by Victory Girls Darleen Click

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  • Highsider says:

    They didn’t have economics professors at the grade school she dropped out of in the fourth grade! If she claims anything else, she’s lying!

    • Wfjag says:

      Apparently there were no Economics teachers in Oklahoma, at the University of Houston, or Rutgers Law School, either. Lizzie Warren, already known for her ignorance of genetics, recently claimed in a speech that when she was growing up, that a minimum wage job would support a family of 3. Lizzie was born in 1948. In 1968, the minimum wage was $1.30/hour, or $52/week, before taxes. One person couldn’t have lived on that, much less a family. So, it appears that AOC’s ignorance of basic economics is a trait common to prominent Democrats.

  • Steve says:

    Darleen you were far more gracious in pointing out AOC’s ignorance. I guess that is the lady’s touch. I would have just quoted Forest Gump’s mother. “Stupid is as stupid does.” LOL. Nice article. Thanks.

  • Russ Wood says:

    This seems to be common with Leftists – they confuse tax breaks with subsidies! One sees this a lot when the Greenies are trying to compare fossil-fuelled systems with subsidised ‘ruinables’ such as Wind turbines.

    • Rick says:

      “Ruinable” wind turbines. Heh, heh. I like that.

    • GWB says:

      Well, tax breaks to businesses for relocation ARE subsidies, if you use a future valuation accounting method. They are simply indirect subsidies that (hopefully – but not usually in the cases of things like stadiums) pay back more than they were worth.

      The tax break you get for paying a mortgage is a subsidy of that mortgage. The tax break you get for charity donations is a subsidization of that charity giving. The tax break you get for paying local and state taxes is a subsidy to that state/locale.

      Where they get confused is they treat them as present valuation or direct subsidies. This is a result of thinking that all the money belongs to the gov’t.

      (BTW, that idea – all the money belongs to the gov’t – is really a throwback thinking to feudal times. Everything you had was given to you by the level of nobility above you. It’s why I refuse to use “capitalism” for our free market system, because Marx was working from the point of view of feudalism.)

    • Laurie says:

      A lot of people at Enron went to jail for similar thinking …

  • “Unicorn dollars” is just the term I’ve been looking for when trying to explain to dunderheads that reducing someone’s tax bill is not the same as taxing others and handing them the money. Thank you!

  • Richard C Youghn says:

    Kill jobs. AOC is not alone in this brainless scheme, politicos all across the country have that whacky mindset that they have ‘defeated’ you when your proposal would have brought enployment to their strapped cimmunity. Macon, GA is a prime example.

  • jerseychris says:

    Wait, there’s more: BU has a medical school.

  • MalvolioSF says:

    Cronyism like tax rebates are still a terrible idea, if even AOC thinks they’re a terrible idea. Basically, once the municipality starts handing them out, everybody wants one. And who do you think gets them, the dynamic, value-creating businesses, or the well-connected businesses?

    Stopped clock.

  • Scott says:

    AOC has entered the realm of aggressive stupidity.

  • Stu says:

    The Prager University presentation by Dr. Walter Williams was as good an explanation for the moral basis of the free market system as I have ever heard. It is a shame that this cannot be presented to every citizen or at least to those taking a course in economics.

  • Paul from Decatur, says:

    Wouldn’t it be interesting to see AOC’s college transcript and the BU catalogues of her years there? While I am more interested in the course descriptions of the economics courses she took than her actual grades,
    both would probably be telling.

  • Linda Fox says:

    I wrote about her likely coursework at BU. The papers always reverse the name of her degree – it’s International Relations and Economics – but, even that likely overstates the actual Econ content.

  • Hawk Handsaw says:

    Hey, I’ve been an Economics teacher for many years. A college-credit high school course. You have no idea how impossible it is to persuade the willfully ignorant of something. And even when a basic truth gets through to them, it only sticks until the next time they go on whatever other crap pop-news site they are reading now.

    So leave us Econ teachers out of it!

    • SteChatte says:

      I disagree. You can persuade the ignorant of something with a viable threat of an “F” grade. The non-persuaded are then not able to tout credentials when seeking advancement from bartender to Congresswoman.

      Furthermore, we don’t need college-credit courses in high schools. We already have COLLEGE for that. Instead, we need high schools to prepare kids to ace the SAT/ACT…er, I mean real colleges that have such standards and refuse to accept high schools’ crappy “college credit” scam courses.

  • SteChatte says:

    Can anyone please verify this dimwit’s degree? Boston University’s reputation is at stake.

  • F.D.R. in Hell says:

    AOC: I taste just like a rainbow.
    CNN: Skittles?
    AOC’s BF: Trout.

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