And let’s not forget our economic multipliers.
I don’t know the details of the math, but, creating 25,000 new jobs at Amazon in New York, would have led to the creation of thousands of new jobs in service businesses.
Economics major Ocasio-Cortez, again shows her ignorance of economics, when she said that now that Amazon won’t be getting $3 billion in tax abatements, now we can use that money to rebuild the subway, etc. Paraphrasing what she said.
She clearly doesn’t understand that the tax abatements are not sitting in the bank, waiting to be spent on rebuilding the subway, if only we don’t give the benefit to Amazon.
Then again, for having an econ. degree, she doesn’t even know how the unemployment rate is calculated. So there you go.
I’ve watched around 20 interviews with AOC. The impression i get is that she never attended a single class in economics, even though her minor in college was economics.
The economic multiplier is 3:11. For every core job created like there 25,000 at Amazon, there will be 75,000 ancillary jobs created to support the core like barbers, cleaners, restaurants, transportation, service personnel. Didn’t Boston University teach you that in 4 years?
Even worse, she's incapable of performing simple arithmetic.
She described the Amazon jobs as "scraps", when the average position would have paid $150,000 a year. For the folks in Rio Linda that's $75 an hour.