Fighting Business Does Not Uplift the Little Guy

Here’s a ranting slap. We haven’t had one of these for a while. It’s for the liberals and socialists who torpedoed the Amazon deal in New York.

Let’s cut right to the chase.

Financial illiteracy in this country may have reached its pinnacle. The elected officials at the city and federal levels who opposed this gift from heaven, at least the ones whose quotes I have read, are money morons!

One New York City council member claimed that defeating this deal was a victory for the working guy. Huh?

The city lost 25,000 jobs, many of which were described as high-paying white-collar jobs. This deal would have required $3 billion in tax incentives, but it would have yielded $27.5 billion in tax revenue for the Big Apple and New York state over 25 years.

And few have counted the peripheral money and jobs that would have been generated from higher rents in that area of Long Island City, or the restaurants and ancillary services that would have been required to support 25,000 new positions there.

How about all the money that will be lost by the investors who renovated apartments in that section of New York? Or the money that has already been invested in food services and office supplies in the area?

The ideologues who sunk this deal are claiming a win against big business. Really? What about the little guys who would have benefited from it – the 25,000 folks who would have had great jobs, paid tons of taxes (local, state and federal) and spent their money in the community?

Do these money morons who torpedoed the deal have any answers – or more importantly, jobs – for them?

How about the small investors who will lose everything they sank into that area?

They’re crushing small investors and businesses.

Wake up! The most recent socialist disaster that is Venezuela didn’t happen because the logic “give away everything by taking it from businesses” works. It doesn’t work.

Everything we have – every dime in our pockets, every car, the loans that make buying them possible, every home and every cent that makes our lives the best in the world – comes from an investor who put their money on the line for a business.

It is business that generates tax dollars and pays for everything we have. Yes, unfortunately, it also pays the salaries of those elected financial illiterates who cost New York 25,000 jobs.

And it gets worse. One of the elected officials affected by this stupidity stated that she wants to use the $3 billion incentive that Amazon would have received to repair the subway.

Unbelievable. Hello! She must be the leader of the money moron socialist stupidity club of that district. Those were tax breaks, not giveaways.

Or how about this: the New York City Democratic Socialists of America said its members had been part of an “unprecedented mobilization” against this deal.

How about Rep. Alexandria Ocasio-Cortez and her followers, who are celebrating a great victory over big business? What has she offered besides more socialist stupidity?

Think about Venezuela, folks. If one of the wealthiest countries in South America, with the largest oil reserves in the world, can fall victim of this kind of financial stupidity, it can happen here. In a small way, it just did.

Write to your elected representatives, both local and federal, and let them know how you feel about this outrage.

Bravo, Amazon. And congratulations to whomever gets the 25,000 jobs.

Now let the hate mail begin. But I’m giving fair warning, I’m not holding back on any responses to this one.

Good investing,

Steve