Tag Archive: Alexandria Ocasio-Cortez


“Billionaires should not exist.” — Millionaire U.S. Senator Bernie Sanders (D-Vermont)

“Every billionaire is a policy failure.” — Rep. Alexandria Ocasio-Cortez (D-New York)

“Personal wealth is at best an unreliable signal of bad behavior or failing policies. Often the reverse is true.” — The Economist

Super talented and accomplished media superstar Oprah Winfrey is worth $3 billion.

Basketball Hall of Famer Michael Jordan’s net worth is $1.9 billion.

Hip-hop star/investor Jay-Z just made into the three-comma club at $1,000,000,000.

Did government fail when Oprah, Michael and Jay-Z all succeeded and thrived, each because of their hard work, fortitude, perseverance and incredible talent?

Did anyone of them trade on their … privilege?

Almost DailyBrett doesn’t remember Oprah engaging in insider-trading.

Do you, Secretary Reich?

Ditto for Michael Jordan profiting from a monopoly unless Mr. Reich is pointing to Michael’s near-monopoly of talent against the competition he faced night-after-night in the NBA?

Is Jay-Z guilty of fraud, a political payoff or did he inherit his wealth?

Wonder if any of these “basically 5 ways” to accumulate a billion dollars in America apply to Nike founder/Philanthropist Phil Knight?

Have you read “Shoe Dog,” Professor Reich? Nike almost went under about nine times.

The former Labor Secretary’s “5 ways” Twitter screed is intellectually dishonest, and remarkably easy to discredit.

Alas, it is beneath the respect normally afforded to Robert Reich. Next time go high Mr. Reich instead of racing to the bottom. Talented and hard working people can earn their wealth on their own without resorting to nefarious deeds.

From a policy standpoint, we need to ask:

Should we punish Oprah, Michael, Jay-Z, Uncle Phil and so many others who worked their tushes off to legitimately make their fortunes with a punitive Elizabeth Warren 6 percent wealth tax (up from the original 3 percent proposal), and income tax rates reaching 90 percent or beyond?

Whattyathink Senators Sanders and Warren?

Class warfare — born out of jealousy — is not new.

The effective tax rate for achievers in the United Kingdom in the 1970s once reached 98 percent. If you don’t believe Almost DailyBrett, ask The Beatles … ask The Rolling Stones, who fled to France and recorded “Exile On Main Street.”

Can a near 100 percent confiscatory tax rate, which was thankfully eliminated in the UK by former Prime Minister Margaret Thatcher, happen in the United States of America? Let’s hope not.

Celebrate Instead of Hate?

Almost DailyBrett remembers boys and girls practicing basketball, so they could be “Just Like Mike.”

Your author can imagine girls admiring and wanting to be the next Oprah.

You should check Ellen’s interview with Bill Gates. They discussed the works and deeds of the Bill and Melinda Gates Foundation, donating a cumulative $50.1 billion to fight global childhood poverty and to improve public schools in our country.

According to Forbes, Gates is worth approximately $96.5 billion — give or take a shekel or two — making him the second wealthiest homo sapien on the planet. Virtually everyone in the first world is using Microsoft’s Windows Operating System, inspired and written by Gates. And his charitable foundation has contributed more than any other non-profit ever to make our world a better place (more than most governments).

His former company Microsoft is valued at $1.14 trillion, generates $96.5 billion in annual revenues, and employs 144,000 in well paying positions with full benefits and stock options. Taken together, the performance of Microsoft as a company and the generosity of the Gates Foundation, puts Bill’s wealth into perspective.

Can we have more “policy failures” just like Bill Gates, Phil Knight, Oprah Winfrey, Michael Jordan, Jay-Z and so many more?

Instead of hating people who are wealthy, let’s celebrate and cheer for the achievers (e.g., Michael Jordan).

If we are concerned about billionaires, our policies should focus on stimulating competition (i.e., über-tough content streaming, video game, smart phone markets…), not limitless redistribution or punitive taxation.

If our political intent is to further divide, demonizing billionaires (as others have been publicly denigrated for ages) is a good way to engender one of the seven Deadly Sins: Envy.

If our goal is growth and prosperity, then let’s encourage Millennials and the generations, who will follow, to shoot for the stars. Let them become tomorrow’s Oprah, Michael, Jay-Z, Bill Gates and Uncle Phil.

And if they succeed financially, let’s celebrate them and at the same time root for competitors to keep them on their toes.

https://www.economist.com/leaders/2019/11/09/billionaires-are-only-rarely-policy-failures

https://www.economist.com/finance-and-economics/2019/11/07/have-billionaires-accumulated-their-wealth-illegitimately

https://www.gatesfoundation.org/who-we-are/general-information/foundation-factsheet

https://almostdailybrett.wordpress.com/2019/02/06/the-lonely-guy-standing-in-line-for-a-burger/

https://almostdailybrett.wordpress.com/2012/09/25/taxing-uncle-phil-to-death/

https://almostdailybrett.wordpress.com/2015/08/23/three-comma-club/

https://almostdailybrett.wordpress.com/2011/10/04/taxing-the-fab-four-exiling-the-stones/

Ever wonder how Venezuela became … Venezuela?

Almost DailyBrett at one time expected that Amazon would announce Austin, Texas as the recipient of HQ2 with its estimated $50 billion total investment and upwards to 50,000 technology positions with full benefits.

As a major technology hub, Austin offers a well-trained workforce, the capital of a right-to-work state, no state income taxes, and politicians’ favorably predisposed to corporate capitalism. In addition, Amazon bought Whole Foods in 2017 for $13.7 billion, which is based in … Austin.

Instead, Amazon selected Northern Virginia with it well-educated workforce and proximity to the infinite wisdom emanating within the Beltway. The other choice, which raised more than a few eyebrows, was heavily unionized and über-taxed Long Island.

The original thinking was Amazon would be welcomed with the prospect of providing 40,000 real positions with annual salaries averaging $150,000 and full benefits – not strip mall jobs – and $27.5 billion in new tax revenues during the course of 10 years. Yes, there were $3 billion in tax incentives from the State of New and New York City and these are always controversial.

Let’s see $3 billion in exchange for $27.5 billion in new revenues and 40,000 direct high-paying positions, not counting all the indirect economic activity supporting Amazon HQ2 in terms of suppliers, vendors and utilities.

Buy Low, Sell High?

Alas the United States is a divided nation, not just Democrats vs Republicans … but more to the point: Socialism vs. Capitalism.

Some wish to punish Amazon and its wealthiest dude on the planet boss, Jeff Bezos, for pioneering digital retail, employing 613,300, generating $232 billion in annual revenues, and stimulating $798 billion in investor market capitalization.

Amazon was greeted to Gotham by a buzz-saw of those who disdain capitalism in favor of command-and-control socialism.

As a former gubernatorial press secretary, the author of Almost DailyBrett imagined what it would be like to be relaying really bad news to the boss – New York Governor Andrew Cuomo – and answering the flood of media calls.

The alternative of a root canal is looking real attractive right now.

Ever hear the one about banging your head against the wall?

It only feels good, when you … stop.

Is Amazon Serious?

Is Amazon just firing a shot across the bow?

“It (loss of Amazon investment) would certainly undermine confidence in governance. You can’t empower anti-capitalist ideologues and expect the capitalists to embrace them. I still think they will work this out, because the embarrassment would be severe.” – Joel Kotkin, Chapman University professor of Urban Studies

“You have to be tough to make it in New York City. We gave Amazon the opportunity to be a good neighbor and do business in the greatest city in the world. Instead of working with the community, Amazon threw away that opportunity.” – New York Mayor Bill de Blasio

“Threw away” constitutes fighting words.

These provocative words make it more difficult for the City of New York and Amazon to “work this out.” Why did da Mayor challenge Bezos’ manhood (we know it exists) in the first sentence of his prepared statement, and then charge the company with throwing away an opportunity in the concluding sentence.

Hey Mr. Mayor ever heard of the words … “disappointed”? … “concerned? … “let’s talk”?

If New York bids adieu to 25,000-to-40,000 Amazon positions and $27.5 billion in tax revenues in Alexandria Ocasio-Cortez’ congressional district, will those who are cheering today be demanding social justice from New York state and city tomorrow?

Even China with its brand of authoritarian capitalism figured out that buying low and selling high is the best way to provide prosperity for its people.

New York had the prospect of becoming a lucrative technology hub … but it “threw away” that opportunity.

https://www.nytimes.com/2019/02/14/nyregion/amazon-hq2-queens.html

https://www.forbes.com/sites/alyyale/2019/02/13/leaving-long-island-city-what-losing-amazon-hq2-would-mean-for-nycs-future/#18d48f01127c

https://nypost.com/2019/02/14/de-blasio-amazon-threw-away-great-opportunity-in-nyc/

 

 

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