economics

How to Grow the Middle Class

How to Grow the Middle Class

 By Murray Sabrin

The decision by Amazon to pull out of building a New York City headquarters has ignited a debate over growth, ("Amazons exit reignites a debate over growth," February 17).

According to the article Nick Hanauer, who was one of the early investors in Amazon and identified as a progressive activist and writer, decries tax incentives as an example of egregious trickle-down economics.  Instead, he and a former Clinton administration advisor are calling for "middle – out economics."

Mr. Hanauer states confidently, "The thriving middle class is the cause of economic growth." This is incorrect. A middle class is the result of investment and production.  Mr. Hanauer's own actions prove that. He invested in Amazon, because he obviously believed the new online book service would be success. He did not "invest" in Seattle's middle-class.

Despite Mr. Hanauer's mistaken assertions regarding economic growth, the truth of the matter is there is no shortcut to creating a middle-class other than to have a vibrant free-market economy based upon investment and production.

Why Amazon’s Departure is Bad for New York

 Why Amazon’s Departure is Bad for New York

By Lee Enochs 

In a stunning and detrimental economic development for all New Yorkers, the Empire State’s Democratic Governor, Andrew Cuomo, who truth be told, is generally not friendly to pro-capitalist business interests in the Big Apple, lashed out bitterly at progressive politicians such as Democratic-Socialist Alexandria Cortez and Massachusetts Junior Senator Elizabeth Warren, for influencing tech giant Amazon’s decision to leave the city. 

It has been estimated that Amazon’s New York headquarters would have provided close to 25,000 new jobs and billions of dollars of economic revenue for America’s largest city.

However, “AOC” as Ocasio-Cortez is known to her adoring, three million followers on Twitter, celebrated gleefully Amazon’s abrupt departure from the city which never sleeps, and said, 

“Anything is possible: today was the day a group of dedicated, everyday New Yorkers & their neighbors defeated Amazon’s corporate greed, its worker exploitation, and the power of the richest man in the world.”

The Brains Behind Alexandria Ocasio-Cortez

The Brains Behind Alexandria Ocasio-Cortez

By Robert Wenzel

I have previously posted that the socialist congresswoman Alexandria Ocasio-Cortez has been using, in a very skillful manner, Leninist type tactics to advance her socialist cause.

Those attacking her for being ignorant, simple, etc. miss the point. She knows nothing about economics or doesn't care. Her game is completely about politics and the power game.

To understand this, you need to understand how she entered the race that allowed her to capture New York's 14th congressional district seat.

On the True Cost of Minimum Wage

On the True Cost of Minimum Wage

By Murray Sabrin

On Feb. 4, Gov. Phil Murphy fulfilled his 2017 campaign promise when he signed the bill that would raise the state’s minimum-wage, in increments, to $15 an hour by 2024. This year the state’s minimum wage would increase to $10 an hour in July and increase by one dollar every January 1 until it reached $15 per hour.  Not all workers, however, would see the legal mandated minimum wage increase to $15 per hour.  In short, some workers apparently are not deserving of being treated equally.

The governor signed the bill surrounded by Democratic leaders, union workers and other supporters at the headquarters of Make the Road New Jersey, an immigrant advocacy group based in Elizabeth.

The front-page article in The Record, “Raise Praised,” on Feb. 5, captured two moments during the event in separate photos -- supporters cheering enthusiastically with their hands raised and Gov. Murphy with both arms pointing to the sky; beneath him at the podium there was a placard with the statement, “A $15 Minimum Wage: A Path to the Middle Class.”