08/10/2018

No, Annie Lowrey, Taxpayers Didn’t Give Bezos His Wealth

John Tamny, RealClearPolitics

In September of 2017, the New York Times reported that Amazon “employed 300,000 people globally by its 20th year as a public company, the fastest any American company has reached that mark.”  This stat came to mind while contemplating Annie Lowrey’s recent effort to cast Jeff Bezos’s immense wealth in a negative light.  While she takes care to acknowledge some of Bezos’s herculean achievements, Lowrey contends that Bezos didn’t build an amazing corporation staffed by the wildly talented as much as policy failure, taxpayer generosity and worker exploitation combined to make Amazon great.  

If Lowrey is to be believed, Amazon corralled its workforce through intimidation, near-indentured servitude, and poverty-inducing thrift, only to leave the bill for employees who endure pay that is below the U.S.’s “living wage” to taxpayers in the form of “policies like the Earned Income Tax Credit, Medicaid, and the Supplemental Nutrition Assistance Program.” Bezos’s supposed parsimony is the driver of Amazon’s sweatshop-style conditions for workers who, according to Lowrey, suffer a pay gap relative to Amazon executives that is “shocking.” Apparently Amazon’s employees aren’t as shocked.  As of this writing, there’s no evidence that those in the company’s employ are trailed by the gun-toting on the way in to work each day.   

Considering the excitement within North American cities when Amazon announced plans to create a 2nd headquarters, city mayors and councils are similarly not taken aback. They see winning HQ2 and all the opportunity it represents for their job-hungry constituents as the path to electoral permanence.  The clamor for HQ2 is a reminder that the immense gap between the “richest” and their allegedly exploited employees obscures how well those at the wrong end of the curve are compensated in a relative sense.  Lowrey knows rather well how privileged are those who get to work for the superrich as her employment at The Atlantic attests.  Maybe she forgot.  Needless to say, much of the rest of the world’s population (and just about every journalist) would give anything to work for Amazon or her employer.  Life is a quite a bit more certain when your boss is a billionaire. 

Read full article



You May Also Like:

California Wants To Tax Texts Eli Blumenthal and Dalvin Brown, USA Today

The Fallacy Of The Black Lives Matter Movement Thomas Maynard, American Thinker

The Global Swamp Daniel Henninger, The Wall Street Journal

Students Walkout To Protest Firing Of Teacher Who Refused To Use Transgendered Student’s Preferred Gender Pronouns Kemberlee Kaye, Legal Insurrection

Excuse Me? Did This Democratic Congressman Say He Would Love To Regulate Content Of Speech? Matt Vespa, Townhall

The Administrative State May Be Facing An Effective Death Sentence And It Deserves It streiff, RedState

Many Millions Of Americans Work And Shop At Walmart. So, Why Does Bernie Sanders Want To Stop Them? Amanda Snell and Patrick Tyrrell, The Daily Signal

America Is Intolerably Intolerant David French, National Review

Boy Scouts On Verge Of Bankruptcy Scott Morefield, Daily Caller

What NYC Really Needs For Christmas: A Better Mayor Michael Goodwin, New York Post

Most U.S. Financial Officers Think A Recession Will Hit By 2020 John Carney, Breitbart

For More go to the Home Page >>>

Join Our Email List



section

Bookshelf

FreeMarket Central

Some titles recent, all recommended -

Special Video Feature

FreeMarket Central

Voices From The 2017 International Students For Liberty Conference

section

In Search Of History

4,000 Years Of Price Control

Tablets, said to be 200 years older than the Babylonian Code of Hammurabi ... show that the ancient kingdom of Eshnunna had wage control and price control. The news ought not to have come as a surprise. For the code of Hammurabi itself (unearthed in 1902), which was promulgated earlier than 2000 B.C., fixed prices, wages, interest rates, and fees. This makes price control at least about 4,000 years old. ...

 

Ironically, it is those who now wish to return to this ancient totalitarian device who are fondest of calling themselves “progressives.” They are also fond of saying that those who believe in economic liberty “are living in the nineteenth century.” These controlists have yet to learn that they themselves are still living, as the discoveries in Babylonia attest, in the nineteenth century—B.C.!

-- Henry Hazlitt,

Shadow Stats Snapshot


FreeMarket Central

ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

  • Unemployment:
    FreeMarket Central BLS: 4.05%
    FreeMarket Central Shadow Stats: 21.5%
  • Inflation:
    FreeMarket Central November Year-to-Year: 2.87% (CPI-U*)
    FreeMarket Central Shadow Stats: 9.9%

*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]

section