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New York’s economic development policy was all about developing the pocketbooks of campaign donors and leaving working class and poor New Yorkers behind, cutting out small businesses, favoring cronies, leaving communities struggling for resources.
The demand is still, more than ever, #DefundThePolice, #FundThePeople #DefendBlackLives.
Promises that a free lunch can be had by relying heavily on private investors for infrastructure should be viewed skeptically. Tax credits dangled to entice private financiers and developers to provide infrastructure provide no compelling efficiency gains and mostly just open up possibilities for corruption and crony capitalism.
Corporations are stashing billions of dollars offshore to avoid paying taxes.
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