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The Atlantic – We Should Be ‘Screaming Mad’ About Amazon’s ‘Corporate Welfare’’

Summary:
[embedded content] You may have heard by now that Amazon’s new headquarters will soon call the New York and Washington, D.C., metropolitan areas home. This decision has engendered much criticism. But the Atlantic staff writer Derek Thompson doesn’t think the vitriol is enough. “We should all be screaming mad about the state of corporate handouts in this country,” Thompson says in the latest Atlantic Argument. He argues that corporate subsidies, such as those given to Amazon by New York State, should be illegal—and according to Thompson, this is a nonpartisan issue. “Whether you're a far-left critic of corporations or a far-right critic of welfare, surely you can agree that welfare for corporations is just plain stupid,” Thompson says.

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You may have heard by now that Amazon’s new headquarters will soon call the New York and Washington, D.C., metropolitan areas home. This decision has engendered much criticism. But the Atlantic staff writer Derek Thompson doesn’t think the vitriol is enough. “We should all be screaming mad about the state of corporate handouts in this country,” Thompson says in the latest Atlantic Argument. He argues that corporate subsidies, such as those given to Amazon by New York State, should be illegal—and according to Thompson, this is a nonpartisan issue. “Whether you're a far-left critic of corporations or a far-right critic of welfare, surely you can agree that welfare for corporations is just plain stupid,” Thompson says.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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