Amazon Has Gobbled Up A Record $4.1 Billion In Government Subsidies — Bootstraps!

  • Amazon has received a record amount of corporate welfare in 2021, which brings its jaw-dropping grand total up to $4,148,000,000 in government subsidies.
  • Amazon claims it’s worthy of subsidies because it created over 400,000 jobs last year, but a study found that they attracted staff from other employers, thus leading to no net job gains.
  • A UPS driver in New Jersey makes an average of $38.35 an hour, while an Amazon driver is paid half of that with a wage of just $19.25, the Financial Times notes.

Ray Hartmann from Rawstory writes:

“Corporate giant Amazon has amassed a record amount of corporate welfare in 2021 to bring its total to an astounding $4,148,000,000, according to the economic development watchdog Good Jobs First.

In 2021 alone, Amazon has netted $650 million in grants, tax exemptions, and other incentives from states and municipalities in 2021 — “its most lucrative year of perks yet,” notes this commentary at Nasdaq.com, citing Good Jobs First data. And that’s with three months left in the year.

“Amazon is famously great at delivering — but, it turns out, the e-tail giant is pretty good at receiving, too,” the commentary notes. “States and municipalities have bent over backwards to entice the incredibly profitable firm to open up warehouses in their backyards. But it remains unclear how much good that will do for anyone but Amazon.”

It added this:

“Amazon says it’s worthy of subsidies because it created more than 400,000 jobs last year alone. But a 2018 study by the Economic Policy Institute found that, while new Amazon fulfilment centres increased warehouse jobs by 30% in an area, they attracted staff from other employers and thus led to no net job gains…”

See full story here.



Categories: Business, Government, Labor, Politics, Tech

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: