Alexandria Ocasio-Cortez Knows Nothing About Economics
Alexandria Ocasio-Cortez, the Democratic candidate for New York’s 14th congressional district, knows nothing about Economics. In several T.V appearances, Ocasio-Cortez discusses “economic issues” and her plans for the United States of America’s economy. She uses statistics to back up her argument, however, the statistics that she uses are completely wrong.
Ocasio-Cortez in an interview with Trevor Noah said that 200 million Americans make less than 20,000 dollars a year. Wage statistics for 2016, show that 58,901,394, people made less than 20,000 dollars a year. She stated that 141,098, 606 more people made less than 20,000 than did. This either means that Ocasio-Cortez did not know the statistics or purposely inflated them. She also stated that 40% of our nation makes less than 20,000 dollars a year. This is a bald-faced lie as wage statistics only account for wage earners salary over a fiscal year. The 2016 statistics indicate that 36% of wage earners make a salary that is less than 20,000 dollars a year.
Then Ocasio-Cortez says in an interview that unemployment is low because everyone is working two jobs and working 70-hour workweeks. The unemployment rate is calculated by dividing the number of unemployed people by the labor force. An individual that is working two jobs and working 70-hour workweeks would not be included in the Unemployment rate. Unemployment occurs when the labor force is seeking work and cannot find it. It is truly troubling that Ocasio-Cortez, an economics major, cannot even calculate the unemployment rate.
Then Ocasio-Cortez talked about the wealthy elites not paying their fair share of taxes. Then she said that if Warren Buffet paid as much in taxes as his secretary it would be fair. Trever Noah asked how much his secretary pays and she said, “like 15%.” Individuals who make more than 500,000 dollars a year pay an annual tax of 39.6% in 2016. Warren Buffet pays 24.6 % more taxes each year than his secretary does. This means that if Warren Buffet had an annual tax rate of 15% he would pay fewer taxes a year.
Alexandria Ocasio-Cortez is an economics major running to be a congresswoman in the House of Representatives. If you vote for her you are going to be entrusting the economy of the United States to a woman who does not understand how to calculate unemployment, much less fix the issue. Americans need leaders in Congress that can understand the complex economic issues we are having and can provide us with practical solutions to fix them. Alexandria Ocasio-Cortez is clearly not capable of understanding the complex economic issues America is enduring.