New York Times photo
Here below is a section from Cortez’s Green New Deal document. Written by a true Socialist mind, with less sense than a grade school child. To sell it; she sounds like a time-share sales person. It isn’t an expense, it is a “MASSIVE” (HER WORDS) INVESTMENT”; an investment WE would make. Not going to calling funds gobbling a tax……… nope, an investment.
Read below, just a portion of the document. Also, here is the link to the document, which I believe Cortez has since removed from her website. https://assets.documentcloud.org/documents/5729035/Green-New-Deal-FAQ.pdf
“Why do we need a sweeping Green New Deal investment program? Why
can’t we just rely on regulations and taxes and the private sector to invest
alone such as a carbon tax or a ban on fossil fuels?
The level of investment required is massive. Even if every billionaire and
company came together and were willing to pour all the resources at their
disposal into this investment, the aggregate value of the investments they
could make would not be sufficient.
The speed of investment required will be massive. Even if all the billionaires
and companies could make the investments required, they would not be able
to pull together a coordinated response in the narrow window of time
required to jump-start major new projects and major new economic sectors.
Also, private companies are wary of making massive investments in unproven
research and technologies; the government, however, has the time horizon to
be able to patiently make investments in new tech and R&D, without
necessarily having a commercial outcome or application in mind at the time
the investment is made. Major examples of government investments in “new”
tech that subsequently spurred a boom in the private section include DARPA projects, the creation of the internet – and, perhaps most recently, the
government’s investment in Tesla.
Simply put, we don’t need to just stop doing some things we are doing (like
using fossil fuels for energy needs); we also need to start doing new things
(like overhauling whole industries or retrofitting all buildings to be energy
efficient). Starting to do new things requires some upfront investment. In the
same way that a company that is trying to change how it does business may
need to make big upfront capital investments today in order to reap future
benefits (for e.g., building a new factory to increase production or buying new
hardware and software to totally modernize its IT system), a country that is
trying to change how its economy works will need to make big investments
today to jump-start and develop new projects and sectors to power the new
Merely incentivizing the private sector doesn’t work – e.g. the tax incentives
and subsidies given to wind and solar projects have been a valuable spur to
growth in the US renewables industry but, even with such investment promotion subsidies, the present level of such projects is simply inadequate
to transition to a fully greenhouse gas neutral economy as quickly as needed.
Once again, we’re not saying that there isn’t a role for private sector
investments; we’re just saying that the level of investment required will need
every actor to pitch in and that the government is best placed to be the