Portrait of Alexandria Ocasio-Cortez
Politician · policy
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Alexandria Ocasio-Cortez on Economy

Progressive economic reformer (strong)

Alexandria Ocasio-Cortez views the current economic system as one that requires fundamental evolution, often stating that capitalism is irredeemable. She rejects state socialism but champions democratic socialism, emphasizing compatibility with free-market economies through structures like worker cooperatives and strong unionization. Her approach involves leveraging progressive policy levers, such as significantly raising marginal tax rates on top earners and reducing defense spending, to fund expansive social and environmental programs for the working class.

Context

Alexandria Ocasio-Cortez's economic positions are fundamentally shaped by her identity as a member of the Democratic Socialists of America (DSA), which informs her progressive platform. Her early life experiences, including working as a bartender to help her family fight foreclosure, provided her with a 'front-row seat' to economic precarity. This background influences her focus on policies designed to increase the bargaining power of workers and address systemic economic inequality.

Actions Taken

  1. Legislation
    Proposed a public banking bill with Representative Rashida Tlaib to provide state and local public banks with Federal Reserve access and national guidelines.
  2. Legislation
    Announced a bill to implement postal banking pilot programs in underserved rural and urban areas to combat predatory check-cashing services.
  3. Voting Record
    Voted against the Fiscal Responsibility Act of 2023, which passed with bipartisan support, as part of her opposition to deficit-neutral fiscal rules that she feels hamstring progressive policy.
  4. Advocacy
    Promoted the Raise the Wage Act by returning to bartending to criticize the sub-minimum wage exemption for tipped workers, calling a $2.13 hourly wage 'indentured servitude'.

Key Quotes

To me, capitalism is irredeemable.

Conference speech January 1, 2018 — Stating her ultimate view on the current economic structure.

Any job that pays $2.13 per hour is not a job, it is indentured servitude.

Speech to restaurant workers May 1, 2019 — Speaking while promoting the Raise the Wage Act.

I think that we are going to see an evolution in our economic system of an unprecedented degree, and it's hard to say what direction that that takes.

PBS Interview (Firing Line) January 1, 2020 — On the ultimate trajectory away from the current system.

Related Positions

  • Green New Deal A massive economic mobilization plan aimed at transitioning the US to 100% renewables while creating jobs, financed partly by higher taxes on the wealthy.
  • Medicare for All Advocacy for a single-payer healthcare system is a core component of her economic vision to guarantee medical care as a human right.
  • $15 Federal Minimum Wage Strong support for labor rights, including raising the minimum wage for all workers, whom she argues should not be subjected to 'indentured servitude'.

Criticism

Marc Thiessen

Argued that Ocasio-Cortez's opposition to the Amazon HQ2 subsidies in New York cost the city an estimated $27 billion in tax revenue and high-paying tech jobs, calling her economic illiteracy dangerous.