We rarely agree with socialist Congresswoman-elect Alexandria Ocasio-Cortez, but she’s right to call billions of dollars in taxpayer subsidies for Amazon “extremely concerning.” These handouts to one of the richest companies in the history of the world, with an essentially zero cost of capital, is crony capitalism at its worst.

Amazon staged a year-long competition to find a second headquarters beyond its Seattle home, and politicians bid for it like millionaires at a Picasso auction. Except they were bidding with other people’s...