Conservative65
Gold Member
- Oct 14, 2014
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- #121
a subsidy is a subsidy. the right doesn't seem to have a problem with corporate welfare as long as it isn't individual welfare.I think people are missing the big picture here. If the gov sends millions of jobs out of the country then it should take care of the ones it fucked. Why do you blame the victim? Because you dont know the truth or maybe you dont care about the truth.
MAR 14, 2014 @ 10:09 AM 175,779 VIEWSThe Little Black Book of Billionaire Secrets
Where Is The Outrage Over Corporate Welfare?
Tax Analysts
The leading global publisher of tax news, analysis and commentary
Opinions expressed by Forbes Contributors are their own.
David Brunori, Contributor
I recently read the February 24 Good Jobs First report, “Subsidizing the Corporate One Percent,” by Philip Mattera, a respected thought leader in our business. It says that three-quarters of all state economic development subsidies went to just 965 corporations since the beginning of the study in 1976. The Fortune 500 corporations alone accounted for more than 16,000 subsidy awards, worth $63 billion – mostly in the form of tax breaks.
Think about that. The largest, wealthiest, most powerful organizations in the world are on the public dole. Where is the outrage? Back when I was young, people went into a frenzy at the thought of some unemployed person using food stamps to buy liquor or cigarettes. Ronald Reagan famously campaigned against welfare queens. The right has always been obsessed with moochers. But Boeing receives $13 billion in government handouts and everyone yawns, when conservatives should be grabbing their pitchforks.
According to Good Jobs First, there are 514 economic development programs in the 50 states and the District of Columbia. More than 245,000 awards have been granted under those programs. I ask again, where is the outrage? The system is antithetical to the idea of free markets. A quarter of a million times, state governments decided what is best for producers and consumers. That should make us cringe. First, the government is inefficient at providing public goods, and it is terrible at manipulating the markets for private goods. But more importantly, those 514 economic development programs are almost all the result of insidious cronyism. Narrow business interests manipulate government policymakers, and those interests prosper to the detriment of everyone else. Free markets be damned.
And while I’m looking for outrage, where are the liberals? The 965 companies in the report received over $110 billion of public money. Berkshire Hathaway, a company with $485 billion in assets and $20 billion in profits, received over $1 billion of that money. Its chair, Warren Buffett, is worth about $58 billion. Buffett, by the way, is still a darling of the left. He has some nerve to call for higher taxes. The billion dollars his companies took would pay for a lot of teachers, healthcare, and other public services.
I don’t blame the corporations. They act rationally. If someone gives you $1 billion, you take it. The blame lies with us. The sheer size of the corporate welfare system should spark outrage whether we are conservatives, liberals, or libertarians. And that outrage should be reflected in how we vote. In the meantime, kudos to Good Jobs First for continuing to highlight this problem.
Put America back to work. Thats what we want. Jobs and good pay. Thats how you build a strong economy. Not with the stock market. Now, we all know how fiscal responsible you are by your own words so, where is your outrage?
Typical Commie; thinking that letting people keep their own money that they worked for (instead of handing it over to government) is welfare.
No such thing as corporate welfare.