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The Hypocrisy Of Corporate Welfare: It’s Bigger Than Trump


#1

The Hypocrisy Of Corporate Welfare: It’s Bigger Than Trump

Les Leopold

To paraphrase the famous Claude Raines line from Casablanca, “I am shockedshocked—to find that corporate bribes are going on here!”


#2

Although the Carrier deal is indeed small potatoes compared to nearly four decades of ever growing corporate welfare, the fact that Trump is participating in the doling out of corporate welfare before he is POTUS contradicts much of his campaign rhetoric.

Although POTUS candidate Obama did enable tens of trillions of dollars in bankster bailouts in 2008, he was a sitting US Senator when he did so.


#3

Nobody is questioning the corporate welfare bums who are essential to the success of "free market" capitalism in the free world. Of course, unless the taxpaper bails them out hourly their "businesses" would disappear. When it costs about $100,000 per worker to "save a job", just give it directly to the worker and save the cost of incompetent management.


#4

I predict the first bill to hit Trump's desk will be the tax- free repatriation of off- shore profits aided by Democratic senators led by Chuck Schumer.


#5

I'm glad the author writes of this important issue - one which is not a partisan one, and one which could build a broader coalition of Americans from across the political spectrum...a way to bridge the apparent partisan divide.

However, this practice is now common even down to the local government level. Spurred on by what a friend calls, "political entrepreneurs" among the land speculators, real estate developers & builders, cities and counties routinely compete with each other each trying to outdo the others' offers to induce corporate relocations or expansions.

The Democrats on the City Council where I'm from are no different than the Repug's in this regard. They are closet believers in what Jim Hightower rightly called "tinkle down" economics...the lie that if they give enough of the public treasury to all these folk, they'll "create jobs" (a code word for relocated workers-new homebuyers), and wealth will magically "tinkle down on" the pee-ons.

Never, not once among all the times they've done this where I live, has there ever been even an honest projection of a cost-benefit analysis for the giveaways, much less a retrospective one; and so they are always free to do it over and over again.

The losers? Of course, the regular citizens who see not only property taxes steadily rise beyond inflation, but also other taxes and fees as well. Someone, after all, has to make up for the giveaways.

Of course, even with re-distribution of many of the costs to the existing residents, deficits continue to grow, so service levels for essential services steadily are degraded even as the public's costs increase.

I'm sure not a Democrat among those responsible would admit to being trickle-down fans, but in the end, that's what it's all about.


#6

Probably more like repatriation at 5% or 10% tax, combined with an overall lowering of the corporate tax rate.