Would you like to give $700 to some
big companies in your area?
(Hint: you already did, last year).
CommonDreams.org reports that U.S. states, counties and cities are
giving about $80 billion a year to private companies This is money taken right
out of the taxpayers' pockets….and we're not even mentioning all the federal tax
benefits and handouts to businesses.
This corporate welfare takes
the form of tax breaks and tax forgiveness for new installations, low-interest
loans for construction and other economic development channels, often designed
to "lure" a company to "build a new facility" that will
"create new jobs."
The track record of these
companies in actually creating the promised jobs is poor. Their success rate
isn't great. Often, loans aren't repaid.
Details about
the $80 billion in subsidies to business are in this New York Times report….and the Times says the total is
almost certainly understated.
Now, $80 billion is about $700
per family. Imagine what you could do with that money.
What really bites is that many big corporations and companies who take these benefits are
spending their own cash to pay for political activism that trumpets "small
government," deplores our national debt and wants to cut benefits to poor
people.
Why do we keep re-electing the politicians
who approve this transfer of wealth from taxpayers to businesses?
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