Friday, November 9, 2012
Corporate Welfare: Exhibit 1
Taxpayer Storm Shield Protects Casinos as Poor Take on Water. Bloomberg News, 11/5/2012)
Excerpt: What unfolded in this East Coast resort city of 40,000, the second-largest U.S. gambling market behind Las Vegas, shows how government decisions helped businesses escape almost unscathed and open just days after the storm, while people living paycheck to paycheck suffered.
Atlantic City casinos endure storm mostly unharmed. (Delaware Online, 10/30/2012.)
Excerpt: “We had no real damage at all; I don’t know how we didn’t, but we didn’t,” said Don Marrandino, eastern division president of Caesars Entertainment. The company owns four of Atlantic City’s casinos: Harrah’s, Bally’s, Caesars and the Showboat. [See above, Don.]
Government Spends More on Corporate Welfare Subsidies than Social Welfare Programs. (Think By Numbers, 8/5/2012)
$59,000,000,000 spent on traditional social welfare programs.
$92,000,000,000 spent on corporate subsidies.
And now the view from Fantasyland.