Monday, November 25, 2013

In Ryan's World, It's More Than Just the 47%

It was Scott Walker's week, but Paul Ryan is wedging his way into the national discourse. (Capital Times, 11/24/2013)

Paul Ryan, from 2011.

Guess Ryan missed this 2006 policy analysis from his buddies at the Cato Institute.

The Corporate Welfare State: How the Federal Government Subsidizes U.S. Businesses.

From the summary. Supporters of corporate welfare programs often justify them as remedying some sort of market failure. Often the market failures on which the programs are predicated are either overblown or don’t exist. Yet the federal government continues to subsidize some of the biggest companies in America. Boeing, Xerox, IBM, Motorola, Dow Chemical, General Electric, and others have received millions in taxpayer-funded benefits through programs like the Advanced Technology Program and the Export-Import Bank. In addition, the federal crop subsidy programs continue to fund the wealthiest farmers.

But then, as we've been hearing lately, companies are people, too.  (Hmm, wonder if this book was on Romney's reading list back in 2003?)

Corporate welfare, of course, is not limited to the federal government.

As Companies Seek Tax Deals, Governments Pay High Price. (The New York Times, 12/1/2012)

Excerpt:   A Times investigation has examined and tallied thousands of local incentives granted nationwide and has found that states, counties and cities are giving up more than $80 billion each year to companies. The beneficiaries come from virtually every corner of the corporate world, encompassing oil and coal conglomerates, technology and entertainment companies, banks and big-box retail chains.

Related post:
Cozy (No mystery).  (6/26/2013)
Gretchen, Have I Got an Eye-Opener or Two for You!  (12/4/2012)
Corporate welfare:  Exhibit 1.  (11/9/2012)

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