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Corporate Welfare, Is It Real?

s-anthony
Posts: 2,582
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12/6/2012 11:54:32 AM
Posted: 3 years ago
Listening to NPR, National Public Radio, yesterday, it was reported businesses receive 80 billion dollars, a year, in government subsidies, from state and local governments. Since many state legislators only work part-time, they, also, work as agents to many large businesses in acquiring large subsidies for their clients, while receiving up to 30% in commission fees. Even at the expense of sacrificing much needed revenue for education and health care, lawmakers designate large sums of money in government subsidies for large businesses.
RoyLatham
Posts: 4,488
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12/6/2012 12:24:45 PM
Posted: 3 years ago
Yes, "corporate welfare" exists, although if it is only $80 billion, that's not too big deal. It all should be ended, of course.

Big high tech companies in Silicon Valley get special treatment to keep them from moving out of California. Facebook got a very sweet tax break, for example.

The oil industry gets tax breaks breaks, but the subsidies go to the small exploration companies, not the big oil companies. The subsidies are less than 10% of what the industry pays in taxes. High tech pays much less in taxes than oil, despite companies like Apple having astronomical profit margins.
Khaos_Mage
Posts: 23,214
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12/6/2012 2:40:04 PM
Posted: 3 years ago
At 12/6/2012 11:54:32 AM, s-anthony wrote:
Listening to NPR, National Public Radio, yesterday, it was reported businesses receive 80 billion dollars, a year, in government subsidies, from state and local governments. Since many state legislators only work part-time, they, also, work as agents to many large businesses in acquiring large subsidies for their clients, while receiving up to 30% in commission fees. Even at the expense of sacrificing much needed revenue for education and health care, lawmakers designate large sums of money in government subsidies for large businesses.

There is what Roy Latham said, plus other tax breaks that actually are designed to help "the downtrodden", like work credits. One of the general business credits on form 3800, is the Work Opportunity Credit, it gives tax credits to the following:
" Long-term family assistance recipient,
" Qualified recipient of Temporary Assistance for Needy Families (TANF),
" Qualified veteran,
" Qualified ex-felon,
" Designated community resident,
" Vocational rehabilitation referral,
" Summer youth employee,
" SNAP recipient,
" SSI recipient,
" Unemployed veteran (if he or she began working for you before 2011), or
" Disconnected youth (if he or she began working for you before 2011).

There is also another one, or there was one, that aided the elderly and the blind.

Think of how evil Walmart is viewed, yet I am sure they use these credits. If not for these credits, it could be argued that some employees wouldn't have been hired (senior greeters for example).

I would like to point out that PBS, MPR, and I think NPR also receives a large portion of their funding from corporate welfare. They are issued grants from the Corporation for Public Broadcasting, which is simply given money from the government. To my knowledge, there is no other revenue.

And let's not forget sports stadiums (at least in MN)...
My work here is, finally, done.
RaxsonJaine
Posts: 46
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12/6/2012 4:20:22 PM
Posted: 3 years ago
Corporate welfare, as a federal program, should not exist.

If states want to do so, then fine.
twocupcakes: 15 = 13