Unending Welfare for Corporations, But Not for Citizens
From Ring of Fire:
The corporate welfare queens happily accept billions of dollars in development incentives and tax subsidies. A new report by Good Jobs First, a watchdog group that monitors corporate subsidies, found that a small amount of large corporations have received billions in corporate welfare over the last 20 years.
Good Jobs First has found that 25,000 subsidy awards, or 75 percent of cumulative disclosed subsidy dollars, is distributed to only 965 corporations to the tune of $110 billion. The top receiving parent company for number of subsidies is Dow Chemical with 416 subsidy awards that equal nearly $1.5 billion. Boeing received only 137 by comparison, yet state and local governments paid the aviation company over $13 billion.
According to a press release that accompanied the study, “some of these big recipients, such as Boeing are well known for aggressively seeking tax breaks by pitting states against each other for jobs.” Simply put, corporations will pitch job opportunities to different states and will sell those jobs away to the highest bidder.
You can read the full article here at Ring of Fire.
= new reply since forum marked as read
