A democracy lost to corporate socialism The Hill [View all]

[sagesnow]

"Many of the retail stores you walk into, especially big box retailers and in some cases entire shopping centers, legally keep the sales taxes you pay at the cash register," he said. "That's because government bought the land, often after condemning it through eminent domain and had the buildings erected to the specifications of the company, but the land and building are actually owned by a government entity, and the cost of buying the land and putting up the building are paid for with your taxpayer dollars. That's not capitalism. That's not market economics. It's a system in which governments pick winners and create losers."

"Johnston cited several examples of corporate socialism. In Lockport, N.Y., Yahoo is receiving $2 million for every job it creates in the area, which pay on average $45,000 annually. Alcoa is currently receiving $5.6 billion in electricity discounts from New York state, which would be better spent decreasing utility rates for residents across the state. Boeing has received billions in subsidies to build a plant in South Carolina, while transparency remains elusive regarding the exact worth of the subsidies and incentives the company received. In his 2007 book "Free Lunch," Johnston discusses how a corporation like Cabela's received $32 million in government subsidies to build, at the time, the largest outdoor recreational gear store in the country in Hamburg, Pa., while a local competitor who sold the same products at lower prices went out of business because of the deal."

https://thehill.com/blogs/pundits-blog/economy-budget/268947-a-democracy-lost-to-corporate-socialism