Tag Archive: Corporate Welfare


Ranking Known State Subsidies To Private Businesses

 

 

 

 

 

” While corporate welfare, whether in the form of subsidies or bailouts, is more often associated with the federal government, state governments also regularly use generous, targeted subsidy packages to entice corporations to locate within their borders. As these charts show, corporate welfare is a significant problem at the state level, with New York State leading the rest.

  This week’s charts use data from the Subsidy Tracker 2.0 dataset compiled by Good Jobs First, a government accountability and smart-growth advocacy group, to display the states (plus the District of Columbia) that disperse the highest amounts and numbers of subsidies, along with the top parent corporations that cumulatively benefit from these subsidies. 

  Comprehensive data on total state assistance to private businesses have long been hard to access, since the relevant information has been inconsistently scattered among various government reports and websites. The Subsidy Tracker project is an ambitious effort to compile state data on subsidized projects, amounts, beneficiaries, and outcomes in one location. The dataset distinguishes between 11 types of subsidies, including tax credits and rebates, property tax abatements, low-cost loans, infrastructure assistance, and enterprise zones. The dataset is a constantly updated work-in-progress; while it does not yet contain every single state subsidy, it is one of the most comprehensive sources of state subsidies assembled so far. Additionally, the database compilers decided to count sales tax exemptions on business purchases of inputs as a “subsidy.” However, some economists argue that applying sales taxes to input purchases would inefficiently favor vertically integrated firms over firms that purchase inputs from other businesses. Therefore, this kind of sales tax exemption is not a “subsidy,” but an efficient tax policy. Despite these important limitations, the dataset can give us an early glimpse of the rough value of the  subsidies that each state issues. The User Guide provides further details on the methodology.

  The first chart displays the states known to have extended cumulative subsidies exceeding $1 billion, according to the dataset. In the top portion, the states are ranked, left to right, from the highest amount of subsidies to the lowest amount of subsidies. In the bottom portion, the equivalent number of deals are displayed for each state. 

  New York state clearly leads the pack, extending a known 71,759 subsidy deals worth $21.71 billion. The second highest corporate beneficiary in the dataset, Alcoa, received a plum deal from the Empire State in 2007, raking in an astounding $5.6 billion to build an aluminum plant. “

Veronique de Rugy at Mercatus has much more on state funded corporate welfare

 

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Stop The American Hustle

 

 

 

” In 2012, the people of North Carolina paid Marvel Studios $20 million to shoot Robert Downey Jr.’s latest comic-book sequel, “Iron Man 3,” in their state. It was just one of many movies and television shows taxpayers subsidized in North Carolina that year. Among them were season 8 of“The Bachelorette” and Jennifer Aniston’s “We’re the Millers” — a film that The Fresno Bee said “aims for mediocrity and hits it with a dull thud.”

  Subsidies like these for the entertainment industry exist all over the country, in Florida and Michigan and Ohio. Georgia taxpayers in 2012 funded “Tyler Perry’s Aunt Bam’s Place,” “Tyler Perry’s I Don’t Want to Do Wrong” and the latest Vince Vaughn–Luke Wilson buddy flick, “The Internship.”

  With so much public money going toward these ventures, it’s reasonable to question whether they bring the public any actual benefit — and there are plenty of reasons to be skeptical. In 2010 in Michigan, the state Senate authored a report on film industry incentives and found that, in one year, the state had spent $100 million to create only $60 million in economic activity. Of the spending stimulated — by the production of such gems as “A Very Harold and Kumar Christmas”— the report found that almost half occurred out of state. Such doubts were compounded by a November report from the office of New York Gov. Andrew Cuomo, which could not find “sufficient justification for the size of the film credits.” The amount of public money spent on a production company, it said, was the equivalent of paying a factory 40 times what it owed in taxes.

  The film industry, now under scrutiny for engaging in these practices, is just one example of a much larger problem. Tax credits for businesses, in theory, are meant to be a means of using public money to stimulate private-sector growth and create jobs. Yet many subsidies don’t pay off in the form of public benefits, and few come with any measures for accountability, preventing the public from ever knowing if it’s getting its money’s worth. Walmart, for instance, has used “more than $1.2 billion in tax breaks, free land, infrastructure assistance, low-cost financing and outright grants from state and local governments around the country,” according to Good Jobs First’s Wal-Mart Subsidy Watch website. Sports franchises frequently approach cities and suburban regions with proposals for new stadiums funded by public dollars, touting them as job creators.”

 

 

 

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GOP Crafts Plan To Wreck The Country, Lose Voters

 

 

 

” As House Republicans prepare to sell out the country on immigration this week, Phyllis Schlafly has produced a stunning report on how immigration is changing the country. The report is still embargoed, but someone slipped me a copy, and it’s too important to wait.

  Leave aside the harm cheap labor being dumped on the country does to the millions of unemployed Americans. What does it mean for the Republican Party?

  Citing surveys from the Pew Research Center, the Pew Hispanic Center, Gallup, NBC News, Harris polling, the Annenberg Policy Center, Latino Decisions, the Center for Immigration Studies and the Hudson Institute, Schlafly’s report overwhelmingly demonstrates that merely continuing our current immigration policies spells doom for the Republican Party.

  Immigrants — all immigrants — have always been the bulwark of the Democratic Party. For one thing, recent arrivals tend to be poor and in need of government assistance. Also, they’re coming from societies that are far more left-wing than our own. History shows that, rather than fleeing those policies, they bring their cultures with them. (Look at what New Yorkers did to Vermont.) “

 

 

The facts speak for themselves and Coulter is not shy in presenting them …

 

 

” This is not a secret. For at least a century, there’s never been a period when a majority of immigrants weren’t Democrats.

  At the current accelerated rate of immigration — 1.1 million new immigrants every year — Republicans will be a fringe party in about a decade.

   Thanks to endless polling, we have a pretty good idea of what most immigrants believe.

  According to a Harris poll, 81 percent of native-born citizens think the schools should teach students to be proud of being American. Only 50 percent of naturalized U.S. citizens do.

  While 67 percent of native-born Americans believe our Constitution is a higher legal authority than international law, only 37 percent of naturalized citizens agree.

  No wonder they vote 2-1 for the Democrats.”

 

 

Read the whole thing at Rightwing News

 

 

 

 

 

 

 

 

Sen. Mike Lee: Secure The Border Before Discussing Legalization

 

 

 

” Sen. Lee appeared on Fox News on Thursday to stress that the GOP should not be looking to pass comprehensive immigration reform that includes border security but should, instead, be focusing on revamping the nation’s border security before addressing the legalization process.

“In order to reform our immigration code, and I agree that we need to reform it, we need to undertake this in a step-by-step fashion, and the very first thing we need to do is secure the border,” Lee stated. “And we also need to reform our antiquated, outdated visa system – our legal immigration processes.” “

 

Read on

 

 

 

 

 

 

 

10 Surprising Government Programs That Are Costing You $10.2 Billion

 

 

 

 

” Here’s one program you probably didn’t realize your tax dollars were funding: a pet-shampoo company.

  A new spending bill takes center stage this week in Congress, and according to a Heritage Foundation report, lawmakers could use it to save taxpayers $10.2 billion by axing subsidies including one bolstering a pet-shampoo company.

  Romina Boccia, a Heritage budget expert and author of the report, says finding savings for the American people would be wise for congressional appropriators, especially “after reaching an agreement to spend nearly $45 billion more in 2014 than allowed under the sequestration spending caps.”

  Her report outlines 10 federal programs full of spending the American public probably doesn’t even know existed.

  The following is a list of the 10 programs where Boccia believes Congress can save taxpayers money. Click here to read the full report.

  1. Cut Pet-Shampoo and Similar Projects, Save $3.1 billion: The U.S. Department of Housing and Urban Development Community Development Block Grant (CDBG) program funds “wasteful parochial projects, which include funding a pet-shampoo company and issuing risky business loans.””

 

 

Read about more government waste here , but remember those sage words from M Pelosi … ” the cupboard is bare ” …

 

 

 

 

 

 

 

 

CORPORATE WELFARE IS ALMOST DOUBLE SOCIAL WELFARE

 

 

 

” According to a new report, the federal government spent $59 Billion on social welfare programs in 2006. While that number is high, it is nearly half of the taxpayer dollars given to assist corporations. That number, a staggering $92 Billion.

Huge, and likely profitable corporations, were able to get tax breaks for themselves, as well as some receive direct spending from the Federal Government.

According to the report, Think by Numbers, the definition of corporate welfare isn’t even lucrative no-bid contracts for defense contractors, but just the massive subsidies offered by the Feds to industries such as coal, wind, ethanol and oil.”

 

 

    How much did money did the single mom welfare recipient down the road from you donate to your Congressman ? Or the grandma living on social security ? Or the disabled veteran ? The pols know which side of the bread the butter is on . The corporations have much larger election campaign kitties to donate from than do the poor slob citizens on the dole .

   As long as there is a need to stand for re-election there will be a need for the politicians to pander to big money interests and that requires some quid pro quo . The time for term limits is now . One And Done … End re-election campaigns , End fundraisers , End corporate welfare …

 

 

 

 

Soros & Fellow Billionaires For Open Borders Lobby GOP On Amnesty

 

 

 

” Anyway, that’s all boilerplate and hardly worth commenting on, as much as it might irk me. But I got to thinking about the groups hosting this thing and thought it’d be interesting to match up their principals and supporters with the Forbes 400 list. Turns out that “Billionaires for Open Borders” isn’t just a catchy name — it’s the reality. Joining Soros (#19 on the Forbes 400) in backing today’s lobbying effort are a broad collection of his fellow billionaires. One of the co-hosts was Partnership for a New American Economy. Among the group’s co-chairmen: Michael Bloomberg (#10 on the Forbes 400), Steve Ballmer (#21), Rupert Murdoch (#30), Douglas M. Baker Jr. (#161), and Bill Marriott (#296).

Another co-host was Fwd.us, founded by Mark Zuckerberg (#20) and including among its supporters Bill Gates (#1), Eric Schmidt (#49), Reid Hoffman (#103), John Doerr (#184), Stanley Druckenmiller (#184), John Fisher (#193), Barry Diller (#260), Sean Parker (#273), Jim Bryer (#352), Mark Pincus (was #212 in 2011, but fallen off since), Matt Cohler (worth a measly $400 million, but on the Forbes Future 400 list), Fred Wilson (#16 on Forbes Midas List of top tech investors), Ron Conway (#41 on the Midas List), and Richard Kramlich (#73 on the Midas List). That’s not to mention a whole list of mere multi-millionaires and even billionaires who didn’t make the cut.”

 

Read the whole thing at The Corner

 

 

  The fact that each of these self-serving a**holes can be given a hearing by the bend-over crowd on the right side of the aisle while they continue to ignore the will of the people is indicative of the total corruption of our present political system 

    Now more than ever we need to institute a ” one and done ” policy concerning our political class . We saw fit to limit the terms of the presidency and that job is actually less damaging to the public good than is Congress . For that reason we need term limits now . It is well past time to eliminate the possibility , nay certainty , that our elected leaders will become beholden to the money men in this country as is now the case .

 Forget Citizens United and all the other pretend fixes that the princes in Washington offer as “solutions” to the corruption of our political class . The simple solution is to eliminate the political class all together . The Founders envisioned a citizen legislature where people from all walks of life briefly interrupted their lives to serve the public good and then retired to the productive work that they had always done . They never imagined that the Republic they gave so much to create would degenerate into a caste system with a ruling elite .

 It may seem like a radical idea to some but we feel that no politician should stand for re-election EVER . Hence our choice of “One And Done” . End the “profession” of politician now . No re-election drastically reduces the ability of outside money men to bend the politicians to their will with promise of filling their re-election coffers .

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Time To End The Corporate Welfare

 

 

” The terrorist attacks of September 11, 2001, inflicted enormous losses on the insurance industry and businesses. In the wake of the disruptions occurring in the insurance market at the time, the government enacted the Terrorism Risk Insurance Act of 2002 to create a “temporary” federal backstop against catastrophic losses. This program subsidized private risk with public funds through a cost-sharing program for which the government does not receive any compensation.

The compelling need for the program was unclear even in the smoldering aftermath of 9/11. Yet in response to effective lobbying by the insurance industry and business interests, Congress has twice extended the program. The program is now scheduled to sunset at the end of 2014, 12 years after this supposedly temporary program was instituted.

If there was some ambiguity about the program’s need before, there is none now. Terrorism risk is not more severe than other insurable risks such as natural catastrophes, and a federal backstop stakes public money to protect the insurance industry, and subsidize the terrorism risk insurance premiums for commercial policyholders. The private market is capable of underwriting this risk. This policy analysis suggests that the program should sunset as scheduled in 2014, thus ending this form of corporate welfare.”

 

 

 

 

 

 

 

… Then Demand Immigration Reform For New Labor

 

 

 

” On Tuesday, the chief human resources officers of more than 100 large corporations sent a letter to House Speaker John Boehner and Minority Leader Nancy Pelosi urging quick passage of a comprehensive immigration reform bill.

The officials represent companies with a vast array of business interests: General Electric, The Walt Disney Company, Marriott International, Hilton Worldwide, Hyatt Hotels Corporation, McDonald’s Corporation, The Wendy’s Company, Coca-Cola, The Cheesecake Factory, Johnson & Johnson, Verizon Communications, Hewlett-Packard, General Mills, and many more. All want to see increases in immigration levels for low-skill as well as high-skill workers, in addition to a path to citizenship for the millions of immigrants currently in the U.S. illegally.

A new immigration law, the corporate officers say, “would be a long overdue step toward aligning our nation’s immigration policies with its workforce needs at all skill levels to ensure U.S. global competitiveness.” The officials cite a publication of their trade group, the HR Policy Association, which calls for immigration reform to “address the reality that there is a global war for talent.” The way for the United States to win that war for talent, they say, is more immigration.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marine Industry Suffers Legal Setback In The Battle Against E15

 

 

” The U.S. Supreme Court denied a petition alleging that the Environmental Protection Agency overstepped its authority by allowing distribution of fuel with 15 percent ethanol, or E15, into the overall supply despite the EPA’s prohibition of E15 use in marine and other engines, Sounding Trade Only reported today.  

Having essentially lost the case in court, the National Marine Manufacturers Association (NMMA) and other groups will revisit a case aimed at protecting consumers from unwittingly filling tanks with E-15 because the fuel has been shown to be harmful to marine engines and other non-automotive powerplants, according to the report.

For practical tips for preventing ethanol-related damage to your boat and marine engines, check out my Better Boating column entitled “Living with Ethanol.” “

 

 

 

 

 

 

K Street Stunned At Farm Bill Defeat

 

 

” The angst among farm lobbyists contrasts to the glee expressed by opponents on the left and the right who opposed the bill.

Citizens Against Government Waste sent out a press release exclaiming “holy manure!”

“In a city known for catering to the whims of well-heeled special interest groups, the farm bill consistently manages to stand out for its parochialism, log-rolling, and corporate welfare,” it said. “That alliance broke down this afternoon, resulting in an extremely rare Farm Bill failure, one that represents a major victory for taxpayers and consumers.”

Heritage Action and Club for Growth, which both urged no votes, said they want food stamp funding severed from farm subsidies, a solution that sends shivers down the spine of farm lobbyists who have seen farm bills pass with the support of urban lawmakers backing the food stamp program.

“Now that the House has defeated the farm bill, we should finally discuss real reform,” said Club for Growth President Chris Chocola. “We need to put farm subsidies on a path to elimination and we need to devolve food stamps to the state level where they belong.”

 

 

     We have to side with the Dems on this one and while we doubt that their motives match ours , a defeat for the agri-businesses is a defeat nevertheless . The voting lines give some truth to the progressive mantra that the GOP is in the pocket of special interests . Bravo to the sixty republican reps that voted against this special interest pork-fest .

 

 

 

 

 

 

 

 

 

 

THE 2013 FARM BILL

 

 

 

 

” The Farm Bill is currently moving through Congress, and it’s bigger and more bloated than ever. This year’s version will spend nearly a trillion dollars on broken food and farm welfare over the next decade. Unfortunately, Congress is poised to rubber-stamp this bloated welfare bill known as the Farm Bill.

Americans For Prosperity strongly encourages Capitol Hill to consider real reforms and meaningful savings to the 2013 Farm Bill.” 

 

 

Related articles :

 

Members of Congress Get Millions in Farm Subsidies

Rural Broadband Program in Farm Bill is Woefully Broken

No Farm Bill? No Problem

Update on the Farm Bill: Good News and Bad News

What savings? 2012 Farm Bill is agribusiness as usual (The Hill)

New farm bill: Welfare in disguise (POLITICO)

End direct payments to find spending savings (Real Clear Policy)

Farm Bill is Welfare Bill (Des Moines Register)

The Farm Bill is Bloated (Billings Gazette)

 

 

 

 

 

 

 

FreedomWorks On Tap “The Truth Behind The Farm Bill”

” This week’s episode of FreedomWorks On Tap “The Truth Behind The Farm Bill” Featured Austin Petersen (FreedomWorks Director of Productions & Editor of TheLibertarianRepublic.com), Josh Sewell (Senior Policy Analyst for Taxpayers for Common Sense), Drew White (Government Relations Deputy for Heritage Action for America), & Josh Withrow (FreedomWorks Legislative Affairs Manager).”

 

Coming 55% Death Tax To Threaten Over Half-Million Family Farms

 

 

 

 

 

 

 

 ” The infamous ‘death tax’ could come at an unbearable cost to millions of Americans that want to keep the family farm.  If your estate exceeds $1 million, your family might have to fork over 55% to the IRS …just because you passed on.  This tax is especially going to hit family farms and ranches, some of which might have been owned for generations.  The Examiner writes:

New legislation that jumps the death tax to 55 percent of estates exceeding $1 million threatens 526,421 family farms, of about 25 percent of all farms in America, according to a Senate analysis. “

 

 Even as the left bemoans the loss of small business/family farms they continue to enact legislation that produces the exact result that they claim to abhor .

The Death Tax is the most obscene of all the government wealth confiscation schemes . All of the assets that comprise a decedent ‘s estate , whether it be cash savings , stocks/bonds , real estate , jewelry or anything else has already been taxed at least once and likely more than that . For the government to reach into the coffin and take half of the deceased ‘s hard earned belongings is the ultimate indecency .

 

 

Illustration By Michael Ramirez

 

 

 

A Small Business Party

 

 

 We’ve been told the Republican Party must recalibrate all its positions following an election in which very little changed. We’ve been lectured on abortion after exit polls showed voters were motivated by the economy. We’ve watched various big-government “conservatives” crawl out from under rocks murmuring the usual incantations against the Tea Party. And we’ve endured a video of Meghan McCain saying she “hates” Karl Rove being praised as some sort of avant garde one-woman stage show.

 

As a friend of mine exclaimed a few days ago, “We lost one election!” It was a stinging loss at a crucial time, to be sure. But it hardly portends the extinction of conservatism.

That being said, there’s one voice in the cacophony that’s worth a listen. Rep. Raul Labrador (R-Idaho) said this on Meet the Press this past Sunday:

[W]e believe in small government, but we also believe in the individual. There are too many Republicans here in Washington, DC, and they are actually defending big business. They are defending the rich. I didn’t become a Republican to defend the rich. And– and what we need to understand is that big business loves big government, because they get all the goodies from big government. They get more– they get less competition. The more that government grows, the more that big business actually benefits from the tax code and from the regulations.

 

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