Tag Archives: corporate welfare

The great hypocrisy of libertarians and conservatives

Craig Cantoni

Source: Libertarian Institute
by Craig Cantoni

"It's nearly impossible in the modern social-welfare state for a believer in limited government (aka limited coercion and theft) not to be a hypocrite. Take Social Security and Medicare. After being forced to pay into the programs over a working life, most people can't afford to walk away from program benefits upon retirement, even if they disagree with the entitlement programs on principle. Besides, walking away would not result in the demise of the programs. Or take taxes. Even if taxes are used for immoral or nefarious purposes, sticking to principles by not paying taxes would only result in imprisonment. But there is one arena of big government where it is easy to stick to principles and not be a hypocrite: the arena of government-subsidized sports arenas. … Yet most libertarians and conservatives patronize pro sports, by either attending games or watching on TV." (02/16/17)

https://www.libertarianinstitute.org/2017/02/great-hypocrisy-libertarians-conservatives/

Cut corporate taxes and corporate welfare

Source: Cato Institute
by Chris Edwards, Romina Boccia & Tom Schatz

"President Donald Trump is prioritizing major tax reforms, including a large corporate tax rate cut. The cut has broad support and promises to spur growth, but it will face political opposition if it widens the already rising budget deficit. As such, President Trump would do well to pair his corporate tax cut with a cut in 'corporate welfare' spending." (02/03/17)

https://www.cato.org/publications/commentary/cut-corporate-taxes-corporate-welfare

Congress takes steps to renew Farm Bill boondoggle

Source: Reason
by Baylen Linnekin

"Perhaps wary of the fact that it took years to pass the most recent Farm Bill in 2014, Congress has already moved to begin deliberations over the next five-year bill, which would likely become law in 2018. The U.S. Senate Agriculture Committee will hold its first hearing on the upcoming Farm Bill in Kansas later this month. The Farm Bill is perhaps best known for handing billions of dollars of taxpayer money to a small number of the shrinking percentage of Americans who farm. Pres. Franklin Roosevelt's agriculture [secretary] Henry Wallace pitched payments to farmers during the Great Depression as 'a temporary solution to deal with an emergency.' The emergency — the Depression — ended around the same year that my grandparents went to prom. But the subsidies remain. In fact, they've only mushroomed in the decades since their adoption." (02/04/17)

http://reason.com/archives/2017/02/04/congress-takes-steps-to-renew-farm-bill

FCC reverses addition of nine companies to Internet access welfare program

Source: Washington Post

"Regulators are telling nine companies they won't be allowed to participate in a federal program meant to help them provide affordable Internet access to low-income consumers — weeks after those companies had been given the green light. The move, announced Friday by FCC Chairman Ajit Pai, reverses a decision by his Democratic predecessor, Tom Wheeler …. The program, known as Lifeline, provides registered households with a $9.25-a-month credit, which can then be used to buy home Internet service. As many as 13 million Americans may be eligible for Lifeline that do not have broadband service at home, the FCC has found. Roughly 900 service providers participate in the Lifeline program." [editor's note: Is the purpose of this program REALLY to "provide Internet access to the poor," or is it just to find a way to give — as of 2014 — $1.6 billion per year to politicians' corporate cronies? And does the purpose matter? – TLK] (02/03/17)

https://www.washingtonpost.com/news/the-switch/wp/2017/02/03/the-fcc-is-stopping-9-companies-from-providing-subsidized-broadband-to-the-poor/

A developer's market

Source: Show-Me Institute
by Graham Renz

"The Delmar Loop is one of the most vibrant areas in the Saint Louis region. It's even been listed as 'one of 10 Great Streets in America.' On any given day or evening, sidewalks and storefronts bustle with activity in the popular University City neighborhood. Yet policymakers seem convinced that development won't happen in the Loop without taxpayer subsidies. As the St. Louis Post-Dispatch reports, a $26 million multi-use development planned for a busy intersection in the Loop was recently awarded some $4.4 million in tax increment financing (TIF). This means the developers will pay $4.4 million less in taxes over the next few decades because, apparently, the project isn't financially feasible without tax breaks." [editor's note: I love the Loop. Unfortunately the politicians have been trying to destroy it with this kind of crap for as long as I can remember – TLK] (01/25/17)

http://showmeinstitute.org/blog/subsidies/developers-market

Trump signs executive orders to advance Keystone, Dakota Access corporate welfare boondoggles

Source: Politico

"President Donald Trump signed executive actions on Tuesday to advance the Keystone XL and Dakota Access oil pipelines, reversing decisions made by the Obama administration and setting off a clash with Democrats and environmental activists [and opponents of eminent domain thievery and crony capitalism] who vehemently oppose the projects. Trump said that approving the cross-border oil line would be 'subject to a renegotiation of terms by us,' comments that suggest that he plans to revive his campaign-trail bid to claim 'a piece of the profits' from the pipeline for U.S. taxpayers — a legally and politically risky proposal." (01/24/17)

http://www.politico.com/story/2017/01/trump-expected-to-sign-executive-actions-to-advance-keystone-dakota-access-pipelines-234095

Developer welfare: Trump's infrastructure plan

Source: CounterPunch
by Sharmini Peries

Interview with economics professor Michael Hudson. Hudson: "The whole idea of the Republican Party in the 19th century was for the government to finance infrastructure, and especially transportation, to lower the cost of living and doing business. But I don’t think that's what Trump is going to do, because he wants to cut back government spending and he wants to cut back taxation. So what I worry about is when he says, 'I'm going to build infrastructure' is that it means that he's going to create a huge trillion-dollar market for Wall Street's high finance. They're going to fund infrastructure by bondholders, and through private-public partnership, rail lines and transportation lines. Who are going to be the beneficiaries of this, and who's going to pay for it all?" (01/24/17)

http://www.counterpunch.org/2017/01/24/developer-welfare-trumps-infrastructure-plan/

MO: St. Louis corporate welfare scam revived, city taxpayers would pay $60 million

Source: St. Louis Post-Dispatch

"A week after St. Louis aldermen said a public funding proposal for a Major League Soccer stadium would not move forward, the bill is set for a committee hearing Thursday. Bill sponsor Alderman Christine Ingrassia said the proposal would now allocate about $60 million in new tax revenue to the $200 million project. The previous proposal called for an $80 million city contribution." (01/19/17)

http://www.stltoday.com/news/local/metro/st-louis-soccer-stadium-funding-bill-revived-city-would-pay/article_7aed7fe9-e251-5e18-8f57-5b059b5c6ec7.html

Corporate America inching even closer to a Constitutional Convention

Source: In These Times
by Simon Davis-Cohen

"During a Colorado Springs rally on Oct. 18, 2016, then-candidate Donald Trump announced, 'The time for congressional term limits has finally arrived.' For many, it was one of Trump’s more moderate proclamations. Term limits don’t sound like such a bad idea. But it’s possible this comment signaled support for a broader, more partisan agenda. Term limits are a central demand for a growing movement of states-rights activists focused on weakening the federal government — and they are dangerously close to convening the first state constitutional convention in U.S. history." [editor's not: This guy's nightmare, maybe our dream? – SAT] [editor's note: Certainly not my dream. I predict that any changes a convention comes up with will be in favor of more government and less freedom – TLK] (01/16/17)

http://inthesetimes.com/article/19811/constitutional-convention-of-states-alec-balanced-budget-corporate-america

Prospects bleak for MLS proposal — and that's a good thing

Source: Show-Me Institute
by Michael Highsmith

"Public funding for a Major League Soccer (MLS) stadium has been a hot topic in Saint Louis over the past few months, and Show-Me Institute writers have made their position clear: side with the research. Overwhelmingly, research shows that cities do not see positive returns on stadium financing investments. A potential $120 million in subsidies from Saint Louis and the State of Missouri for a sports stadium is not a wise investment. Saint Louis appears to have gotten the memo." (01/11/17)

http://showmeinstitute.org/blog/subsidies/prospects-bleak-mls-proposal%E2%80%94and-%E2%80%99s-good-thing