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Tag Archives: Corporate Welfare

“On average, each Fortune 100 company received about $200 million in (taxpayer funded subsidies.)”

Think about that. On average each of the largest 100 companies in the world receives $200 million from the US taxpayer, each year. Some more than others of course.

This is not capitalism. This is crony capitalism and it is dangerous to our economy and our society. If small government people are going to talk about how free markets are preferable to the incestuous system we have now they need to go after corporate welfare.

Each member of the House and Senate should be held accountable on a day-to-day basis. Who voted for what? And not only on whether a lawmaker voted to make a bill law, but also if a member voted to move something into (or out of) committee. What were the committee votes? What maneuvering happened?

If we want a less crony capitalist government it’s going to take some monitoring (and perhaps at least equally as important, reporting). We have the technology.

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The farm bill doesn’t save any money, actually costs taxpayers more – Surprise!

People lose their senses when entering the land of the farm bill. Conservatives vote for subsidies and feel perfectly fine about it while voting to cut food stamps. (Which should be reduced but so should the farmer subsidies.) When one explains to a farmer that they are essentially on welfare and costing the taxpayer billions of dollars one invariably hears back that farmers feed the the country and that somehow they deserve all the welfare that they get because they feed us.

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FDR was a corporatist, So was LBJ, Same for Nixon, big business likes big government

FDR partnered with big business while burdening the general economy. (Sound familiar?) LBJ did the same in better times. As the attached article points out LBJ even partnered with corporate America to take down Barry Goldwater. Nixon laid layer after layer of regulation on top of the American people, while remaining a good friend to big business. Much of the giant government apparatus we have today was built in concert with, not to counter, big business.

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Ethanol Subsidies pushed by both Bush and Obama have created an “ecological disaster.” Increased food prices.

How many times do we need to learn this lesson? Central planning, big sweeping, one size fits all policies do not work. They are filled with waste, crony capitalism, and all sorts of unintended consequences which often are worse than the issue the original policy was created to ameliorate.

This is absolutely the case with corn ethanol subsidies.

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Billionaire farmers raking in farm subsidies

Our farm system is totally rigged for generally very wealthy (made wealthier with our tax dollars) agribusiness participants. But the Republicans won’t attack this kind of welfare because it benefits constituencies in rural and generally Republican districts – at least the constituencies which tend to write checks to their congressperson.

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In budget fight, GOP should target corporate welfare

Another good one from Tim Carney. He is absolutely on point with this piece. The GOP should get real about small government or it may find itself completely irrelevant in the relatively near future. Voters are done financing this sort of thing, at least formerly GOP voters are.

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“Small government conservative” lawmakers who directly benefit from farm subsidies

 “Stephen brings his personal experience as a successful businessman running a large agriculture operation to Washington D.C. and understands, firsthand, that jobs are not created by Washington bureaucrats, but rather by hard-working folks in Tennessee.  He is committed to taking every possible step to empower people to invest and create jobs, cut government spending and make Washington more accountable to taxpayers.

- This is from the website of Representative Stephen Fincher of Tennessee who according to the attached article received the most agriculture subsidies of any member of Congress in 2012, $70,574.

If he really wanted to reduce the burden to taxpayers he could give that $70K back I suppose.

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Farm Bill cuts SNAP for poor, expands subsidies to wealthy agribusiness

The Farm Bill is full of nasty stuff. The subsidization of crop insurance premiums for instance by the taxpayer encourages farmers to over insure, then when there is a loss the taxpayer pays again on a larger loss than there should be. Then the farmer over insures again.

Last year was one of the most profitable in the history of US farming, yet there was a drought and many crops were lost. The reason so much money was “made” was largely because of taxpayer funded crop insurance schemes.

Such programs are just one of the abuses of the taxpayer within the farm bill. There are dozens, and probably hundreds of others. The whole bill over 10 years constitutes almost a trillion in spending—taxpayer funded spending

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