The Senate budget rewards big time friends with gifts from the taxpayer. As Tim Carney at The Examiner explains, it is in many respects a vehicle for legal graft, and many companies are on board.
Make the tax code simpler to reduce gaming of the tax system.
The gall of the lobbyists is astounding. Here we are, teetering we are told on the edge of a “fiscal cliff.” Below us is the abyss of renewed acute recession (depression). We must do something! Anything! Just don’t let us go off the cliff!
We give The New York Times a hard time (rightfully) on occasion, but the database their staff put together on state grants to corporations is fantastic, and easy to use.
Critics of crony capitalism are found on both the left and right. This creates a very interesting alliance. For example, left and right work together to audit the Fed. We can also audit each other’s ideas for factual accuracy.
In this column by A. Barton Hinkle he explains that corporate welfare is doubly offensive. It has all the bad parts of any welfare program, but none of the good parts, that is the alleviation of at least some suffering. Corporate welfare is a transference of wealth from taxpayers mostly to those who are already well off.
He also rightly calls out some conservatives for their tolerance of this form wealth redistribution.
“So I would say we have to ask some questions. Should we be dispensing loans based on political favoritism? Should it matter if you’re a big contributor to the President? Should that matter getting a loan?
Now I think that ought to be illegal, if it’s not immoral, it ought to be—it is immoral, it ought to be illegal.” – Rand Paul