Democrats go all-in on corporate welfare
As congressional Democrats weave their plans for a cradle to grave state, the Cato Institute’s Chris Edwards gives us several reasons why we should just say “no” to all that spending.
On the list are the usual suspects – waste, red tape, and rampaging debt. But also, hiding in the open, is a big push to expand corporate welfare:
Democratic leaders, such as Senators Elizabeth Warren and Bernie Sanders, often rail against corporate subsidies. Yet both bills include hundreds of billions in corporate subsidies for broadband, utilities, electric vehicles, manufacturing, research, renewable energy, and other items. If passed, the subsidies would be a boost to the corporate lobbyists in Washington, encouraging them to ask for even more, more, more …
Yes, Democrats also want to raise the corporate income tax, and institute a global, minimum corporate tax to make sure they all pay something. But it looks like Democrats would be giving all that money back – and then some – through subsides and handouts. It’s a bizarre way to fund a government, never mind run a corporation.
And if you happen to have a small company paying higher taxes, but aren’t big enough to have a lobbyist get you a slice of the federal gravy train? Sorry, you’re the sucker paying for this deal.