How has corporate welfare changed since 1999?

[Deja Q]

http://www.cato.org/testimony/ct-sm063099.html

Corporate welfare is a large and growing component of the federal budget. America's most costly welfare recipients today are Fortune 500 companies. In 1997 the Fortune 500 corporations recorded best-ever earnings of $325 billion, yet incredibly Uncle Sam doled out nearly $75 billion in taxpayer subsidies. These welfare payments come in every conceivable shape and size, including government grants, contracts, cut rate insurance, loans, and loan guarantees. There are roughly 125 such business subsidy programs in the federal budget and they can be found in virtually every cabinet agency of the government--including the Defense Department.

In 1999, $75 BILLION could raise 2884 people, from womb to the tomb, in utter LUXURY.

In 1999, $75 BILLION would give 1,875,000 Americans a very liveable wage (at $40k/yr). This would cover not only health care, but a place to live, food, car (though an organized mass-transit program would be better), and leave a lot left over for fun things, or to pay off the car loan more quickly.


If all corporate welfare were eliminated, the savings would be large enough to entirely eliminate the capital gains tax or the death tax.

Hmmm. Bushbastard* has been trying to do away with those taxes. Has he done away with corporate WELFARE to at least compensate? :shrug:

I dunno. The little fucker* has put the economy into such a skewed state that it's beyond saving. (corporate america would love this because :tinfoilhat: thinks they would take over the government. Gee, when citizens try to make a takeover, that's treason and we are put to death. Why does corporate america get continual lucky breaks?)