Difference between revisions of "2014/03/15/Extreme Capitalism Depends on Government Subsidies, Corporate Welfare and Worker Insecurity"

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* '''link''': [[URL::http://rationalopinionsblog.com/2014/03/15/extreme-capitalism-depends-on-government-subsidies-corporate-welfare-and-worker-insecurity/]]
 
* '''link''': [[URL::http://rationalopinionsblog.com/2014/03/15/extreme-capitalism-depends-on-government-subsidies-corporate-welfare-and-worker-insecurity/]]
 
* '''title''': [[title::Extreme Capitalism Depends on Government Subsidies, Corporate Welfare and Worker Insecurity]]
 
* '''title''': [[title::Extreme Capitalism Depends on Government Subsidies, Corporate Welfare and Worker Insecurity]]
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* '''summary''': <call func=smw.let.echo key=Summary>"Capitalism has gone extreme due to pure, unadulterated GREED. Those that ([[the 1%]]) want more for themselves and less for the -(the 99%). All in the name of money and power."</call>
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* '''summary''': [[Summary::"Capitalism has gone extreme due to pure, unadulterated GREED. Those that "have" ([[the 1%]]) want more for themselves and less for the "have-nots" (the 99%). All in the name of money and power."]]
 
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<blockquote>
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<p>In a report titled the Corporate One Percent,from the taxpayer watchdog group [[Good Jobs First]], it shows that the largest companies models of self-sufficiency and unbridled capitalism. To the contrary, propped up by billions of dollars in welfare payments from state and local governments. These subsidies might be a bit more defensible if they were being handed out in a way that promoted upstart entrepreneurialism. But as the study also shows, a full -quarters of all the economic development dollars awarded and disclosed by state and local governments have gone to just 965 large not to the small businesses and start-ups that politicians so often pretend to care about.</p>
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<p>In a report titled "Subsidizing the Corporate One Percent," from the taxpayer watchdog group [[Good Jobs First]], it shows that the world's largest companies aren't models of self-sufficiency and unbridled capitalism. To the contrary, they're propped up by billions of dollars in welfare payments from state and local governments. These subsidies might be a bit more defensible if they were being handed out in a way that promoted upstart entrepreneurialism. But as the study also shows, a full "three-quarters of all the economic development dollars awarded and disclosed by state and local governments have gone to just 965 large corporations" &ndash; not to the small businesses and start-ups that politicians so often pretend to care about.</p>
  
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<p>In dollar figures, a whopping $110 billion going to big companies. Fortune 500 firms alone receive more than 16,000 subsidies at a total cost of $63 billion. Some notable recipients include [[Intel]] with $3.8 billion; [[IBM]] with $1 billion; [[Google]] with $632 million; and [[Yahoo]] with $260 million in subsidies. Large financial firms like [[Goldman Sachs]], [[Bank of America]] and [[Citigroup]] receive tens of millions of dollars in subsidies, even though they received never-ending bailouts from taxpayers due to their illicit business practices. Yet we find a $1 billion to support our poor and needy!</p>
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<p>In dollar figures, that's a whopping $110 billion going to big companies. Fortune 500 firms alone receive more than 16,000 subsidies at a total cost of $63 billion. Some notable recipients include [[Intel]] with $3.8 billion; [[IBM]] with $1 billion; [[Google]] with $632 million; and [[Yahoo]] with $260 million in subsidies. Large financial firms like [[Goldman Sachs]], [[Bank of America]] and [[Citigroup]] receive tens of millions of dollars in subsidies, even though they received never-ending bailouts from taxpayers due to their illicit business practices. Yet we can't find a $1 billion to support our poor and needy!</p>
 
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Latest revision as of 17:50, 27 December 2019

In a report titled "Subsidizing the Corporate One Percent," from the taxpayer watchdog group Good Jobs First, it shows that the world's largest companies aren't models of self-sufficiency and unbridled capitalism. To the contrary, they're propped up by billions of dollars in welfare payments from state and local governments. These subsidies might be a bit more defensible if they were being handed out in a way that promoted upstart entrepreneurialism. But as the study also shows, a full "three-quarters of all the economic development dollars awarded and disclosed by state and local governments have gone to just 965 large corporations" – not to the small businesses and start-ups that politicians so often pretend to care about.

In dollar figures, that's a whopping $110 billion going to big companies. Fortune 500 firms alone receive more than 16,000 subsidies at a total cost of $63 billion. Some notable recipients include Intel with $3.8 billion; IBM with $1 billion; Google with $632 million; and Yahoo with $260 million in subsidies. Large financial firms like Goldman Sachs, Bank of America and Citigroup receive tens of millions of dollars in subsidies, even though they received never-ending bailouts from taxpayers due to their illicit business practices. Yet we can't find a $1 billion to support our poor and needy!




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