Get Out of My Pocket
In my last article, They Win, We Lose, I wrote about my disapproval of our government using tax money to support private businesses, like NextEra Energy. In this article, I would like to expound on the notion of corporate welfare, or in other words, federal subsidies. Please consider the following:
· The auto industry. In the 1980s, the Chrysler Corporation was on the brink of bankruptcy. The federal government gave Chrysler billions of our tax dollars, which revived the company. In 2008, U.S. automakers, including Chrysler, went back to Washington DC to ask for another bailout. For their groveling, they received nearly $100 billion in subsidies. The plunder continues today with Tesla, the maker of solar powered cars, as it receives over $2 billion in subsidies.
· Technology. Google has received nearly $1 billion from tax payers. Apple has received nearly $700 million. Facebook has received over $500 million.
· Retailers. Amazon received over $600 million in subsidies. Walmart received over $7 billion.
· Energy. For decades, the oil and gas industry has received over $200 billion in subsidies. Wind and solar companies (green energy) have received over $170 billion.
· Agriculture. In 2017, farm subsidies topped $13 billion. See the incredible article at www.forbes.com. Sugar and other food subsidies cost taxpayers over $4 billion.
· Professional sports. Baseball, football, basketball, hockey, and soccer have received combined subsidies totaling over $12 billion.
This is only the tip of the iceberg. Check out the subsidy tracker at www.goodjobsfirst.org to see where our tax money is going! I believe our government should not be subsidizing any private business. In my opinion, no business is too big to fail. Any business that is not efficient and competitive should be allowed to fold. Although some people think it’s cruel to allow a company to go under, I do not. Our free market system is designed to reward success and punish failure. Competition ensures the best product at the best price is available to the consumer. If our government insists on helping private businesses, then I think it should reduce taxes and then get out of the way!
Please do your own homework and see for yourself how irresponsible our government has behaved. Learn how politicians, big business, and lobbyists are all in bed together for profit. May God bless you and the United States of America!