Sen. Chuck Schumer (D-Wall Street) announced today that Democrats will seek to reauthorize the corporate welfare Export-Import Bank father the July 4th holiday.
State-level politicians like to stand in front of large corporations and declare how welcoming their state is for business, and tout jobs gains for their state. What you don't see, behind the scenes, is that politicians are often luring businesses with sweetheart deals that hurt the economy on the whole and often subsidize failing businesses.
In a recent op-ed for the Indianapolis Star I discussed the symbiotic relationship between federal and state government when it comes to doling out corporate welfare subsidies.
Although I think both parties deserve equal blame (food stamps are an example), I give Rubio credit for not going along with the standard Republican delusion that Obama lit the torch of government dependency.
It has been federal for three years. It has brought chaos to the labor markets. It has cost people their livelihoods and it is more unpopular than ever.
“Jim Jett always used to say that his brother was the damndest scoundrel that was ever borne,” drawled Abraham Lincoln, “but by the infinite mercy of providence he was also the damndest fool.”
How do companies make millions of dollars with a really bad idea? They advise state governments on how to comply with federal Obamacare mandates, and then help the states build new websites.
A colleague mentioned earlier this week how thankful he is that he can tell anyone who deserves it to go take a flying leap. (Actually, his precise words are unprintable, but you get the idea.) At first glance, such uninhibited opinion-sharing might seem rude and unacceptable, but upon further reflection, it becomes clear how individuals rising up and courageously telling off the creeps who deserve it would benefit society as a whole, and how capitalism in particular is the perfect vehicle for this.
I was irked by Obama’s illiteracy on the matter of business deductions for corporate jets, oil companies, and firms that “ship jobs overseas.”
When Mitt Romney blurted out his now notorious 47-percent lament, liberal gaffe-o-meters went ballistic, acting as though he were an American Ebenezer Scrooge who had just shoved Tiny Tim Cratchit into a ditch and then burned down a crutch factory. As several observers have noted, this amorphous statistic includes myriads of worthy beneficiaries indeed, such as veterans, social security recipients, the physically or mentally disabled, the deserving poor, and those utterly unable to take care of themselves in a society where the federal government has assumed tasks that once were the preserve of families, churches, voluntary organizations, and state or local governments. And the president’s advocates have leapt on this figure, which has since exploded in campaign ads that feature a heartless Romney dismissing nearly half of the American population as too anesthetized by government dependency to take seriously in this election.
“Government ’help’ to business is just as disastrous as government persecution... the only way a government can be of service to national prosperity is by keeping its hands off.” That is what Ayn Rand has to say about government involvement in the world of business, but the full extent of this practice is difficult to nail down. Tad DeHaven of the CATO Institute investigated the situation to determine exactly how deep the problem runs.
Last week, Franklin Delano Roosevelt and Lyndon Baines Johnson – America’s 32nd and 36th presidents, respectively – once again ruled the day in Washington. On back-to-back days, House Republicans joined with their Democrat colleagues to extend, expand and fund New Deal and Great Society programs.
When they hear the words “U.S. Export-Import Bank,” many Americans might be led to believe this federal lending agency is all about giving struggling U.S. companies a better shot at competing on the world business stage.
America, with its constitutionally protected freedoms and entrepreneurial spirit, has generated prosperity at a level which is unique to the human experience.
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