Showing posts with label corporate welfare. Show all posts
Showing posts with label corporate welfare. Show all posts

Thursday, November 14, 2019

Inequality is higher in some states like New York and Louisiana because of corporate welfare

  Income inequality made big headlines recently after the U.S. Census Bureau released new data showing that the gap between the richest and poorest Americans is at its highest level in at least half a century.

  Less reported was the significant variation among the states. New York and California had the highest inequality in 2018, while Utah and Alaska had the lowest. In addition, states as diverse as Alabama, Texas, and New Hampshire experienced large increases from the prior year.

  Why are some states more or less equal than others?

Tuesday, January 10, 2017

Laurence M. Vance: Time to smack down the Small Business Administration

  In 2012, Barack Obama elevated the administrator of the Small Business Administration (SBA) to a Cabinet-level position, where the office had been under Bill Clinton. The current administrator, Maria Contreras-Sweet, is unknown to the overwhelming majority of Americans, as are the thirty-three administrators who preceded her. This ignorance is about to change, for, according to a statement issued last month by Donald Trump,

    My “America First” agenda is going to bring back our jobs and roll back the burdensome regulations that are hurting our middle-class workers and small businesses. To help push our agenda forward, I am pleased to nominate Linda McMahon as the head of the Small Business Administration.

Friday, June 5, 2015

Stephen Moore: Using tax dollars to lobby for more tax dollars

  Here's a half-serious question: How much do taxpayers have to pay off Boeing to make the Export-Import Bank finally and irrevocably go away? If the feds wrote a check to Boeing for $100 million, would they then let the Ex-Im Bank fade away after the current portfolio winds down?

  I ask this because the aerospace giant is the largest beneficiary of the Ex-Im Bank. The bank provides subsidized loans and insurance contracts to foreign companies that buy American exports. Ex-Im Bank doles out billions of dollars of loans and insurance subsidies every year and has become the poster child for corporate cronyism in Washington.

Saturday, April 5, 2014

The Ryan budget is a broken record of failed trickle-down economics

  For the past three years, House Budget Committee Chairman Paul Ryan (R-WI) has been trotting out the same conservative, top-down policies that have failed the nation’s middle- and working-class families, seniors, and the economy. The House Republican budget is built around the tenet that nearly everyone else must sacrifice in order to continue to give billions of dollars in tax breaks to millionaires, big corporations, and Big Oil. At every turn, the House Republican budget reveals its vision of an economy and government that only works for the wealthiest individuals and special corporate interests at the cost of everyone else.

Monday, February 10, 2014

With only $93 billion in profits, the big five oil companies demand to keep tax breaks

  The 2013 profit totals are in for the big five oil companies—BP, Chevron, ConocoPhillips, Exxon Mobil, and Shell. Their financial reports indicate that they earned a combined total of $93 billion last year, or $177,000 per minute. After years of oil production declines, the big five oil companies actually increased their total production in 2013, predominately due to BP and ConocoPhillips almost doubling their total production. The companies’ higher oil production yet lower profits indicate that it is becoming more expensive to produce oil as the number of newer, easier, and cheaper fields shrink. This is why, despite their outsized earnings, the oil companies are not only fighting to keep their tax breaks but also lobbying to lift the crude oil export ban. But doing so could hurt working families, our economy, and our energy security. Instead, we need to invest in cleaner transportation alternatives.

Monday, August 19, 2013

Robert Wilkerson: Taking food from the poor

  There they go again, picking on the poor and defenseless. A recent Farm Bill pushed by Republicans would give billions of dollars in subsidies to large corporate landowners, while cutting the food stamp (SNAP) program so deeply that five million people would be kicked off. Most of those who would lose benefits (83 percent) are already living below the poverty line. In Alabama, about 910,000 people would lose their benefits on November 1, 2013.

Thursday, August 1, 2013

Cameron Smith: The crisis of government cronyism

  For the last several election cycles, Democrats have successfully branded Republicans as the protectors of corporate greed, companies that are too big to fail and the much maligned “one percent.”

  This branding strategy succeeds because it resonates on some level with most Americans. The policy and political arguments of an executive whose annual compensation is more than many of us will make in our entire lives fails to draw sympathy regardless of political leanings.

Thursday, June 6, 2013

Daren Bakst: The Costly and outdated farm bill

  Congress is once again taking up the farm bill - and continuing to treat agriculture like it was 1933, not 2013. The result: billions of taxpayer dollars going to waste.

  This is unacceptable. It's time for lawmakers to make reforms that reflect the reality of modern-day agriculture.

Tuesday, May 21, 2013

Joseph O. Patton: Governor Bentley: Fence jockey

Knoxville, Tenn. – October 18, 1986

  It was my first foray into the frenzy of college football. Neyland Stadium is fairly overwhelming, especially for a child. Wrapped up in the excitement of the game day atmosphere only SEC rivalry games can provide, I was nonetheless stuck between a crimson rock and a big orange hard place. Third Saturday of October - if you don’t know what it really means, you clearly ain’t from around here.

Monday, April 22, 2013

Jesse C. Moore: Should the United States subsidize fossil fuel companies?

  The world needs a reliable supply of energy. To ensure that, many countries have granted subsidies and tax breaks to fossil fuel companies to help develop energy resources. However, with the concern over our carbon emissions and over the economic crises that many countries are facing, the wisdom of continuing those subsidies needs to be examined. The fossil fuel companies are now quite profitable. The five most profitable companies in the United States are Ford ($20 billion), Microsoft ($23.2 billion), Apple ($25.9 billion), Chevron ($26.9 billion), and Exxon Mobil ($41.1 billion). The two most profitable companies are oil companies with Exxon Mobil greatly exceeding the profitability of the other four.

Friday, March 1, 2013

Our Stand: Conned by the Alabama Legislature

  After the antics that unfolded Thursday in the Alabama Legislature, no citizen of this state should trust their lawmakers again… and we certainly shouldn’t trust our representatives with our tax dollars.

  For months Republicans in the “super majority” assured us that a bill they were pushing, specifically called “school flexibility,” was not to open a back door to private school vouchers or charter schools. They insisted that we trust them, though their Democratic counterparts voiced honest concerns… then they effectively pulled a cheap, dishonest hoax on every citizen in our state.