True, the decision to lower wages to the point that it’s necessary for the federal government to subsidize a minimum wage worker’s living is hardly the definition of fiscal responsibility. That assumes, of course, that the Republican Party actually values fiscal conservatism through and through.
The Article: The shocking numbers behind corporate welfare by David Cay Johnson in Al-Jazeera.
The Text: State and local governments have awarded at least $110 billion in taxpayer subsidies to business, with 3 of every 4 dollars going to fewer than 1,000 big corporations, the most thorough analysis to date of corporate welfare revealed today.
Boeing ranks first, with 137 subsidies totaling $13.2 billion, followed by Alcoa at $5.6 billion, Intel at $3.9 billion, General Motors at $3.5 billion and Ford Motor at $2.5 billion, the new report by the nonprofit research organization Good Jobs First shows.
Dow Chemical had the most subsidies, 410 totaling $1.4 billion, followed by Warren Buffett’s Berkshire-Hathaway holding company, with 310 valued at $1.1 billion.
Some say it would be doomsday. Rational individuals from all over would flock to the United States and disrupt native livelihoods and ecosystems. Others speculate that it would cease the incidence of conflicts abroad, and that to fail to open borders is morally wrong. Where do you come down?