Aljazeera America:Meanwhile, families in poverty are having trouble getting by -- because
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.
The figures were compiled from disclosures made by state and local
government agencies that subsidize companies in all sorts of ways,
including cash giveaways, building and land transfers, tax abatements
and steep discounts on electric and water bills.
government supposedly can't afford to pay for things like food stamps or
the Temporary Assistance for Needy Families (TANF) program. Welfare reform was supposed to lift people out of poverty, but it's done the opposite. And it was all predictable...[CLICK TO READ FULL POST]