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Thursday, April 14, 2016

The Real Welfare Cheats

Nicholas Kristof:

The Real Welfare Cheats: We often hear how damaging welfare dependency is, stifling initiative and corroding the human soul. So I worry about the way we coddle executives in their suites.
A study to be released Thursday says that for each dollar America’s 50 biggest companies paid in federal taxes between 2008 and 2014, they received $27 back in federal loans, loan guarantees and bailouts.
Goodness! What will that do to their character? Won’t that sap their initiative? ...
The study ... compiled by Oxfam ... says that each $1 the biggest companies spent on lobbying was associated with $130 in tax breaks and more than $4,000 in federal loans, loan guarantees and bailouts. ...
One academic study found that tax dodging by major corporations costs the U.S. Treasury up to $111 billion a year. ... Among the 500 corporations in the S.&P. 500-stock index, 27 were both profitable in 2015 and paid no net income tax globally...
Those poor companies! Think how the character of those C.E.O.s must be corroding! And imagine the plunging morale as board members realize that they are “takers” not “makers.” ...
When congressional Republicans like Ted Cruz denounce the I.R.S., they empower corporate tax cheats. ...
Meanwhile, no need to fret so much about welfare abuse in the inner city. The big problem of welfare dependency in America now involves entitled corporations. So let’s help those moochers in business suits pick themselves up and stop sponging off the government.

    Posted by on Thursday, April 14, 2016 at 06:59 AM in Economics | Permalink  Comments (37)


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