The Biden administration, and a number of populist Republicans, make a great show about how large, faceless corporations don’t pay their “fair share” of taxes.
It would be a less economically illiterate argument to make if it were not for those same politicians who give many of those same companies tax breaks, subsidies, and trade protections.
As the Cato Institute’s Chris Edwards writes, such double-dealing makes for a lot of hypocrites in official Washington:
[Biden] signed into law three massive bills handing out hundreds of billions of dollars of narrow tax breaks and spending subsidies to big corporations. It is the biggest gusher of corporate welfare ever.
Biden elaborated in his [State of the Union] speech, “I also want to end tax breaks for Big Pharma, Big Oil….” But he has given huge tax breaks and spending subsidies to Big Semiconductor, Big Wind, Big Solar, Big Battery, Big Automaker, Big Utility, and so on.
Rather than trickle‐down economics, this is a Niagara Falls of subsidies flooding from Washington to the president’s favored industries and corporations.
To be fair, what Biden signed had bipartisan support – and as the League of Conservation Voters notes, Republican populists are widely touting the benefits of “Biden’s” green corporate welfare schemes in their re-election campaigns. Even though they voted against the bill.
One could easily call this cynical. But sadly, it’s Standard Operating Procedure in D.C.
Corporate welfare programs like the CHIPs Act, which will shower billions of dollars on semiconductor companies to make chips in the U.S., had plenty of bipartisan support. The same was true for the Infrastructure Act passed in the Biden administration’s early days.
Corporate welfare has always been a bipartisan affair. The majorities change depending on which party controls the legislative agenda (and the White House). But the end is fairly predictable: more money will go out the door to support favored industries or individual companies, and everyone else will pay for it.
Remember that the next time a member of Team Blue or Team Red talks about how someone isn’t paying their fair share. It’s the politicians who’ve created the rules, and the incentives for corporations. Every time they point a finger of blame, three fingers point right back at them.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
WASHINGTON — A neighbor of Sen. Mitch McConnell says the Kentucky Republican’s Capitol Hill
At American Liberty News, we eschew the mainstream media’s tightly controlled narrative to provide our readers with real news, real insights, and the means to take action. We seek out insightful coverage – and partner with knowledgeable and experienced people and organizations to bring you the information and insight our readers demand.
We humbly seek to provide the tools and information necessary for our readers to decide for themselves what is true and what is right.
Think Tank Scholar Exposes Washington Hypocrites
The Biden administration, and a number of populist Republicans, make a great show about how large, faceless corporations don’t pay their “fair share” of taxes.
It would be a less economically illiterate argument to make if it were not for those same politicians who give many of those same companies tax breaks, subsidies, and trade protections.
As the Cato Institute’s Chris Edwards writes, such double-dealing makes for a lot of hypocrites in official Washington:
To be fair, what Biden signed had bipartisan support – and as the League of Conservation Voters notes, Republican populists are widely touting the benefits of “Biden’s” green corporate welfare schemes in their re-election campaigns. Even though they voted against the bill.
One could easily call this cynical. But sadly, it’s Standard Operating Procedure in D.C.
Corporate welfare programs like the CHIPs Act, which will shower billions of dollars on semiconductor companies to make chips in the U.S., had plenty of bipartisan support. The same was true for the Infrastructure Act passed in the Biden administration’s early days.
Corporate welfare has always been a bipartisan affair. The majorities change depending on which party controls the legislative agenda (and the White House). But the end is fairly predictable: more money will go out the door to support favored industries or individual companies, and everyone else will pay for it.
Remember that the next time a member of Team Blue or Team Red talks about how someone isn’t paying their fair share. It’s the politicians who’ve created the rules, and the incentives for corporations. Every time they point a finger of blame, three fingers point right back at them.
The opinions expressed in this article are those of the author and do not necessarily reflect the positions of American Liberty News.
READ NEXT: Third-Party White House Candidate Announces Running Mate
Norman Leahy
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
Norman Leahy
Norman Leahy has written about national and Virginia politics for more than 30 years with outlets ranging from The Washington Post to BearingDrift.com. A consulting writer, editor, recovering think tank executive and campaign operative, Norman lives in Virginia.
Search
follow us
subscribe
TRENDING STORIES
Trump v. Slaughter Restored The Presidency The Constitution Intended
Liberals Will Be Stunned To Learn What The Non-Religious Think About School Prayer
The AI Jobs Apocalypse Just Failed Its First Contact With The Evidence
Small Minds, Small Imagination: Washington’s Height Act Was Never A Cap On National Ambition
SECURITY
Trump Shares Instructions For Military In Event Of His Assassination By Iran
President Donald Trump said he has left instructions for the United States to launch an
Fox’s Kilmeade Says Trump Should Replace Kushner, Witkoff In Iran Talks
Fox News host Brian Kilmeade is urging President Donald Trump to overhaul his negotiating
Trump Declares Iran Ceasefire ‘Over’ After US Strikes 90 Military Targets, Gulf Tensions Explode
WASHINGTON — The three-month ceasefire between the United States and Iran has seemingly collapsed
Report: France And Denmark Were Prepared For ‘Shooting War’ If Trump Moved On Greenland
European leaders privately viewed the United States as a security risk under President Donald
FOREIGN AFFAIRS
Congressman Detained By Armed Israeli Settlers In West Bank Standoff
Rep. Ro Khanna (D-Calif.) says he and a congressional delegation were briefly detained by
Violence Flares Near Historic Christian Community In The West Bank
A Christian advocacy group is sounding the alarm after reporting that a West Bank
Trump Shares Instructions For Military In Event Of His Assassination By Iran
President Donald Trump said he has left instructions for the United States to launch an
Democrat House Candidate Faces Scrutiny Over Undisclosed 16-Day Marriage To Syrian National
A decades-old marriage is suddenly becoming campaign fodder in one of America’s most competitive
BUSINESS & ECONOMICS
Xbox CEO’s Federal Reserve Appointment Sparks Backlash Following Microsoft Layoffs
The Federal Reserve is facing criticism after appointing Xbox CEO Asha Sharma to a
The AI Jobs Apocalypse Just Failed Its First Contact With The Evidence
Imagine a chief executive standing before his investors after a bruising quarter. He overhired
Trump Orders Immediate Halt to Trade With Spain Over NATO Dispute
President Donald Trump dramatically escalated his pressure campaign against NATO allies on Wednesday by
Trump Backs New ‘Freedom Fuel’ Gas Stations
The White House is promoting a new “Freedom Fuel Network” of gas stations offering
HEALTH & SCIENCE
Senator Lindsey Graham Passes Away Suddenly At 71
Sen. Lindsey Graham (R-S.C.) has died at the age of 71 following what his
Texas Gov. Greg Abbott Orders Investigation Into Hospital Over Alleged Birth Tourism Advertising
Texas Gov. Greg Abbott has ordered a state investigation into a South Texas hospital
Bill Archer, Architect Of Landmark GOP Tax Reforms, Dies At 98
Former Rep. Bill Archer, the Texas Republican who chaired the powerful House Ways and
Neighbor Says Mitch McConnell’s Capitol Hill Home Has Been Quiet Since Hospitalization
WASHINGTON — A neighbor of Sen. Mitch McConnell says the Kentucky Republican’s Capitol Hill
At American Liberty News, we eschew the mainstream media’s tightly controlled narrative to provide our readers with real news, real insights, and the means to take action. We seek out insightful coverage – and partner with knowledgeable and experienced people and organizations to bring you the information and insight our readers demand.
We humbly seek to provide the tools and information necessary for our readers to decide for themselves what is true and what is right.
TOP TAGS
TOP CATEGORIES
FEATURES
American Liberty News ©2024
Evolution Digital Media
1900 Reston Metro Plz
Suite 600
Reston, VA 20190