Home > economics, politics > End ALL Corporate Welfare

End ALL Corporate Welfare

Here is a letter to the New York Times:

Ending tax breaks for oil companies and terminating ethanol subsidies are undoubtedly long overdue (Here’s an easy $100 Billion Cut, August 7); however, there are other easy cuts we can make: eliminate all corporate welfare and subsidies for the private sector.

Republican lawmakers will certainly attempt to characterize this as a tax increase, but subsidies and corporate welfare actually represent a policy of economic protectionism – and both political parties are equally guilty in efforts to please their respective constituents.

Picking winners and losers within private industry for the politically well-connected – such as agriculture, energy, banking, and healthcare – perpetuates anti-competitive behavior and drives up costs.  Ending corporate welfare will create a level playing field for business, increasing competition, fostering innovation, and driving down prices – a net plus for consumers.

Sincerely,

Craig D. Schlesinger

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