How Corporate Socialism Destroys
A proposal to spend $250 million of taxpayer money on a retail
project here illustrates the damage state and local subsidies do by
taking from the many to benefit the already rich few.
Nationwide state and local subsidies for corporations totaled more
than $70 billion in 2010, as calculated by Professor Kenneth Thomas of
the University of Missouri-St. Louis
In a country of 311 million, that’s $900 taken on average from each
family of four in 2010. There are no official figures, but this one is
likely conservative because — as documented by Thomas, this column and
Good Jobs First, a nonprofit taxpayer watchdog organization funded by
Ford, Surdna and other major foundations — these upward redistributions
of wealth keep increasing.
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