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Keyword: corporatewelfare

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  • Ex-Im critics sharpen knives for hearing (will bring up suspended bank officials and kickbacks)

    06/25/2014 4:05:33 AM PDT · by Cincinatus' Wife · 5 replies
    The Hill ^ | June 25, 2014 | Vicki Needham
    Criticism will rain down Wednesday on the Export-Import Bank as members of an influential House panel debate whether it’s time to disband the agency. Fred Hochberg, the chairman of the embattled bank, will square off in testimony against House Financial Services Committee Chairman Jeb Hensarling (R-Texas), who is leading the charge to let the bank’s charter expire in September. Hensarling and other members are likely to press Hochberg about reports that the bank has suspended or removed four officials for taking kickbacks, a controversy that could strengthen the hand of Ex-Im’s foes. Business supporters swarmed Capitol Hill ahead of the...
  • No Ex-Im lifeline from Boehner

    06/24/2014 9:05:21 AM PDT · by Cincinatus' Wife · 5 replies
    The Hill ^ | June 24, 2014 | Russell Berman
    Speaker John Boehner (R-Ohio) on Tuesday refused to offer a lifeline to the Export-Import Bank, sending another signal that Congress could allow the lending agency’s charter to expire at the end of September. Boehner has supported the bank in the past, but in response to questions from reporters, he distanced himself from that position and deferred instead to the chairman of the House Financial Services Committee, Rep. Jeb Hensarling (R-Texas), an outspoken opponent of reauthorization. “Listen, I have a different job than I had then,” Boehner said following a private House GOP meeting. “My job is to work with our...
  • Etsy gets $5M to stay in boro it said it’d never leave (Brooklyn NYC)

    05/13/2014 5:12:32 PM PDT · by Olog-hai · 27 replies
    Crain’s ^ | May 13, 2014 2:02 P.M | Thornton McEnery
    Gov. Andrew Cuomo announced Tuesday morning that Etsy is getting $5 million from New York state to stay in Brooklyn, a pretty nice sum for a company whose CEO publicly acknowledged just weeks ago that it “could only exist in Brooklyn.” “A company like Etsy could only exist in Brooklyn,” Etsy CEO Chad Dickerson said during an April 23 appearance at a Brooklyn Tech Triangle symposium. “Almost all of our employees live in Brooklyn and our Manhattan employees are treated with scorn.” Etsy, which was founded in Brooklyn in 2005, plans to add more than 340 jobs by 2019 (a...
  • Cliven Bundy And The Entitlement Of The Privileged

    04/30/2014 8:13:54 AM PDT · by Flame Retardant · 29 replies
    The Washington Post ^ | 4-29-14 | Katrina vanden Heuvel
    Nevada rancher Cliven Bundy's 15 minutes of fame are up. He was a Fox News poster boy when he refused to pay fees for grazing his cows on federal land and greeted federal rangers with the threat of armed resistance. But when he voiced his views on the joys of slavery for "the Negro," his conservative champions fled from his side. What is interesting about Bundy, however, is not his tired racism but rather his remarkable sense of entitlement. His cattle have fed off public lands for two decades while he refused to pay grazing fees that are much lower...
  • Ex-Im Bank and the GOP’s Cronyism Test: Republicans should take a stand against corporate welfare

    04/07/2014 7:00:37 AM PDT · by SeekAndFind · 11 replies
    National Review ^ | 04/07/2014 | Sen. Mike Lee
    For five years now, the Republican party has attacked the economic policies of President Barack Obama as “crony capitalism.” And with good reason. From the stimulus to cash-for-clunkers, from the bailouts to cap-and-trade, from Dodd-Frank to Obamacare, every name-brand initiative of the Obama era has distorted public policy to privilege well-connected insiders and elites at the expense of taxpayers and consumers. Republicans have slammed all this “corporate welfare” and “venture socialism” for unfairly “picking winners and losers in the marketplace.” In 2012, for the first time, “crony capitalism” was even singled out for condemnation in the Republican party platform. The...
  • Corporate-Welfare Queens: Conservatives Need to Take Them On

    03/27/2014 6:48:21 AM PDT · by SeekAndFind · 10 replies
    National Review ^ | 03/27/2014 | Stephen Moore
    Representative Paul Ryan of Wisconsin will release his House Republican budget next week, and one of its themes will be the fighting against corporate welfare. Mr. Ryan says, “We can’t make the case to the American people that we are the reform party if we won’t reform the giant corporate-welfare state in Washington.” Bravo. Too bad so few of his colleagues agree with him. It’s very simple, really: Republicans have to be willing to cut weak claims, not weak claimants, as Reagan budget director David Stockman used to say. But corporate welfare has strong claimants: deep-pocketed business interests that rely...
  • GOP can make 2014 elections a referendum on corporate welfare

    03/12/2014 9:44:54 AM PDT · by TBP · 29 replies
    Washington Examiner ^ | MARCH 7, 2014 AT 6:33 PM | TIMOTHY P. CARNEY
    “Whose side are you on?” That's the Democratic mantra for the 2014 elections. It's the same “people versus the powerful” line that Democrats trot out every two years, because it works. But this year Republicans can turn this narrative on its head and make the midterm elections a referendum. Are you on the side of the Republicans, taxpayers and free enterprise? Or are you on the side of President Obama, K Street and corporate welfare? Two high-stakes corporate welfare issues could be on the table this year: taxpayer-backed subsidies for big exporters and Obamacare's insurer bailouts. Democrats are shackled to...
  • Bill Would Keep $60 Million Special Deal in Place For Company

    02/24/2014 8:51:47 AM PST · by MichCapCon · 6 replies
    Capitol Confidential ^ | 2/19/2014 | Jack Spencer
    Hemlock Semiconductor Corp., one of Michigan's most favored corporate welfare recipients, wants to be billed for just two-thirds of the electricity it uses. For years, the state of Michigan has obliged by setting up a 32 percent discount rate for the Saginaw County company, which saves it roughly $60 million annually. This sweetheart deal for Hemlock is scheduled to end soon, but if passed, House Bill 5013 would allow Hemlock to continue getting the lower rate indefinitely. In addition to its electricity rate discount, Hemlock has received — and continues to receive — hundreds of millions of dollars in subsidies...
  • Bill Would Add Paid Members to State's Corporate Welfare Agency

    02/18/2014 6:56:38 AM PST · by MichCapCon · 4 replies
    Capitol Confidential ^ | 2/13/2014 | Jack Spencer
    Michigan's corporate welfare infrastructure could soon find itself larger if a new group of up to 10 members is added to a board as part of legislation in the House Commerce Committee. House Bill 4998, as originally drafted, would place members of this new group on the Michigan Strategic Fund payroll for up to two years. However, Rep. Wayne Schmidt, R-Traverse City, the sponsor of the bill, said the legislation is probably going to be changed and that most likely the appointees would not be given paid positions. "I agree with that and other possible changes, including those discussed at...
  • Congress approves five-year farm bill

    02/04/2014 12:12:04 PM PST · by GIdget2004 · 55 replies
    Politico ^ | Feb 4, 2014 | David Rogers
    The long-tortured farm bill cleared Congress Tuesday, ending a two year struggle that split the old farm-food coalition as never before and dramatized the growing isolation of agriculture and rural America in an ever more urban House. Written off as dead just months ago, the giant five-year measure won final approval from the Senate on a 68-32 roll call and goes next to President Barack Obama for his signature.
  • Corporate Welfare Agency Has 52 Employees Who Earn More Than $100K

    01/27/2014 6:42:52 PM PST · by MichCapCon · 9 replies
    Capitol Confidential ^ | 1/23/2014 | Tom Gantert
    Promoting corporate welfare can be lucrative. There are now 52 employees of the Michigan Economic Development Corp. with annual salaries of $100,000 or more. That is a roughly 60 percent increase over the 31 MEDC employees that topped $100,000 in 2010, the last year Jennifer Granholm was governor. The Michigan Information and Research Service, a Lansing political newsletter, reported the new MEDC salary numbers, which it said it obtained from the MEDC. In its article, MIRS made a distinction between the 12 "public" MEDC employees who made $100,000 or more and the 40 "corporate" employees who made $100,000 or more....
  • Obamacare - Corporate Wealth Transfer or 'The New Capitalism'?

    01/17/2014 10:24:46 AM PST · by Noremac · 12 replies
    Blasted Fools.com ^ | January 17, 2014 | Richard Cameron
    Does the government reimburse your business when they lose money? Did the government make your business a protected monopoly? Sorry, that's how 'capitalism' works, ol' son.   For some time now I've been attempting to convey the reality that Corporate America, or otherwise casually referred to as 'Big Business', broadly speaking - is not practicing what many of us who consider ourselves conservatives would classify as legitimate capitalism. Corporatism, Corporatocracy, Corruption, Rent Seeking?, yes. Classic capitalism? - no. The obstacle in exposing it is that there is a very vocal sub-strata of so-called 'conservative' personalities – mostly radio hosts,...
  • What Economic Development Transparency Should Look Like

    01/17/2014 8:29:58 AM PST · by MichCapCon · 2 replies
    Capitol Confidential ^ | 1/16/2014 | James Hohman
    State lawmakers are considering an extension of Michigan's "21st Century Jobs Fund" program, which would be unfortunate. At the very least, this and other "legacy" corporate welfare programs must provide much greater transparency. Taxpayers should be able to see what they've gotten for the special benefits previously authorized for particular corporations and developers, which will continue to flow for a number of years. Specifically, the Michigan Economic Development Corp. must be required to regularly report how much is being handed out and to whom by these programs — not just the amounts initially authorized. The information should be provided at...
  • Direct Cash Grants: Anti-Crony Capitalism Policies Fall Short

    12/20/2013 9:18:51 AM PST · by MichCapCon · 1 replies
    Capitol Confidential ^ | 12/19/2013 | James Hohman
    For equitable economic growth over the long-term, it's essential to take a no-favors approach. This promotes a fair playing field for everyone, not simply the lucky few. The first few years of Gov. Rick Snyder's administration characterized this viewpoint. Policymakers eliminated the state's complex and favor-laden Michigan Business Tax and replaced it with a flat corporate income tax with few credits. In addition, the burden of business taxes was lightened, allowing job creators to keep more of their money. We should applaud the immense number of jobs created without needing to reach into taxpayer pockets to bring them here. Legislators...
  • Pressure Mounting For MEDC Transparency

    12/02/2013 1:35:30 PM PST · by MichCapCon
    Capitol Confidential ^ | 11/23/2013 | Jack Spencer
    Those who want to bring transparency to the Michigan Economic Development Corp. have some new allies — House Democrats. The MEDC is a government authority that is supposed to spur economic activity and promote the state of Michigan. For years, the MEDC has been criticized for a lack of transparency. House Democrats are joining critics like the Mackinac Center for Public Policy in saying that Michigan taxpayers have the right to find out whether the MEDC is spending tax dollars wisely or wasting it. Earlier this month, pressure was put on the House Commerce Committee to put some real teeth...
  • Legislators Vote To Continue Special Subsidy Program Without Knowing Whether It Works

    11/14/2013 6:19:15 AM PST · by MichCapCon · 2 replies
    Capitol Confidential ^ | 11/11/2013 | Tom Gantert
    The state senate overwhelmingly passed a bill extending the life of an $844.5 million economic development program despite the legislators not knowing how well the program was performing because of a lack of transparency. Senate Bill 269 would extend funding for the 21st Century Jobs Fund an additional four years; it was supposed to sunset in 2015. It passed the senate by a 33-4 vote Oct. 31. The bill now goes to the House of Representatives. The 21st Century Jobs Fund was created using money from a tobacco company lawsuit settlement. "It's not possible to get a clear picture of...
  • Don't Extend Granholm's 'Blown Away' Program

    11/13/2013 12:49:46 PM PST · by MichCapCon · 3 replies
    Capitol Confidential ^ | 11/9/2013 | Jack McHugh
    Without much fanfare, the Michigan Senate recently approved pouring an additional $300 million through 2019 into a corporate welfare program that's a holdover from Gov. Jennifer Granholm's time in office. An annual $75 million earmark to the program had been scheduled to sunset in 2015. Before rubber-stamping the extension, House members should force the state's "economic development" gurus to finally cough up some basic information on the actual performance and outcomes of this 21st Century Jobs Fund scheme. Former Gov. Jennifer Granholm made big promises. For starters, they should demand to know how much taxpayer money has been spent, and...
  • Why JPMorgan Wants to See More Americans on Food Stamps

    10/20/2013 10:32:34 AM PDT · by Nachum · 24 replies
    Money Morning ^ | APRIL/9/2013 | David Zeiler
    Every time an American signs up for food stamps in one of 23 states, JPMorgan Chase & Co. (NYSE: JPM) adds to its revenue stream. That because JPMorgan Chase contracts to operate as the processor of the Electronic Benefits Transfer (EBT) cards in those states. JPMorgan earns a fee for each recipient, ranging from 31 cents to $2.30, depending on the state, every month for the term of the contract. JPMorgan's seven-year Supplemental Nutrition Assistance Program (SNAP, the official name for the federal food stamp program) contract with New York state, for example, brought in more than $126 million of...
  • Déjà Vu All Over Again For Auditor General Report On Select Subsidy Programs

    10/16/2013 7:41:30 AM PDT · by MichCapCon · 1 replies
    Capitol Confidential ^ | 10/14/2013 | Jarrett Skorup
    It became prominent state news last week when a performance audit of state subsidy program showed overstated job creation. The state subsidy program reported to the Legislature that 75 percent of projected jobs came to be, but the Auditor General report says that, at most, only 19 percent of the original jobs projected came to fruition. The program is the 21st Century Jobs Fund, which is administered by the Michigan Strategic Fund. The fund oversees several programs that give grants and loans to certain businesses in Michigan, including high-profile failures like the battery-maker A123 Systems, and the biofuels company Mascoma...
  • Bill Grants Big Businesses Power to Raise Taxes in 'Business Improvement Zones'

    09/25/2013 11:53:41 AM PDT · by MichCapCon · 7 replies
    Capitol Confidential ^ | 9/22/2013 | Jarrett Skorup
    The Michigan Legislature passed a bill that would expand "business improvement zones" and allow larger businesses to potentially force smaller companies into paying higher taxes. Senate Bill 257 is sponsored by Sen. Mike Kowall, R-White Lake. It passed the House 77-31 and the Senate 31-4. MichiganVotes.org describes the law as "increase[ing] from seven years to 10 years the time one of these zones can operate without reauthorization, revise voting rules in a way that (potentially) reduces the proportion of property owners in the district needed to impose a zone's tax-and-spending powers, increase the proportion of owners needed to dissolve one,...
  • Motion Picture Association of America Wants Permanent Corporate Welfare For Movies

    09/19/2013 1:15:59 PM PDT · by MichCapCon · 29 replies
    CapCon ^ | 9/19/2013 | Jarrett Skorup
    Taxpayers are constantly told that film incentives are supposed to be a “temporary” subsidy to “plant and grow” an industry. But as Milton Friedman once observed, “Nothing is so permanent as a temporary government program.” In North Carolina, the legislature has cut the state incentive program, once among the most generous in the nation, down to zero starting in 2014. While debating the budget, the Motion Picture Association of America, sent a letter to the state that read: “[W]ithout an extension of the production incentive program, North Carolina will no longer be considered for major feature films.” The MPAA represents...
  • Pro Sports Subsidies are a Team Game

    08/29/2013 4:05:24 PM PDT · by TurboZamboni · 3 replies
    jason lewis homepage ^ | 8-28-13 | Jason Lewis
    Now that the heirs of Carl Pohlad’s estate are caught up in the very confiscatory tax regime their favorite politicians helped create, it is tempting to root for the taxman just to make a point. Seems the IRS believes the Pohlad boys undervalued their prized possession, the Minnesota Twins, to the tune of $269 million as part of their late father’s estate. Now the greedy hand wants at least $121 million from the franchise the taxpayers built.
  • Here are 239 examples of Barack Obama’s lying, lawbreaking, corruption, cronyism, etc.

    08/10/2013 7:16:24 AM PDT · by grundle · 8 replies
    wordpress ^ | August 9, 2013 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Here are 239 examples of Barack Obama’s lying, lawbreaking, corruption, cronyism, etc. In the 2008 United States election, I wrote in Ron Paul for President. In the 2012 election, I voted for Libertarian Party candidate Gary Johnson. Those who are of a more leftist persuasion than myself might want to consider voting for the Green Party in future elections. Some of the things on this list are major events that should scare the daylights out of any true liberal who cares about civil liberties.Other things on this list are medium things that some Obama supporters may...
  • Corporate Welfare for IBM, Accenture at Heart of Senate Amnesty Bill

    08/03/2013 2:40:29 PM PDT · by xzins · 8 replies
    Breitbart ^ | 1 Aug 2013 | Matthew Boyle
    The Senate’s immigration bill contains a tech industry handout for some companies like IBM and Accenture. It would virtually eliminate competitors in the market for highly-skilled immigrant labor. Multiple sources close to the immigration debate have told Breitbart News that the provision is a key reason the corporate titans helped build support for passage of the immigration bill in the Senate. They fought hard to pass the law in the Senate and have been strategizing to get final passage in the House. At issue is an overlooked change to the H1B visa system, used primarily by technology companies seeking foreign...
  • New $444 million hockey arena is still a go in Detroit [corporate welfare in bankrupt city]

    08/01/2013 12:57:47 AM PDT · by grundle · 25 replies
    CNN ^ | July 26, 2013 | Chris Isidore
    Detroit's financial crisis hasn't derailed the city's plans to spend more than $400 million in Michigan taxpayer funds on a new hockey arena for the Red Wings. Advocates of the arena say it's the kind of economic development needed to attract both people and private investment dollars into downtown Detroit. It's an argument that has convinced Michigan Gov. Rick Snyder and Kevyn Orr, the emergency manager he appointed to oversee the city's finances, to stick with the plan. Orr said Detroit's bankruptcy filing won't halt the arena plans. "I know there's a lot of emotional concern about should we be...
  • Corporate Welfare a Continual Failure

    07/08/2013 7:41:13 AM PDT · by MichCapCon · 7 replies
    Michigan Capitol Confidential ^ | 7/3/2013 | Jarrett Skorup
    Bill Shea of Crain’s Detroit Business has an article titled, “Many dollars, little sense: Projects that seemed like good ideas at the time…,” which looks at high-profile government projects long on promises but short on results. Shea cites AutoWorld, the Detroit People Mover, Pinnacle Race Course, Unity Studios in Allen Park, Asian Village and the Jefferson plant deal. Unfortunately, because of the incentives for politicians and the coverage from the media, these “bold” government projects too often are the norm. In recent years, this has included film subsidies, MEDC select business deals focusing on “green energy” and the “cool cities”...
  • Michigan Senate Bill Aims to Bolster Corporate Welfare

    07/01/2013 5:43:41 PM PDT · by MichCapCon · 3 replies
    Michigan Capitol Confidential ^ | 6/29/2013 | Jarrett Skorup
    A new bill that would rename and expand formerly failed economic development programs has passed the Michigan Senate nearly unanimously and now moves on to the House of Representatives. Sponsored by Sen. Virgil Smith, D-Detroit, Senate Bill 271, would "increase maximum amount of state 'community revitalization' grants (formerly 'brownfield' and 'historic preservation' tax credits) that can be awarded to a particular developer, corporation or other special interest from $1 million to $2.5 million; allow four annual loans of up to $20 million each to particular interests for this purpose; and in general, remove various statutory prescriptions and restrictions on how...
  • Here are 200 examples of Barack Obama’s lying, lawbreaking, corruption, cronyism, etc.

    06/20/2013 5:08:07 PM PDT · by grundle · 8 replies
    wordpress ^ | June 20, 2013 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Here are 200 examples of Barack Obama’s lying, lawbreaking, corruption, cronyism, etc. In the 2008 United States election, I wrote in Ron Paul for President. In the 2012 election, I voted for Libertarian Party candidate Gary Johnson. Those who are of a more leftist persuasion than myself might want to consider voting for the Green Party in future elections. Some of the things on this list are major events that should scare the daylights out of any true liberal who cares about civil liberties.Other things on this list are medium things that some Obama supporters may...
  • Speedway Assistance: Public Safety or Corporate Welfare?

    05/14/2013 6:11:16 AM PDT · by MichCapCon · 20 replies
    Michigan Capitol Confidential ^ | 5/12/2013 | Jack Spencer
    Handing over taxpayer dollars to assist Michigan International Speedway has become a tradition at the state capitol. The Senate version of the 2014 state police budget would appropriate $800,000 for traffic control at Michigan International Speedway (MIS). If that appropriation stays in the budget, it would bring the amount of budgeted taxpayer dollars used to help support MIS over the past five years to just shy of $20 million. Senate Bill 185 labels the appropriation as "Traffic Control Support." It is used to pay for the state police to handle traffic control around the speedway, particularly for a couple of...
  • Here are 173 examples of Obama’s lying, lawbreaking, corruption, cronyism, hypocrisy...

    05/13/2013 3:11:04 PM PDT · by grundle · 14 replies
    wordpress ^ | May 12, 2013 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Here are 173 examples of Barack Obama’s lying, lawbreaking, corruption, cronyism, hypocrisy, government waste, and other misdeeds http://tinyurl.com/173examplesHere are 173 examples of Barack Obama’s lying, lawbreaking, corruption, cronyism, hypocrisy, government waste, and other misdeeds.In the 2008 United States election, I wrote in Ron Paul for President. In the 2012 election, I voted for Libertarian Party candidate Gary Johnson. Those who are of a more leftist persuasion than myself might want to consider voting for the Green Party in future elections. Some of the things on this list are major events that should scare the daylights out...
  • Miami Dolphins May Consider Palm Beach County Stadium

    05/10/2013 1:39:37 AM PDT · by SoFloFreeper · 12 replies
    Gossip Extra ^ | 5/9/13 | Jose Lambiet
    The Miami Dolphins would consider building a brand new stadium in Palm Beach County, Fins CEO Mike Dee told reporters today. Dee, who’s still smarting from the team’s failure to get state dollars to renovate Sun Life Stadium, was asked directly about Palm Beach County — and said the team would consider moving north. “We’re open-minded to all long-term solutions,” Dee responded, according to The Miami Herald. “You can’t close the door on anything.
  • Miami Dolphins stadium renovation bill rejected [NO Taxpayer $ for Billionaire NFL Owner]

    05/04/2013 4:45:54 AM PDT · by SoFloFreeper · 35 replies
    Reuters ^ | 5/3/13 | Kevin Gray
    A proposal by the Miami Dolphins to use taxpayer money to help finance an upgrade of the NFL team's stadium failed on Friday to win broad support among Florida state lawmakers, dealing a potential blow to Miami's bid to host the 2016 Super Bowl. The Dolphins, owned by real estate tycoon Stephen Ross, lobbied the state legislature for months to back a bill to increase hotel taxes in Miami-Dade County to finance nearly half of a proposed $350 million renovation of the Sun Life Stadium, which is privately owned.
  • State Government Has Poor Record Predicting Jobs

    04/22/2013 8:09:44 AM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 4/20/2013 | Tom Gantert
    State government agencies have a long history of making bad decisions about which companies should get select tax breaks from Michigan. But that hasn't stopped them from making extravagant job predictions. That was routine during the eight years Jennifer Granholm was governor. And some still want to know how many jobs specific policies will create. MLive political commentator Tim Skubick chastised Gov. Snyder recently for not giving an estimate on how many jobs the right-to-work law would create in Michigan. In February 2012, Skubick also criticized Gov. Snyder for not predicting how many jobs would be created by the governor's...
  • State Economic Development Group Has Little To Do With Job Success

    04/11/2013 6:44:58 AM PDT · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 4/9/2013 | Tom Gantert
    John Austin, president of the Michigan State Board of Education, said he doesn't believe companies are calling Michigan because of the state's new right-to-work law. In an MLive column, Austin, a Democrat from Ann Arbor, wrote: "And despite protestations to the contrary, I am not convinced the phones at the Michigan Economic Development Corporation have been ringing off the hook with new firms eager to come to Michigan since the law passed." In an email, Austin said he was referring to comments Gov. Rick Snyder made to The Detroit News in which the governor said: "The phone's already been ringing...
  • Three Years On, Obamacare Has Become Irresistable

    03/24/2013 12:23:55 AM PDT · by Kaslin · 43 replies
    Townhall.com ^ | March 24, 2013 | Austin Hill
    It has been federal for three years. It has brought chaos to the labor markets. It has cost people their livelihoods and it is more unpopular than ever. So why does “Obamacare” (officially known as the “Affordable Care Act”) remain so irresistible for so many of our fellow Americans? Because at its core Obamacare is not about health care, so much as it is about the redistribution of wealth, and for those who are on the receiving end of the redistribution the agenda is completely irresistible. When the federal government doles-out cash, it’s difficult to say “no.” That’s why many...
  • US Army joins battle to save stricken Shell rig

    01/06/2013 12:15:19 AM PST · by bruinbirdman · 21 replies
    The Telegraph ^ | 1/5/2013 | Emily Gosden
    The US Army has been called in to help with the battle to salvage Royal Dutch Shell’s stricken Kulluk Arctic drilling rig, which has now been beached in environmentally delicate waters for nearly a week. The Kulluk, one of two rigs crucial to Shell’s controversial Arctic oil exploration plans, ran aground on New Year’s Eve as it was hit by a fierce storm while being towed to Seattle for maintenance. Two Chinook helicopters from the 16th Combat Aviation Brigade flew to the scene on Friday to help transport heavy equipment for the salvage operations. Three vessels are on site and...
  • Vitter wants answers on Brazil drilling loan; Paul wanted answers too

    03/22/2011 2:19:36 PM PDT · by Crush · 31 replies
    The US Report ^ | 22 March 2011 | Kay Day
    Sen. David Vitter (R-La.) wants answers from the US taxpayer supported Export-Import bank about a $2 billion loan to Brazil for offshore drilling. Vitter’s home state is suffering under a moratorium imposed by President Barack Obama. Vitter said Louisianians “are frustrated” and he wants to know “why permitting domestically is nearly stalled…” Rep. Ron Paul (R-Texas) had questions about ExIM—nine years ago when he asked Congress to reject the reauthorization of ExIm for “economic, constitutional and moral reasons.” Vitter sent a letter to Fred Hochberg, Ex-Im president, on March 17. Vitter asked Hochberg to identify all US companies that have...
  • Holiday-Themed Video on Corporate Welfare, "Miracle on Wall Street"

    12/06/2012 9:50:14 AM PST · by wewillnotcomply · 2 replies
    Watch this new holiday-themed video that asks the following question: Why does the government force us to spend billions each year on corporate welfare?
  • Spotty Track Record Doesn't Stop State Agency From Doling Out Deals

    10/18/2012 1:16:44 PM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 10/15/2012 | Tom Gantert
    Despite a spotty record on positive job returns, the Michigan Economic Development Corp. is offering up more tax deals to try and create jobs in the state. The MEDC's most recent beneficiary is General Motors Co., which announced recently it expects to create 1,500 jobs over the next several years at the company's Warren Tech Center. The MEDC is planning to amend an existing tax credit agreement to cover the project. However, GM's track record with job projections involving the MEDC has not been good. In five of the six deals going back to 1999, GM ended up with fewer...
  • A Messenger Who Does the Shooting (Stephanie Cutter, who came up w/Big Bird push!)

    10/13/2012 10:41:05 PM PDT · by 2ndDivisionVet · 20 replies
    The New York Times ^ | October 12, 2012 | Amy Chozick
    TWO days after President Obama’s first debate against Mitt Romney, Stephanie Cutter, a deputy campaign manager for the Obama re-election effort, decided to tweak Mr. Romney for his attack on federal funding for PBS. On Twitter, Ms. Cutter, known for her dry sense of humor and sharp edge, circulated a photo of Big Bird outside an Obama rally with the hashtag #ProtectSesameStreetNotWallStreet to her 42,700-plus followers. The Big Bird attacks started to take on a life of their own. The following week, the Obama campaign introduced a tongue-in-cheek ad that compares Big Bird to Bernard L. Madoff and other corporate...
  • "Million Muppet March" planned to defend U.S. backing for PBS

    10/12/2012 6:44:30 PM PDT · by cruise_missile · 62 replies
    Reuters ^ | October 12, 2012 | Daneil Trotta
    (Reuters) - Plans to save Big Bird, the fuzzy yellow character on U.S. public television's "Sesame Street," from possible extinction are taking shape in the form of a puppet-based protest next month dubbed the "Million Muppet March." The demonstration is planned for November 3 at the National Mall in Washington, D.C., three days before the general election. Before the presidential debate between Democratic President Barack Obama and Republican challenger Mitt Romney had concluded on October 3, two men who had never met each floated the Million Muppet March idea on social media. They immediately united to defend public broadcasting. Romney...
  • Michigan Agency Removes Video of Obama, Top Dems Praising Failed Battery Company

    10/10/2012 9:00:35 AM PDT · by MichCapCon · 15 replies
    Michigan Capitol Confidential ^ | 10/10/2012 | Jarrett Skorup
    In the fall of 2010, the Michigan Economic Development Corp. — the state's "corporate welfare” arm — uploaded a video to YouTube highlighting the battery manufacturer A123 Systems. At the time, the company was promoted heavily by President Barack Obama, U.S. Secretary of Energy Steven Chu, former Michigan Gov. Jennifer Granholm and U.S. Sens. Carl Levin and Debbie Stabenow. Since then, A123 has shed money, laid off half its workforce, recalled products and seen its stock price plummet to about 26 cents this week from a previous high of $26. Now, just two years after the initial roll-out, A123 is...
  • Mitt Romney and the Politics of Virtue

    10/03/2012 10:06:07 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | October 3, 2012 | Marvin Folkertsma
    When Mitt Romney blurted out his now notorious 47-percent lament, liberal gaffe-o-meters went ballistic, acting as though he were an American Ebenezer Scrooge who had just shoved Tiny Tim Cratchit into a ditch and then burned down a crutch factory. As several observers have noted, this amorphous statistic includes myriads of worthy beneficiaries indeed, such as veterans, social security recipients, the physically or mentally disabled, the deserving poor, and those utterly unable to take care of themselves in a society where the federal government has assumed tasks that once were the preserve of families, churches, voluntary organizations, and state or...
  • Economic Development a Campaign Tool

    09/21/2012 2:16:51 PM PDT · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 9/18/2012 | Jarrett Skorup
    The Washington Post editorialized recently that President Barack Obama set a goal of 1 million electric and plug-in hybrid vehicles on the road by 2015. Just last year, the Obama administration’s Department of Energy produced a report that said, “The goal is achievable.” These projections turned out to be wildly incorrect. The DoE thought General Motors alone would make 120,000 Chevy Volts in 2012. Instead, there are about 21,000 Volts total on the road and GM just announced that it was shutting down parts of production for the vehicle because of low sales. And this despite massive state and federal...
  • Crony Capitalism Running Rampant

    09/17/2012 3:42:42 AM PDT · by Kaslin · 17 replies
    Townhall.com ^ | September 17, 2012 | Bruce Bialosky
    “Government ’help’ to business is just as disastrous as government persecution... the only way a government can be of service to national prosperity is by keeping its hands off.” That is what Ayn Rand has to say about government involvement in the world of business, but the full extent of this practice is difficult to nail down. Tad DeHaven of the CATO Institute investigated the situation to determine exactly how deep the problem runs. Periodically, CATO analyzes the federal budget to ascertain exactly how much money our government shovels out to favored parties. Unfortunately, over the years both parties have...
  • State Gives Company $1.65 Million, Creates Zero Jobs and Goes Out of Business

    07/31/2012 7:16:01 AM PDT · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 7/30/2012 | Jarrett Skorup
    The state of Michigan gave one company $1.65 million, with which zero jobs were created or retained after the business went bankrupt. This is one of several instances where projections fell short for a state fund designed to support select businesses. The money was given through the Michigan Strategic Fund, a state program that administers the 21st Century Investments program “to strengthen and diversify Michigan’s economy by investing in venture capital, private equity, and mezzanine funds as a method to create jobs and provide financial assistance for the creation of new businesses or industries.” To date, the direct investment category...
  • AG Says State Did Not 'Evaluate the Effectiveness' of $500 Million in Select Tax Breaks

    07/26/2012 6:11:18 AM PDT · by MichCapCon · 3 replies
    Michigan Capitol Confidential ^ | 7/23/2012 | Matthew Needham
    An audit of a state program awarding over $500 million in tax breaks found that the state could not evaluate the program’s effectiveness. A performance audit from the auditor general found that the Department of Treasury "did not have sufficient performance information available to evaluate the effectiveness of the Brownfield Redevelopment Financing Program." The Brownfield Redevelopment Financing Program allows municipalities to create Brownfield Redevelopment Authorities, which use Tax Increment Financing to redevelop properties deemed “contaminated, blighted or functionally obsolete.” Tax Increment Financing is used to subsidize redevelopment through expected future gains in tax revenue. The brownfield program is not the...
  • A Bipartisan Disaster: Michigan 'Corporate Welfare' Program Rolls On

    07/24/2012 2:09:33 PM PDT · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 7/24/2012 | Jarrett Skorup
    The Michigan Economic Development Corp. is the corporate welfare arm of state government. The state agency provides tax breaks and outright cash subsidies to select corporations and developers chosen by legislators and bureaucrats. The MEDC’s website contains press releases going back to 1998, when the agency was created by a Republican governor with bipartisan votes in the House and Senate (it replaced another agency, the “Michigan Jobs Commission”). There are a lot of them — several press releases a week in most years. Newspaper readers around the state have often seen these turned into “news” stories about particular corporations getting...
  • Select Tax Breaks For State 'Renaissance Zones' Program Returns One-Fifth of Predicted Jobs

    07/13/2012 8:16:22 AM PDT · by MichCapCon · 4 replies
    Michigan Capitol Confidential ^ | 7/10/2012 | Jarrett Skorup
    Only a third of expected private investment and a fifth of expected jobs have been delivered among six companies selected by the state of Michigan to receive special tax breaks. An additional company is in the process of being removed from the program. These tax breaks came as part of the state's Renaissance Zones program. Companies selected for the program have been exempt from the Michigan Business Tax, state education tax, personal and real property taxes, and local income taxes. "Renaissance Zones are selective abatements to areas and businesses that eliminate virtually all state and local taxes," said James Hohman,...
  • A Tale of Two Conservatives

    06/18/2012 12:20:05 PM PDT · by CDB · 10 replies
    The Wall Street Journal ^ | June 18, 2012 | WSJ Editorial Board
    One test for economic conservatives is whether they are willing to oppose constituent business interests looking for government favoritism. On that score, two recent contrasting votes by Jim DeMint of South Carolina and Marco Rubio of Florida are instructive. The political habit of favoring big business is bipartisan, as the sugar and Ex-Im Bank votes show. If Republicans want the political credibility to reform middle-class entitlements, they had better be prepared to eliminate corporate welfare too. Kudos to Mr. DeMint for understanding this.