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Keyword: corporatewelfare

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  • It's a slam dunk: End federal subsidies for sports stadiums

    07/23/2017 9:56:38 AM PDT · by ptsal · 32 replies
    Washington Examiner ^ | July 23, 2017 | Erica Jedynak & John Tidwell
    [snip]Subsidizing ballparks for billionaire owners and millionaire players, however, shouldn't be part of the equation. According to the Brookings Institution, the stadium loophole has cost federal taxpayers $3.2 billion for 36 professional sports facilities since 2000. Maybe bringing together two senators from vastly different states and from widely different ideologies — U.S. Sen. James Lankford, an Oklahoma Republican, and U.S. Sen. Cory Booker, a New Jersey Democrat — will help inspire a fractious Congress to work together on a bipartisan bill to cut federal subsidies for sports stadiums. The bill would end the federal tax giveaway for municipal bonds used...
  • In this part of the Midwest, the problem isn’t China. It’s too many jobs.

    06/21/2017 9:41:37 AM PDT · by SeekAndFind · 32 replies
    Washington Post ^ | 06/21/2017 | By Danielle Paquette
    WARSAW, Ind. — Each day at Zimmer Biomet headquarters, machinists on one robot-assisted factory floor churn out about 3,000 metallic knee parts. They are facing pressure to crank up the pace as the population ages and demand soars. But the artificial-bone giant is grappling with a steep downside of the nation’s low unemployment rate: It is struggling to find enough workers, despite offering some of the region’s best pay and benefits. But without more people to grow Warsaw’s business, the chances of companies relocating is “extraordinarily high,” said Michael Hicks, a labor economist at Indiana’s Ball State University. “That would...
  • Iowa IT Firm Caught Posting ‘No Americans’ Job Listing

    06/19/2017 12:59:58 PM PDT · by NobleFree · 47 replies
    lifezette.com ^ | 13 Jun 2017 | Brendan Kirby
    An Iowa information technology staffing company last week posted an ad that essentially told American citizens they need not apply.The ad by American Technology Consulting, posted to the recruiting website ZipRecruiter, sought a java developer to work in San Diego. Initially, it stated “H1B Only,” a reference to the H-1B guest worker visa program for high-skilled workers. The company changed the ad and deleted reference to the H-1B visas, but critics said it likely violates the Civil Right Act, which prohibits discrimination on the basis of citizenship and national origin.“It’s explicitly against the law,” said Mark Krikorian, executive director of...
  • The Export-Import Bank Is Overdrawn

    06/11/2015 5:18:42 AM PDT · by Kaslin · 2 replies
    Townhall.com ^ | June 10, 2015 | Allen West
    The Export-Import Bank charter will expire in a few days, on June 30, unless Congress acts to reauthorize it. The Export-Import Bank was created more than 80 years ago by President Franklin D. Roosevelt to help foreign customers buy goods from the United States. Some companies benefit from the Export-Import Bank and they are the first ones to defend its reauthorization. But let’s be clear: Companies benefit from Export-Import Bank loans at the expense of taxpayers and other businesses. Taxpayers—not the companies themselves—assume the risk of a foreign loan, made through a private bank (like Goldman Sachs), to purchase a...
  • Republicans are about to kill a bank that's been around for 80 years — at least for a little while

    06/24/2015 7:50:39 AM PDT · by SeekAndFind · 22 replies
    Business Insider ^ | 06/24/2015 | ERICA WERNER, ASSOCIATED PRESS
    Congressional Republicans are poised to deal a sharp blow to their traditional allies in the business community by allowing the federal Export-Import Bank to go out of business at the end of the month. But it may only be temporary. The 81-year-old bank is a little-known federal agency created during the Depression that makes and guarantees loans to help overseas buyers purchase US products, from airplanes to bridges to baby clothes. Over the past year it's also become a surprising test of GOP purity, as tea party-backed lawmakers and outside conservative groups have denounced the bank as crony capitalism and...
  • The Largest Loan in Ex-Im History Is Covered in the Clintons’ Fingerprints

    07/13/2015 8:40:02 AM PDT · by afraidfortherepublic · 10 replies
    The National Review ^ | 7-13-15 | Brendon Bordelon
    Few in the odd coalition of Left and Right pushing for reauthorization of the 81-year-old Export-Import Bank have been louder than Democratic presidential candidate Hillary Clinton. “It’s wrong that candidates for president, who really should know better, are jumping on this bandwagon,” she said at a May 22 campaign stop in New Hampshire. “It’s wrong, it’s embarrassing. . . . The idea that we would remove this relatively small but vital source of funding for our businesses to compete is absolutely backwards.” Clinton’s defense of Ex-Im may be motivated by more than mere concern for American businesses. Critics have argued...
  • New German state firm to give startups €2 billion funding boost: report

    06/12/2017 6:20:53 AM PDT · by Olog-hai · 2 replies
    TheLocal.de ^ | 12 June 2017 12:38 CEST+02:00
    The German government will set up a new state-owned company which will provide startups with the money they need to transform a great idea into a successful business, Spiegel reports. As of 2018, startups will be able to apply to a new state-owned fund for the venture capital needed to accelerate the growth of their businesses, according to a government report seen by Spiegel. The company will be a subsidiary of the Kreditanstalt für Wiederaufbau (KfW), the state-owned development bank, and is set to fill part of an estimated annual hole of €500 million to €600 million in venture capital...
  • Elon Musk vows to step down from White House councils if US leaves Paris accord

    06/01/2017 6:11:16 AM PDT · by rktman · 70 replies
    foxnews.com ^ | 6/1/2017 | Ryan Gaydos
    Elon Musk, the CEO of Tesla and SpaceX, threatened to leave two White House advisory councils should President Trump pull the U.S. out of the landmark Paris Climate Agreement. Musk said he will have “no choice” but to depart the councils if Trump makes the decision. Don't know which way Paris will go, but I've done all I can to advise directly to POTUS, through others in WH & via councils, that we remain.............
  • Two GOP Legislators Propose American Replacement Bill, Plus Amnesty

    05/04/2017 8:05:35 AM PDT · by Rockitz · 52 replies
    Breitbart.com ^ | 4 May 2017 | Neil Munro
    Two GOP legislators are introducing legislation to let states annually import 500,000 foreign blue-collar workers and white-collar professionals to replace Americans who have fallen out of the workforce and into drug addiction. The American replacement bill is needed because companies can’t hire the employees they want amid the massive decline in the number of Americans who are seeking work, Wisconsin Sen. Ron Johnson told an event hosted Wednesday by the CATO Institute. “Why can’t Wisconsin manufacturers, why can’t small businesses, find enough people to work?” Johnson asked during a speech in a Senate hearing room with supporters of the replacement...
  • 4 Tech Companies Lobbying Trump Admin For More Foreign Workers, Mass Immigration

    05/02/2017 9:44:59 AM PDT · by davikkm · 28 replies
    breitbart ^ | JOHN BINDER
    In the age of President Donald Trump’s crackdown on the H-1B and strict enforcement of immigration law, tech conglomerates are lobbying the Congress and White House for amnesty and more foreign labor. These are the four tech companies, according to analysis by Quartz, pushing for no reforms to the H-1B visa and legal immigration system, as the current process of bringing more than 85,000 foreigners to the U.S. each year. Microsoft In the first quarter of 2017 during Trump’s presidency, Microsoft lobbied more for immigration and the H-1B visas than any other tech company. In Microsoft’s five out of eight...
  • Paul Ryan Expands H-2B Blue-Collar Outsourcing Program for 2017

    05/01/2017 11:01:33 AM PDT · by C19fan · 57 replies
    Breitbart ^ | May 1, 2017 | Neil Munro
    House Speaker Paul Ryan’s new 2017 budget allows the Department of Homeland Security to import at least 20,000 extra foreign blue-collar workers for seasonal jobs in the Untied States, instead of requiring companies to recruit, train and pay marginalized Americans.
  • Trump’s ‘Buy American, Hire American’ Policy Is Dangerous Nonsense

    04/21/2017 12:18:23 PM PDT · by Trump20162020 · 61 replies
    National Review Online ^ | 04/21/2017 | David Harsanyi
    Protectionism is becoming a bipartisan fad. ‘We don’t have a level playing field for our workers,” President Donald Trump told a group of workers in Kenosha, Wis., on Tuesday. Truth is, if we were to ever level the playing field with countries like Mexico and China, the average American worker would be making $3 an hour and spending his pittance on Third World health care and decrepit housing. Please, don’t level the playing field. When few things are going your way in politics, though, it’s customary to return to rhetoric that made you successful. So, as Republicans have been unable...
  • U.S. Homeland Security announces steps against H1B visa fraud

    04/03/2017 2:19:40 PM PDT · by Oldeconomybuyer · 9 replies
    Reuters ^ | April 3, 2017 | By Julia Edwards Ainsley
    The U.S. Department of Homeland Security announced steps on Monday to prevent the fraudulent use of H1B visas, used by employers to bring in specialized foreign workers temporarily, which appeared to fall short of President Donald Trump's campaign promises to overhaul the program. Trump had promised to end the lottery system for H1B visas, which gives each applicant an equal chance at 65,000 positions each year. Lobbyists for businesses who rely on H1B visas, commonly used by the tech sector, had expected Trump to upend the lottery in favor of a system that prioritized workers who are highly skilled and...
  • Three Actions for Combatting Government Favoritism

    03/16/2017 12:26:55 PM PDT · by Kaslin · 1 replies
    Townhall.com ^ | March 16, 2017 | Veronique de Rugy
    If the pre-budget rumors are true, President Donald Trump is making good on his promise to drain the swamp by putting a few corporate welfare programs, such as the Export-Import Bank and the Overseas Private Investment Corp., on the chopping block. Unfortunately, getting rid of cronyism in the federal government won't be easy, given the deep-rooted and mutually beneficial relationship between politicians and commercial interests. Still, the new administration and Congress could take some action in the coming year to move in that direction. Before I start detailing how, let me say that abolishing all corporate welfare programs is the...
  • Trump's Carrier deal confuses corporate welfare with free markets

    12/04/2016 11:05:28 AM PST · by SeekAndFind · 109 replies
    Because market freedoms create an environment for economic growth, thriving businesses and job creation, many people confuse "pro-market policies" with "pro-business" favors. But they aren't the same thing, and President-elect Trump hurts his own agenda when he conflates the two. He did so at the Indiana Carrier plant Thursday, when he announced a deal to keep some Mexico-bound Carrier jobs in Indiana. The deal is bad policy because it is loaded with at least $7 million in corporate welfare. It's bad politics because it rhetorically demolishes the crucial distinction between free-market policy on one hand, which benefits all businesses and...
  • The Economic Stupidity of the Carrier Bailout

    12/02/2016 3:09:18 PM PST · by EveningStar · 88 replies
    National Review ^ | December 2, 2016 | Kevin D. Williamson
    One particularly tough and indigestible nugget of talk-radio stupidity afflicting the guts of conservatism is the idea that there is some sort of fundamental difference between bribing a business with tax cuts and bribing it with a wheelbarrow full of cash. The Trump-Pence bailout of Carrier’s operations in Indiana provides an illustrative case... Republicans might have had a little bit of a point in the question of general tax cuts: A tax cut and spending are different things, even if the budgetary effects are exactly the same. But in the matter of industry-specific or firm-specific tax benefits of the sort...
  • Tilt from Tax Cutting to Corporate Welfare Renews Failed Approach to Economic Growth

    11/01/2016 7:20:47 AM PDT · by MichCapCon
    Michigan Capitol Confidential ^ | 10/24/2016 | Michael LaFaive
    During Michigan’s economic “Lost Decade” of the 2000s, state government seemed to have just one response for crushing declines in income and employment that cost about 800,000 residents their jobs between 2000 and 2010: more corporate welfare. If there was any evidence this approach works to turn around an ailing economy — there is not — it still could not have overcome the massive Michigan business and income tax increases imposed in 2007, and smaller exactions, such as a 2004 property tax hike. Starting in 2011 a new governor steered a different course. Gov. Rick Snyder scaled back the pace...
  • Potential Corporate Welfare Binge Risks Second Michigan ‘Lost Decade’

    10/25/2016 5:50:37 AM PDT · by MichCapCon · 5 replies
    Michigan Capitol Confidential ^ | 10/21/2016 | Michael LaFaive
    During Michigan’s economic “Lost Decade” of the 2000s, state government seemed to have just one response for crushing income and employment declines that cost some 800,000 residents their jobs between 2000 and 2010: more corporate welfare. If there was any evidence this approach works to turn around an ailing economy — there is not — it still could not have overcome the massive drag imposed on the Michigan economy by business and income tax increases enacted in 2007, and smaller exactions like a 2004 property tax hike. Starting in 2011 a new governor steered a different course. Gov. Rick Snyder...
  • The New Vikings Stadium Is a Broken Window Metaphor Come to Life

    07/26/2016 2:15:46 PM PDT · by Sopater · 49 replies
    Reason ^ | 7/26/16 | Eric Boehm
    Friday's grand opening of U.S. Bank Stadium, the $1.1 billion new home of the National Football League's Minnesota Vikings, was marred by a bit of vandalism. The façade of the new stadium was damaged last week when a vandal tossed a rock through one of the hundreds of glass panels that cover every inch of the stadium's exterior. The result: a hole big enough for a small human to crawl through, according to the Minneapolis Star-Tribune. The 10-foot-by-five-foot exterior glass panel was smashed, though an interior panel did not break.The newspaper said stadium security suspect the rock responsible for the...
  • Trump gives displaced IT workers attention, and he's not alone

    03/25/2016 10:44:25 AM PDT · by ConservingFreedom · 67 replies
    ComputerWorld ^ | Mar 24, 2016 | Patrick Thibodeau
    [...] It's not just senators and presidential candidates who are speaking out. Displaced IT professionals are telling about their experiences of having to train their visa-holding replacements. They are raising questions, and, increasingly, they are doing so in public. The latest to do so is Craig Diangelo, a longtime employee at Northeast Utilities (now Eversource) until he trained his visa-holding replacement. He was laid off two years ago and has not spoken out about the incident because of a non-disparagement clause in his severance agreement. The use of the visa at U.S. companies is an "epidemic" that has affected thousands,...