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Keyword: corporatewelfare

Brevity: Headers | « Text »
  • Record number of H-1B applicants sparks immigration debate

    04/15/2015 6:04:52 AM PDT · by artichokegrower · 8 replies
    San Jose Mercury News ^ | 04/14/2015 | Matt O'Brien
    Companies are seeking more foreign workers than ever before to fill highly skilled jobs in technology and other industries, but the United States will grant visas to just a fraction of them in a lottery that began this week.
  • Sanders blasts U.S Corporations for Dodging Taxes

    04/12/2015 9:16:07 AM PDT · by Wolfie · 84 replies
    Senate Budget Committee ^ | April 09, 2015
    Sanders blasts U.S Corporations for Dodging Taxes BURLINGTON, Vt., April 9 – Sen. Bernie Sanders (I-Vt.), the Senate Budget Committee ranking member, today issued the following statement on new data showing the extent to which some American companies are avoiding taxes: “I applaud Citizens for Tax Justice for releasing new data today revealing the unfairness of our tax system and the fact that a number of the biggest and most-well known corporations in America continue to pay little or nothing in taxes. At a time when we have massive wealth and income inequality, and when corporate profits are soaring, it...
  • Senators Ask Feds To Investigate Guest Worker Visa Abuse

    04/10/2015 9:20:32 AM PDT · by ConservingFreedom · 15 replies
    Daily Caller ^ | 04/09/2015 | Rachel Stoltzfoos
    A bipartisan group of senators urged the Obama administration Thursday to investigate reports that businesses are using a visa program to replace American workers with cheap foreign labor.The unlikely coalition, led by Republican Sen. Jeff Sessions and Senate Democratic Whip Dick Durbin, sent a letter to the Department of Homeland Security, Department of Labor and Department of Justice, asking them to investigate businesses, such as Southern California Edison, suspected of abusing work visa programs to avoid paying relatively high wages to American workers.SCE has reportedly been laying off hundreds of American workers and replacing them with foreign workers who hold an...
  • Ted Cruz Can’t Do What Glenn Beck Says

    03/31/2015 7:46:03 AM PDT · by ConservingFreedom · 40 replies
    Daily Caller ^ | 03/26/2015 | W. James Antle III
    Less than a week after leaving the Republican Party, Glenn Beck had something to say about how Ted Cruz should approach the primaries. Leave Scott Walker and Rand Paul alone. Otherwise, Beck warned, “we’re just going to end up with Jeb Bush.” (Bill O’Reilly was skeptical about Beck’s whole GOP-leaving business.) Cruz professed his admiration for Paul and Cruz, but didn’t quite commit to refrain from criticizing them. That’s because he can’t. The Republican presidential race can be split into the conservative primary and the establishment primary. Beck isn’t wrong that a divided conservative vote could benefit Bush, but there...
  • Ted Cruz, the presidential candidate who wants to increase the H-1B cap by 500%

    03/25/2015 10:01:45 AM PDT · by ConservingFreedom · 59 replies
    Computerworld ^ | Mar 23, 2015 | Patrick Thibodeau
    It's going to be hard for the Republicans to field a presidential candidate as enthusiastic about the H-1B visa as U.S. Sen. Ted Cruz (R-Texas). Cruz, who announced his presidential bid this morning, once proposed an immediate increase in the base H-1B cap from 65,000 to 325,000. Cruz offered the H-1B increase as an amendment in 2013 to the Senate's comprehensive immigration bill. [...] Cruz is part of large group of politicians who will not acknowledge the H-1B's visas use in offshore outsourcing or the reality of U.S. workers who are forced to train their visa-holding replacements. In defending this...
  • As Tech Giant Calls For More Foreign Workers, Senate Hears of Displaced Americans

    03/24/2015 5:24:29 AM PDT · by Kaslin · 105 replies
    Townhall.com ^ | March 24, 2015 | Byron York
    Eric Schmidt, CEO of Google, believes passionately that the United States needs more skilled foreign workers. He has long advocated increasing the number of so-called H-1B visas, which allow those workers to come to the U.S. for several years and, in many cases, work for lower wages than current employees. Schmidt is frustrated that Congress hasn't done as he and other tech moguls want. "In the long list of stupid policies of the U.S. government, I think our attitude toward immigration has got to be near the top," Schmidt said during a recent appearance at the American Enterprise Institute in...
  • The Real Problem With ‘Economic Development’ Programs

    03/05/2015 9:40:43 AM PST · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 3/4/2015 | Jarrett Skorup
    From 1995 to 2011, Michigan ran a program that granted special tax exemptions to chosen companies. The research on this program – the Michigan Economic Growth Authority – has been pretty consistent: It was a failure. The Mackinac Center did two studies on MEGA; a 2005 study showed that the few jobs “created” from the program were temporary and expensive and a 2009 study found that it had an overall negative impact on Michigan’s economy. The Michigan Office of the Auditor General has found repeated problems with state “economic development” programs over-promising and under-delivering. The Anderson Economic Group found a...
  • State Feeling the Heat for Corporate Welfare Deals Coming Home to Roost

    03/04/2015 11:23:36 AM PST · by MichCapCon · 6 replies
    Michigan Capitol Confidential ^ | 2/27/2015 | Jack Spencer
    Corporate welfare is causing major budgetary woes for the state of Michigan. The sum of refunds from unspecified tax credits handed out in the past is estimated to exceed $9 billion in the years to come. The credits were given through the Michigan Economic Development Corporation (MEDC) as incentives for businesses to create or retain jobs. Meanwhile, the agency continues to operate amidst complaints from lawmakers, reporters and others about its lack of transparency. An objective means of determining the benefits of the credits, as measured in the number of jobs produced or retained, has not been forthcoming, and the...
  • Opinion : Former US Congressman Makes Historic Visit to Iran

    02/12/2015 8:45:39 PM PST · by piasa · 30 replies
    Payvand Iran News ^ | February 12, 2015 | Barbara Slavin
    With little fanfare, another taboo in U.S.-Iran relations has shattered. Jim Slattery, a former six-term Democratic Congressman from Kansas, late last year became the first former or current American legislator to visit the Islamic Republic of Iran. In Tehran to attend a conference on countering violent extremism, Slattery encountered a largely friendly reception from both officials and ordinary Iranians and came back equipped to present a more realistic and upbeat depiction of Iranians than is usually found on Capitol Hill. Speaking Monday at the Atlantic Council in Washington, Slattery conceded that there are elements in Iran that still oppose any...
  • Gang of Six Unveils High-Tech Immigration Bill

    01/13/2015 12:52:51 PM PST · by C19fan · 76 replies
    National Review Online ^ | January 13, 2015 | Joel Gehrke
    A bipartisan group of six senators — including Senator Marco Rubio (R., Fla.), the Gang of Eight member mulling a run for president — released the first bipartisan immigration bill of the new Congress, in the form of legislation to expand high-tech visas and green cards for immigrants. “Our bill is a commonsense, bipartisan approach to help ensure that those who have come here to be educated in high-tech fields are able to stay with their families and contribute to the economy and our society,” said Senate Finance Committee chairman Orrin Hatch (R., Utah), who headed up the effort. “I’m...
  • Department Reorganization is New Wine in Old Skin

    01/07/2015 5:11:33 AM PST · by MichCapCon · 1 replies
    Michigan Capitol Confidential ^ | 1/5/2015 | Michael LaFaive
    There is nothing new under the public policy sun. Gov. Rick Snyder announced last week a government reorganization that will marry Michigan’s existing “economic growth and job training efforts under one department.” They’ve been married before and didn’t work well then either. The fact is, corporate welfare doesn’t work and no amount of reorganizing will make it so. Michigan had a similar system when economic development efforts and job training efforts were both run out of the Michigan Jobs Commission. Governor Engler split job and talent training up from economic development because he thought it would improve the state’s economic...
  • Corporate Welfare for Hollywood Comes First

    12/31/2014 7:10:15 AM PST · by MichCapCon · 2 replies
    Michigan Capitol Confidential ^ | 12/30/2014 | Jack Spencer
    Taxpayers in Michigan and across the nation are generous. They don’t mind welfare dollars being spent on the needs of the less fortunate; however, if the money were to end up being used to buy beer, cigarettes or lottery tickets, they would be justifiably outraged. With this year’s lame duck session drawing to a close, one striking feature stands out. While lawmakers wrestled over how best to get funding to fix up and keep up Michigan’s roads, legislation to perpetuate the state’s flop-filled film subsidy program shot through the Senate and House like a hot knife through butter. Make no...
  • Provision favoring big banks threatens passage of spending bill; Vitter joins Democrat to object

    12/11/2014 12:29:07 PM PST · by ConservingFreedom · 22 replies
    The Times-Picayune [La.] ^ | December 11, 2014 | Bruce Alpert
    WASHINGTON -- A last-minute addition to a giant spending bill that would ease a 2010 law that put restrictions on risky investments by banks after the 2008 economic crisis is threatening to derail the legislation. A House procedural vote on the $1.01 trillion spending bill for the 2015 fiscal year almost went down to defeat via a 213-213 tie, until a Republican House member reversed his no vote to allow deliberations on the measure to continue. The bill had lost Democratic votes because of opposition to the language that changes safeguards in the 2010 Dodd Frank Law. The provision scaling...
  • Job Churn Shows Futility of Corporate Welfare

    12/02/2014 7:10:03 AM PST · by MichCapCon
    Mackinac Center for Public Policy ^ | 12/1/2014 | James Hohman
    Monthly job reports on payroll employment and the unemployment rate hide the massive job creation and job loss that occurs in the economy. This turnover challenges the state’s ability to influence job creation by offering tax money to select businesses to locate their business in Michigan. According to the Bureau of Labor Statistics, Michigan’s private sector created 193,208 jobs in the first quarter of 2014 and lost 179,299 jobs in the same period. The job creation was caused by 40,862 existing businesses adding to their payroll plus the opening of 11,150 new business establishments. The losses were caused by 41,565...
  • Google billionaires request $539 million federal bailout after spending $1.6 billion of “stimulus”

    12/01/2014 3:36:05 AM PST · by grundle · 10 replies
    wordpress ^ | December 1, 2014 | Dan from Squirrel Hill
    Dan from Squirrel Hill's Blog Google billionaires request $539 million federal bailout after spending $1.6 billion of “stimulus” funding on failed solar power project Ivanpah is a solar power company owned by Google, BrightSource Energy, and NRG.In April 2011, as part of Obama’s “stimulus,” Obama gave Ivanpah a $1.6 billion loan guarantee to build a solar power plant.In November 2014, when the plant was up and running, it produced only half as much electricity as what Ivanpah had predicted.Ivanpah blamed this failure on “clouds,” and asked Obama for a $539 million bailout.Google is owned by Larry Page and Sergey Brin. At...
  • The Federal Raisin Ripoff -- Will The Court Or Congress Revoke This License To Steal?

    11/11/2014 10:11:23 AM PST · by reaganaut1 · 11 replies
    Forbes ^ | November 10, 2014 | George Leef
    Americans are still yoked to many policies that go back to the New Deal era, when it was the intellectual fashion to “fix” the economy’s ailments by substituting bureaucratic coercion for property rights and market competition. It didn’t work then and is just as bad today. In agriculture, the New Dealers’ idea was that prices were too low, but if the government could raise them, prosperity would return to the farming sector, which would then revitalize the rest of the country. That was the origin of the U.S. Department of Agriculture’s (USDA) numerous “marketing orders” and production quotas, some of...
  • The Moral Hazard of the Export-Import Bank - Privatized Profits & Socialized Risk

    10/01/2014 3:19:19 PM PDT · by Noremac
    Communities Digital News ^ | October 1, 2014 | Richard Cameron
    There are a lot of solid reasons why federal programs like the Export-Import (EX-IM) Bank, should be terminated. I cover the majority of those reasons in the report I just filed on Communities Digital News. http://www.commdiginews.com/business-2/moral-hazard-at-the-export-import-bank-private-gain-vs-social-risk-26916/ Issues like questions of proper management, potential for fraud related to insider influence, unintended consequences of disruption of domestic markets, risk related to the volatility of the world economy, are all among them. Those are legitimate concerns and have demonstrated themselves to be problems. Above them all, and foremost is the essential consideration of legitimacy. The Ex-Im bank was spawned in illicit circumstances. Most...
  • An Obamacare Test for Republicans [fight corporate welfare and crony capitalism]

    09/08/2014 5:31:47 AM PDT · by Cincinatus' Wife · 4 replies
    National Review ^ | September 8, 2014 | Editors
    Congressional Republicans keep saying they oppose Obamacare. Yet they’re refusing to take the simplest and easiest action against it. The way the law is designed, insurance companies get taxpayer subsidies if they incur big losses on the exchanges. That guarantee has encouraged them to participate in the exchanges. It has also enabled them to charge lower premiums, since they do not have to cover their risks. Republicans could force supporters of Obamacare to defend these taxpayer subsidies by advancing legislation to stop them, as Senator Marco Rubio (R., Fla.) and Representative Tim Griffin (R., Ark.) have proposed. But their colleagues...
  • 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...
  • Déjŕ 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.