Pulitzer Prize-winning tax reporter David Cay Johnston, a columnist for Reuters and frequent guest on The Last Word, has a new piece detailing corporate welfare funded by state taxpayers — and often taken straight out of employees’ paychecks without their knowledge. As David explains, it’s a great illustration of all-American corporate socialism:
These deals typify corporate socialism, in which business gains are privatized and costs socialized. They also mean government picks winners and losers, interfering with competitive markets. Leaders in both parties embrace these giveaways because they draw campaign donations from corporate interests and votes from people who do not understand that they are subsidizing huge companies.
Read the whole article here.