corporate welfare

Friday Movie Night - A Collection of Outrage

Tonight's Friday Night Video is a collection of news and interview clips that need to be seen to be believed.  The first is a report from NBC Rock Center on how people are getting their identities stolen and then ripped off.  If that wasn't bad enough, identity thieves are filing bogus tax returns and collecting the refunds

Congress Ushers in 2013 with a Resolution to Push the Economy to the Brink

capital buildingPast the final hour the House finally passed a bill to avert the fiscal cliff. The Senate had passed the legislation in the wee hours of New Years Day and after much brew ha-ha the House allowed an up and down vote on the Senate bill. We have listened to months and months of squabbling, bringing the economy to the brink over a very simple final result that could have been passed months ago.

Stupid Corporate Welfare Tricks

corp welfareGood Jobs First has released a new study which shows most state's corporate tax incentives and subsidies don't work to create jobs and pay living wages. Corporations are getting subsidies and tax breaks and instead of requirements to support the State's labor force, 43% of these subsidies are glorified corporate welfare. State corporate subsidies cost $11 billion a year and $7 billion worth of them do not require job creation and living wages. From the report, Job Creation and Job Quality Standards in State Economic Development Subsidy Programs:

  • Fewer than half (98) of the 238 programs impose a wage requirement on subsidized employers, and only 53 of those wage standards are tied to labor market rates, which are a more effective benchmark for economic development than fixed amounts that can stagnate in the manner of the federal minimum wage.
  • Only 11 of the wage requirements serve to raise overall wage levels by mandating rates that are somewhat above existing market averages for the geographic area or industry sector.
  • Wage requirements, which can be found in 42 states, vary enormously—from just above the federal minimum wage to more than $40 an hour in certain circumstances for a handful of programs. Using the lower end for those with ranges, the average of the hourly wage requirements is $14.76; the median is $11.82.