Federal Corporate Welfare is double Social Welfare

Discussion in 'Too Hot for Swamp Gas' started by channingcrowderhungry, Nov 24, 2013.

  1. channingcrowderhungry
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    channingcrowderhungry Well-Known Member

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  2. philnotfil
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    The poor obviously don't spend enough on lobbyists.
  3. G8trGr8t
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    G8trGr8t Premium Member

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    it would be much better for small businesses and for the future of the country if DC had less control over the economy so they could not favor any one company over another and if the gubmnt forced more people to be responsible for their own choices. flat tax, less money to the feds, lifetime cap on social benefits
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  4. QGator2414
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    This!
  5. OklahomaGator
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    OklahomaGator Jedi Moderator VIP Member

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    The difference between social and corporate welfare is that social welfare will benefit one individual or family. Corporate welfare typically will be used to create jobs or better the economy of the area. Tax breaks to build a new business will employ people that pay taxes and should be a positive for the economy. Yes, there are abuses of both but there is little return to the public coffers from social welfare ( and there shouldn't be for the truly needy).
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  6. GT Gator
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    The link has to be one of the most ridiculous exaggerations I have ever seen.

    First, they claim that $92 Billion in corporate welfare. But, if you follow the link, it shows that "Corporate Welfare" include tax breaks for corporations. Forcing a company to pay less taxes on their income is hardly "welfare." Also consider that the U.S. remains the highest in the industrialized world.

    Next, they claim that we only spend $59 Billion on "traditional social welfare program." Where the fvck did they get that silly number from? If you look at the link they included, it links to a Cato Institute describing spending on housing subsidies.

    What's the real number of Federal spending on "traditional social welfare programs?" Try $746 Billion. Here's the report from the Senate: http://www.budget.senate.gov/republ...?File_id=0f87b42d-f182-4b3d-8ae2-fa8ac8a8edad

    So, even if we did use the $92 Billion mentioned in the article, the Feds still spend 8 times more on "traditional social welfare programs" than they do on "Corporate Welfare."
  7. fredsanford
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    fredsanford VIP Member

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    If companies get "special tax breaks" due to some lobbyist-written law that other companies don't get, it is corporate welfare.

    With companies recording record profits yet hiring no one, these breaks are not going to jobs or the community, they are just going to corporate officer bonuses.

    Heads they win, tails they break even. That's the new big business model in the U.S.
  8. GT Gator
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    GT Gator Well-Known Member

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    I actually agree with you. The special tax breaks are way too high and too frequent. They should eliminate most and just drop the corporate tax rate -- make it more like a flat tax for corporation.

    The Feds should also get out of the business of providing subsidizing (see the Farm Bill and/or Ethanol) and providing loan guarantees (see Fisker Motors or Solyndra).

    With all that being said, there is still not comparison whatsoever between "Corporate Welfare" and regular social welfare here in the U.S. as implied by the really silly OP. Regardless of how you slice it we're spending FAR more money on the poor than we are on corporations.
  9. OklahomaGator
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    Either get rid of the corporate taxes or get rid of the dividend taxes, the income gets double taxed. Getting rid of the corporate tax then lets you get rid of the tax credits.
  10. gatorman_07732
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    You want a progressive taxing system, this is what happens. Change the taxing system or just keep moaning.
  11. 108
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    id like to see a breakdown of what corporate welfare "typically" gets used on rather then just assume it
  12. OklahomaGator
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    I know in our case we have received tax credits for purchase of new equipment. So the credit was used to offset the cost of the new equipment. In our last expansion we received some state income tax credits for the creation of new jobs. So those credits were "used" to lower the cost of the expansion.
  13. QGator2414
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    Kind of like the child tax credit that those get with children that make under a certain income...
  14. oaklandroadie
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    I would really like to get a solid definition of the word "welfare." It is apparent that many liberals feel that any monies one or a group are "allowed" to keep rather than is taken as taxation is "welfare."
  15. GT Gator
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    You mean things like mortgage-interest-deduction welfare or 401k-tax-deferral welfare?
  16. philnotfil
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    philnotfil Well-Known Member

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    According to the article they looked at welfare paying for food and shelter:
    I'm not sure why they used the combined federal and state TANF number. The federal portion of that is around $20 billion.
  17. icequeen
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    icequeen Well-Known Member

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    Well put. There's too much of both, but one helps get money and jobs back into the economic cycle. The other has become almost a "career" for some folks on it.
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  18. philnotfil
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    Corporate welfare increases supply. Social welfare increases demand. Which one is more important to the economy?
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  19. Bushmaster
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    Bushmaster Well-Known Member

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    A poorly written article about corporate welfare and doesn't provide a single example of it. I should no longer be surprised by this nonsense.

    Most of the oil company tax breaks come in the form of accelerated amortization of oil wells. Its not welfare, its timing. The tax gets paid. Corporate welfare should be defined as getting government money for free, or taking tax deductions you didn't pay for. Outside of farmers, I can't think of anyone who gets government money and doesn't provide something in return, except welfare people.
  20. QGator2414
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    Exactly!

    I am surprised the libs don't hammer their doctor for taking accelerated depreciation on the latest technology used to treat them. The doctor gets to expense everything this year and nothing in the following if they choose. Or they can choose to take it over a few years.

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