A new piece at the Library of Economics and Liberty written by Robert J. Bradley is a timely reminder that it’s often government policies that fosters bad corporate behavior—not the “free market” as the left likes to claim.
My new paper, “Corporate Welfare in the Federal Budget,” estimates that the federal government spends almost $100 billion a year subsidizing businesses.
My colleague Chris Edwards testified before the House Budget Committee this morning on “Removing the Barriers to Free Enterprise and Economic Growth.” The first half of Chris’s testimony focused on the problems with corporate welfare spending, which costs taxpayers almost $100 billion annually and is the topic of my forthcoming study.
I have previously discussed how multiple levels of government work together to provide businesses with taxpayer money (see here and here). And while Republican policymakers have enjoyed making political hay out of the Obama’s administration’s Solyndra problem, the truth is that both parties are willing partners in the corporate welfare racket.