We often hear how damaging welfare dependency is, stifling initiative and corroding the human soul. So I worry about the way we coddle executives in their suites.
A study released Thursday says that for each dollar America’s 50 biggest companies paid in federal taxes between 2008 and 2014, they received $27 back in federal loans, loan guarantees and bailouts.
Goodness! What will that do to their character? Won’t that sap their initiative?
The study was compiled by Oxfam America and it comes on top of a mountain of evidence from international agencies and economic journals underscoring the degree to which major companies have rigged the tax code.
John Oliver has a point when he says, “If you want to do something evil, put it inside something boring.” The beneficiaries of tax distortions are counting on you to fall asleep, but this is a topic as important as it is dry.