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FBN’s Gerri Willis on Americans’ tax dollars going to grants and subsidies for corporations.
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Well everybody needs a little help now -- them right.
Consider the case of a retail are intent on occupying one of the most high profile space is New York City the balcony.
A grand -- -- central station where tens of thousands of commuters pass through -- each and every day.
That retailer wanted a little help from taxpayers to make it happen two million dollars to reimburse it for the money -- spent getting the previous tenant to leave.
Who with every Taylor well the retailer is apple.
A company makes two million dollars every eight minutes a company with a 110 billion dollars in cash on the book.
A -- it has a market cap over 547.
Billion dollars which makes it.
The biggest company in the world more than the entire economy of some we -- A company that -- rake in hundreds of millions of dollars annually just at that single location.
Now the good news is that -- effort to get the money from taxpayers it didn't work.
The bad news -- is other companies are way way more successful.
You think the abuse of Medicaid and food stamps is bad corporate welfare in the federal budget cost taxpayers almost a hundred billion dollars a year.
Indirect subsidies tax breaks all kinds of creative loan programs.
So does the money gets paid back sometimes it doesn't.
You've heard us talk about the department of energy's pale green energy program remember -- lender -- But that's the tip of the iceberg.
According to a new study from the Cato Institute take a look at these other government programs offering -- hand.
To companies.
There's the Michigan brewer they get to 220000.
Dollar grant that's a block grant to its planned its -- brewery from the Department of Housing and Urban Development.
The farm subsidies that go to large corporations and celebrities like Bon Jovi fifteen -- How -- -- By the way some of these subsidies continue long after the land is no longer even used for farming.
Then there's the wineries they get marketing grants from the Department of Agriculture.
Since -- should tax dollars go for wine ads.
Oh how this money is -- used a new study shows subsidies to promote the expansion -- -- and that's Internet services in the world areas.
Tends to go to areas where there's already service.
You get the point.
But I have to share this example with -- one company managed to -- nearly four billion in financing from a bunch of federal bureaucracies.
The export import bank the US trade and development agencies and sell on and so on.
And -- the coming -- became the poster child for accounting fraud the company that.
At the time with the biggest corporate bankruptcy ever the company whose collapse cents to 41 people to prison.
So not only -- his company's sucking up as many taxpayer dollars as they can.
But the government isn't too good at figuring out who deserves the don't either if we take the cleaver to entitlement programs -- these programs she.
