If these are such profitable investments, let the private companies that profit from them finance them. Cut free from the subsidy, the better programs would continue and the failures would quickly disappear. To put the cost of subsidies in perspective, if all federal assistance to business were purged from the budget, the federal budget deficit would be cut substantially. In addition, if Congress were to eliminate all those corporate spending subsidies, enough savings would be generated to entirely eliminate the capital gains tax and the federal estate tax. Eliminating anti-growth taxes would do far more to benefit American businesses and U.S. global competitiveness than having Congress pick industrial winners and losers.
Government has no business deciding which companies are worthy of advertising funds.
The government ought not be taking tax money from companies to finance the advertising of their competition, which is the direct result of redistribution. Our amendment to eliminate Market Access Program enjoys support from across the philosophical spectrum. Everyone from the Progressive Policy Institute and the Friends of the Earth to the Cato Institute and the Citizens Against Government Waste agree corporate welfare must be eliminated. The best place to start is by cutting the funding of government-subsidized advertising. If we are truly committed to balancing the budget and downsizing the federal government, we must be willing to attack corporate welfare and take companies like Tyson Foods off the public dole.