I enjoy capitalism and capitalism via trading because it gives you almost immediate feedback as to your success or failure – there is no need to wait a round to see how things went. The one thing that does give me a chronic case of the squirts is corporate welfare, we have already had the domestic example of Gerry Harvey et al sooking in public because they hadn’t realised it was the 21st century and people don’t have to buy everything in the world from them. The acting like a girlie man in public is bad enough but asking for government intervention on the matter is beyond the pale.
A quick search of the googlebox found the following example of corporate welfare domestically. The Productivity Commission shows a figure of about $14.4 billion in corporate dole bludging for the year 2005-06. Handouts to industry included included $40 million to Visy Industries, $70 million to Syntroleum Corporation and $137 million to Comalco. Comalco then received a further $150 million from the Queensland government. To put this into perspective Comalco’s parent company is Rio Tinto which raked in a 49.6 billion in the year of these handouts.
However, as is common with Americans they do it bigger and better, this brilliant graphic from Buzzfeed shows how corporate sponging should really be done.