View Full Version : Corporate Welfare Fails Taxpayers and Small Businesses

12-17-2014, 12:34 PM
In recent years, the public’s awareness of crony capitalism, whereby government picks winners and losers, has increased tremendously. This is a good thing for advocates of free markets, because no market can be free where politicians use the power and largesse of government to benefit the well-connected.

Unfortunately, many see the federal government’s favoritism towards companies like Solyndra and assume that Washington D.C. is where the problem begins and ends. In truth, the problem is just as bad in Texas, particularly at the local level.

Every year, Texas cities spend untold sums on corporate welfare under the guise of “economic development.”Worse, they’re often spending it to “compete” against other Texas cities.