Subsidies, bailouts, tax exemptions and special tax loopholes, have one thing in common - they are the manna that keep politicians in office by serving the interests of their corporate benefactors to the detriment of the common taxpayer. In other words, they facilitate corporate welfare.
This corporate welfare creates an unfair playing field, where businesses succeed or fail based on their political connections, instead of the value they create for customers. Taxpayers are often left footing the bill and holding the bag.
Corporate interests use the political system to advantage themselves and disadvantage competitors and the general public. Many are made to serve the interests of a few.
Various commissions, boards, and authorities dole out tax breaks to corporations in the guise of economic development while the common taxpayer picks up the tab. Government has been picking winners and losers in this fashion for a long time. It’s time to end corporate welfare, and allow businesses to thrive or fail based on merit!