It's one thing this particular type of corporate welfare (meant to be "temporary") got started under the Grandpa Reagan regime... it's another thing that Obama keep it going.. forever apparently.
Obama is looking more and more like an ideal Republican president with every passing day. The Washington Post reports that the Administration is on the verge of giving companies like Dow Chemical, Boeing, and Lockheed Martin hundreds of millions in tax breaks, which drops directly to their bottom line.
The concession involves research and development tax credits. They were launched under President Reagan in 1981, intended to be a temporary program, out of concern that the US was falling behind Japan in innovation. The problem with this scheme is that it frequently winds up subsidizing activities that companies would have engaged in anyhow. And notice how it did nothing to stop the dismemberment of great corporate research efforts like Bell Labs.
I get that companies
need to do R & D to develop new, profitable products, but
WHY do we the sappy taxpayers have to
subsidize them?
and BTW, just how much serious R & D is being done these days by these major corporations?
WHAT is the benefit to the taxpayers??
http://www.nakedcapitalism.com/...