Topics in the News: Corporate Welfare
Bill Richardson on Corporations
: Dec 13, 2007
Eliminate $73 billion in corporate welfare
There's $73 billion in corporate welfare that needs to be eliminated. I think we all have to sacrifice, the Congress, too, and that means eliminating congressional earmarks.
That means, also, having pay-as-you-go policies in our budget that, if somebody thinks of a new program or is going to cut a tax, we've got to make sure that it's paid for. That's what I would do as president.
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Source: 2007 Des Moines Register Democratic debate
Mike Huckabee on Social Security
: Oct 21, 2007
Personalization of retirement funds, not privatization
Q: What's your Social Security plan?A: The president had the right idea, but he used the wrong word. When he used the word privatization, it scared the daylights out of a lot of people.
Q: Well, he didn't. He used the word private accounts.
A: Well, but it scared the daylights out of people because they're thinking Enron and WorldCom, and that that's where their money would go. The right word is personalization. Empower individuals to have a greater say over their money.
And that's what it is. Keep the government from robbing the trust funds, which is something that, if it was done in the private sector, would get a guy in jail. One thing, when people reach retirement age, if they really have enough retirement benefits,
they don't need Social Security for the long term, give them the option of one-time buyout, or the opportunity to purchase an annuity, with their funds, tax-free, that frees up the long-term obligation of the government.
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Source: 2007 GOP primary debate in Orlando, Florida
Sam Brownback on Technology
: Oct 9, 2007
Cut the Advanced Technology Program; it's corporate welfare
Q: So name one program you would cut.A: Advanced Technology Program would be a good one to start with. It goes towards high-end spending, corporate welfare programs. There's an abundance of those.
That's why you got to change the system, so that it regularly requires a vote of Congress on things to cut. That's what'll actually reduce spending.
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Source: 2007 Republican debate in Dearborn, Michigan
Bill Richardson on Technology
: Aug 7, 2007
Partner on rail & smart growth; no privatized toll roads
Q: There is a push to sell toll roads to private companies. Can we really outsource it?A: No, privatization is not the answer. Here's one way that I believe we can finance our infrastructure. I would start out by the Congress eliminating the
$23 billion they put forth for congressional earmarks. I would also ensure that corporate welfare--$73 billion worth--is eliminated as a way to reduce the debt. But we have to invest in our power grid. We have to invest in our bridges, in our highways.
I was able to do that as governor of New Mexico--$1.5 billion worth of highway construction to repair our bridges, to repair our highways, to bring commuter rail--we have to start thinking about new infrastructure in America. We have to start thinking
about making sure we have strong land use policies, smart growth. The government should be a partner with the states and localities in building commuter rail, light rail, new forms of transportation besides repairing our highways and our bridges.
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Source: 2007 AFL-CIO Democratic primary forum
Hillary Clinton on Corporations
: Jun 20, 2007
Enough with corporate welfare; enough with golden parachutes
Let's finally do something about the growing economic inequality that is tearing our country apart. The top 1% of our households hold 22% of our nation's wealth. That is the highest concentration of wealth in a very small number of people since 1929. So
let's close that gap. Let's start holding corporate America responsible, make them pay their fair share again. Enough with the corporate welfare. Enough with the golden parachutes. And enough with the tax incentives for companies to shift jobs overseas.
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Source: Take Back America 2007 Conference
John Edwards on Corporations
: Oct 6, 2004
FactCheck: Halliburton fined for actions while Cheney CEO
EDWARDS: While Cheney was CEO of Halliburton, they paid millions of dollars in fines for providing false information on their company, just like Enron and Ken Lay. They did business with Libya and Iran, two sworn enemies of the US. They're now under
investigation for having bribed foreign officials during that period of time.FACT CHECK: Edwards made several allegations about what Cheney had done as CEO of Halliburton. We can only give Edwards partial credit for his Halliburton attack, however.
He implied that Cheney was in charge of the company when it did business with Libya in violation of US sanctions, but that happened long before Cheney joined the company. Edwards was also slightly off when he said Halliburton paid millions in fines "
while Cheney was CEO." He meant that it paid fines for matters that took place while Cheney was in charge. And in fact, the SEC announced Aug. 3 that Halliburton will pay $7.5 million to settle a matter that dates back to 1998, when Cheney was CEO.
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Source: Edwards-Cheney debate analysis by FactCheck.org
John Edwards on Principles & Values
: Oct 5, 2004
Halliburton got a $7.5 billion no-bid contract in Iraq
EDWARDS: I mentioned Halliburton in connection with the $87 billion. This is relevant, because he was pushing for lifting sanctions when he was CEO of Halliburton. Here's why we didn't think Halliburton should have a no-bid contract. While he was CEO of
Halliburton, they paid millions of dollars in fines for providing false information on their company, just like Enron & Ken Lay. They did business with Libya and Iran, two sworn enemies of the US. They're now under investigation for having bribed foreign
officials during that period of time. Not only that, they've gotten a $7.5 billion no-bid contract in Iraq, and instead of part of their money being withheld, which is the way it's normally done, because they're under investigation, they've continued to
get their money.CHENEY: The reason they keep mentioning Halliburton is because they're trying to throw up a smokescreen. They know the charges are false. If you go to factcheck.com, you can get the specific details with respect to Halliburton.
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Source: Edwards-Cheney debate: 2004 Vice Presidential
Dennis Kucinich on Social Security
: Aug 1, 2003
Double standard between employers & employees must end
One major theme [in Enron & Global Crossing scandals] - there are two sets of rules; executives get one set of rules and their employees have to play under a different set of rules.
Employees have barriers to information, fewer options, more restrictions on investment, and no guaranteed returns. The most egregious disparity is that during a bankruptcy, executive pension plans are totally protected from creditors.
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Source: Campaign website, www.Kucinich.us, "On The Issues"
Dennis Kucinich on Principles & Values
: Aug 1, 2003
Sacrificed political career to save city utility ownership
Kucinich was elected mayor on a promise that he would not sell off or privatize the beloved and trusted city-owned power system, though Cleveland was deeply in debt. By holding to his campaign promise and putting principle above politics,
he lost his re-election bid and his political career was derailed. But today Kucinich stands vindicated for having confronted the Enron of his day, and for saving the municipal power company.
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Source: Campaign website, www.Kucinich.us, "On The Issues"
Dennis Kucinich on Corporations
: May 3, 2003
Cleveland's bankruptcy was hard decision but right decision
Q: The one time you had executive responsibility, as mayor of Cleveland, the city went bankrupt. Some will say that you'll do for America what you did for Cleveland. KUCINICH: In Cleveland, that default ends up being a badge of honor for me,
because I stood up for the people of Cleveland against a takeover of our municipal electric system by a utility monopoly. Now imagine a president who's willing to stand up to the Enrons of America. Imagine a president who's willing to stand up to the
monopolies in energy and in health care and in transportation and communication. Imagine a president who comes from the cities and will fight for working men and women and will fight for the poor. I have every expectation that I'll be the next president
of the United States because when the test came, I put my career on the line to save a municipal electric system for the people of Cleveland. And today people of Cleveland know that I did the right thing. And soon America will know that as well.
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Source: Democratic Debate in Columbia SC
Dennis Kucinich on Corporations
: May 25, 2002
Enron: Dems should become party of re-regulation
This predatory [deregulated electricity] system must be set aside. The only way to ensure that Enron does not happen again is for government at all levels to reclaim the role as regulator in the public interest, to restructure electric rates to
protect residents and small businesses, to enact windfall profit taxes, and to finance the construction of municipal power systems. The Democratic Party must become the party of re-regulation, of public control, of public accountability, of public power.
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Source: Speech to DNC, in Prayer for America, p. 26-27
John McCain on Jobs
: Aug 4, 1999
End sugar subsidy; it hurts consumers & helps only tycoons
The sugar program has resulted in US consumers paying three times the current world price for sugar. Defenders of the sugar program claim that it is critical to the viability of our domestic sugar industry. A close examination of this program reveals
that its true benefits are only realized by big sugar tycoons. Only by political clout has this corporate welfare program survived. I believe we should end the subsidies to the sugar industry and eliminate the sugar program that is unfair to consumers.
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Source: Press Release: “Halt Sugar Subsidies”
John McCain on Government Reform
: Aug 4, 1999
End sugar subsidy; corporate welfare at its worst
Continuing his effort to end federal handouts to special interest groups, McCain today [proposed to end] programs that benefit the sugar industry estimated to cost taxpayers over $130 million a year. From McCain’s floor statement: “The federal government
is burdened with an unnecessary and unprofitable loan program for big sugar producers and enforcing mandated import quotas on foreign sugar. The sugar program is big government and corporate welfare at its worst.”
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Source: Press Release: “Halt Sugar Subsidies”