Issue link: http://digital.copcomm.com/i/309120
52 CINEMONTAGE / MAY-JUN 14 shows, a full "three-quarters of all the economic development dollars awarded and disclosed by state and local governments have gone to just 965 large corporations" — not to small businesses and startups that bring a tear to the eyes of fiscal conservatives. According to the study, $110 billion was given to big companies. Some $63 billion went to Fortune 500 firms that received more than 16,000 subsidies. Ironically, many who receive such subsidies are still portrayed as free-market paragons. Some of the biggest subsidies go to companies like Boeing, which received 137 subsidies worth $13.2 billion; Alcoa, which was given 91 subsidies worth $5.6 billion; and Royal Dutch Shell and Nike, which got 66 and 23 subsidies, respectively, worth just over $2 billion a piece. Boeing and Nike are notorious for their efforts to force down wages. Big tech firms, often fawned over as self-made success stories, are also among the biggest recipients of these subsidies. Intel leads the tech pack with 58 subsidies worth $3.8 billion, writes Sirota. Next up is IBM, which has received more than $1 billion in subsidies. Most of that is from New York — a state proudly promoting its corporate handouts in its current ad campaign. Then there's Google's $632 million, Apple's $446 million and Yahoo's $260 million. Notable among these recipients are Charles and David Koch. Their company, Koch Industries, has relied on a relatively modest $88 million worth of taxpayer handouts. Yet, as the major financiers of the anti- government right, the Kochs are still touted as free-market activists. Clearly, such largesse would be condemned if it went to the poor. But because the funds are going to wealthy, politically connected conglomerates, they are greeted with cheery euphemisms like "incentives" or "economic development," adds Sirota. To make matters worse, the euphemisms persist even though many subsidies do not create new jobs. In the case of Boeing, its subsidies merely ensure that fewer well-paid jobs are outsourced. Bearing that in mind, the Good Jobs First report reframes the conventional political rhetoric about dependency, punitively aimed at the poor. Unlike the big corporations that receive over $100 billion in subsidies, the poor and working poor don't have legions of lobbyists that make sure programs like unemployment insurance and food stamps and other forms of economic stimulus are lauded in the glowing language reserved for their betters. But as the report illustrates, "If we are going to have an honest conversation about dependency and free markets, then the billions of public dollars flowing to politically connected companies needs to be part of the discussion," concludes Sirota. f We're Here, For You Healthcare / Wellness / Aid & Services Senior Care / Residential Retirement 855-760-MPTF (6783) www.mptf.com For over 90 years, MPTF has been helping Hollywood take care of its own. Together, we ensure that the magic we create isn't just on screen. Find out more at MPTF.com LABOR MAT TERS CineMontage_May-Jun_14-3.indd 52 4/15/14 2:59 PM