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Politics : American Presidential Politics and foreign affairs
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To: greatplains_guy who wrote (70310)4/30/2014 12:44:11 PM
From: DuckTapeSunroof  Read Replies (1) of 71588
 
"corn ethanol mandate will continue. It is corporate welfare."

I agree completely. (Except about the 'continue' part... eventually they will be broken up.)

Not only that... I have ALWAYS agreed with that (dating from back *before* they even put the programs into place).

Worse even than just being corporate welfare is that it is bad economic policy on it's face (reduces potential growth more than it boosts it at the Macro level) and it is bad environment policy (worsens environmental conditions more than it benefits them) and it is bad business policy (it turns investment dollars away from productive economic activity and towards narrow rent-seeking and tax benefit paper shuffling) and it is even bad energy policy (in that the food-to-fuel-ethanol cycle wastes more energy than it provides).

Worst thing a government can do (economically speaking) is to tilt the economic playing field away from free market incentives and towards whatever vested interests the government currently favors with twisted tax expenditures and loopholes and special interest favors.

Incenting business to structure their activities to seek out tax benefits instead of productive economic activities actually levies an Opportunity Cost on the nation as a whole... it DEPRESSES the potential for economic growth below what it otherwise could be.

Our current tax codes are an example of decades of such destructive and counter-productive sludge accumulating.
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