elektra
Platinum Member
Except Boeing pays taxes and is not selling "tax credits".One day green energy might just be more efficient.
You know planes? They were rubbish. What could you do with a plane? Not much. What was the point? They were high inefficient. Same with cars, only rich people had cars, why? Because they cost too much to run. But if you could afford it, they were great play things. The roads were rubbish too, you wouldn't drive LA to NY in one of those.
Absolutely. And I hope one day that is true. But the government has no business betting on winning and losers in the private market. They pass legislation with the express purpose of trying to put some industries out of business and then spend hundreds of billions subsidizing other industries that can't survive on their own. It's absurd.
But then they do. They do it for defense contractors all the time, you know, by declaring war on countries it has no reason to declare war on, by making enemies so that the country requires more defense spending etc etc. And the right don't have a problem with that one most of the time.
Oh come on....if we're going to discuss this, you have to be a grown up and act like one. Nobody is "declaring war" on countries for "no reason" simply to subsidize anything. You're being completely and totally disingenuous and you know it. Be a big boy and have an adult conversation. Don't resort to mamooth immaturity.
Defense contractors are not subsidized nor have they ever been. They are contracted with because defense is the Constitutional responsibility of the United States and the single most important function of government.
Okay, they're not declaring war for no reason. They're declaring war for unethical reasons, and in order to reduce oil prices in order to make the economy go better and their friends get richer.
No, defense contractors are not subsidized. I lied, I made it all up, I'm a fucking idiot.
Oh, except for companies like Boeing and Lockheed. They get subsidies
How Big Contractors Mooch on Federal Subsidies
"Some of the government’s largest contractors like Boeing and Lockheed Martin, which rake in billions of federal dollars each year, are also receiving tax credits, bailouts and federal grants—all at the taxpayers’ expense. "
Boeing got $457 million, Lockheed $331 million.
Boeing also has $64 billion (yes, billion) in either Federal loans, Federal loan guarantees, or bail out assistance.
Government Subsidies to Private Military R&D Investment: DOD's IR&D Policy
This is from a while back, seems nothing has changed.
"I estimated the amount of private R&D investment devoted to winning the "prizes" offered by the Pentagon, and
found it to be subatantial"
http://object.cato.org/sites/cato.org/files/pubs/pdf/pa350.pdf
"In fact, during FY96, the government spent more than $7.9 billion to help U.S. companies secure just over $12 billion in new international arms sales agreements."
But then I wasn't even talking about this "corporate welfare", I was merely talking about defense spending. If the US needs more weapons because the threat is larger, then companies like Boeing and Lockheed will stand to gain a lot of money. Companies like Halliburton (you know, the one the VP didn't have shares in, but DID have a deal to buy back his shares at the same price when he left office?) almost make a ton of money.
Because you see, when defense spending goes UP, defense contractors make more money.
The Cold war ended, and the US spends more than ever. Bush pushed defense spending really high.
Halliburton's shares from 2002 to 2005. Wow, who'd have expected their share price to rise so high when there's war on?
Boeing's share prices. At a low in 2003, rose massively until 2008. Who'd have thunked it?
Lockheed were also doing well at this time. What a surprise.
Green Energy receives a tax credit they can sell for millions in profits. Boeing does not receive that kind of direct subsidy, Very very different things.
General Electric, yep, we pointed out that under the Obama administration GE was paying zero in tax, while benefiting from making components for Green Energy.