Draining The Swamp – Part X – Crony Capitalism

Breitbart has an interesting article on its website today:

NFL Unhappy with Tax Reform Proposals that Cut Billions in Sports Stadium Subsidies

The proposed reforms would “eliminate the big tax breaks cities and states receive on money borrowed to build stadiums meant to entice or prevent sports franchises from moving to another city”.

Duh! This is a no-brainer for me. Why should the government give a subsidy to ANY business? The giving of a subsidy is not what the government in a free market economy should be doing. Period. A free market should be just that, a free market, not a subsidized market.

If the NFL, or any sports franchise, can pay the players multi-million dollar salaries and still make good profits, it doesn’t need a subsidy, nor should ANY business get a subsidy. The free market is about providing a product, or service, to the public that the public is willing to pay for. It’s called a mutually beneficial trade! If you make shoes that I think are good, and priced right, I will buy them. Plain and simple. Why should I, as a taxpayer, be forced to subsidize those shoes?

By the same token, why should I, the taxpayer, subsidize any business? If they provide the products or services I want, at prices I am willing to pay, then I will buy what they offer, if I need, or want, it. That is basic economics. That is the free market.

Crony Capitalism is the favoring of a given company, or industry, by giving them subsidies, monopoly status, or even some form of preferred status, which harms the competitive status of those competing with “preferred” businesses. It is the giving of preferential treatment, which harms all competitors. The government then dictates the winners and losers.

Benito Mussolini called his brand of fascism, Crony Capitalism.

Who gets hurt by Crony Capitalism? The little guys and the new startups, who are competing with subsidized businesses.

We don’t have a free market in the USA. We have a Crony Capitalist market, as there are subsidies given to many businesses that prevent the entry of new companies into a given market, or that protect and perpetuate certain large businesses at the expense of the little guy.

Do you want a free market? End the subsidies and regulations that discourage the little guy and the entry of new companies who want to compete but are faced with prohibitive hurdles.

Comments

  1. sabwafare 8 November, 2017, 15:52

    That’s right !!! Crony Capitalism really needs to go. It has hurt our economy way too long. These huge acquisitions and mergers are another thing that hurt competition. Like AT&T wanting to purchase Time Warner. Way too much power for one organization.

    Reply this comment
    • Bo 8 November, 2017, 17:42

      Don’t forget those health insurance companies that wanted to take over the market by merging together!
      The government actually did what it was supposed to do – protect the citizens!,

      Reply this comment
  2. MikeD_1957 8 November, 2017, 16:00

    Also stop the NFL from operating as a tax free entity. These clowns pay zero $0.00 taxes.

    Reply this comment
  3. cctusbob 8 November, 2017, 16:39

    Your article is right on! Congress should take a lesson from the story Representative Davy Crockett told Congress when they were voting a gift to another member’s widow. If we eliminated all the unconstitutional expenditures from out budget, there could be humongous tax cut and/or debt reduction payments. But that would never happen. Just like now, everyone is clamoring for simplification of the tax code, but they all want special deductions that they can use to reduce their taxes. Crony capitalism seems to be solidly entrenched in Congress and even in the Departments, despite what the politicians say.

    Reply this comment
  4. WILLIAM 8 November, 2017, 20:03

    SAY THE DAM WORDS +++ COMMUNISM ## WE ARE UNDER COMMUNIST CONTROL ## THE SECOND AMENDMENT IS THERE FOR A REASON ?????????????????????????????????????

    Reply this comment
  5. Iraq66vet 15 November, 2017, 10:13

    Here! Here! Thank you!!! That is the difference between capitalism and Fascism

    Reply this comment

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