Corporate Welfare Absurdity
This small news bite from the Washington Post yesterday caught my eye:
Moving costs: Booz Allen Hamilton, the McLean, Va., consulting and government contracting giant, is receiving a $750,000 loan from a Maryland economic development fund and a grant of $250,000 from Montgomery County to relocate 750 Maryland workers from offices in Rockville to a new 65,000-square-foot workplace in Bethesda by the end of 2019.
This strikes me as absurd.
The economy is growing strongly, and yet one of the highest-income states is dishing out “economic development” subsidies to a big, profitable company in one of the nation’s wealthiest counties. The move is entirely in-county, so officials can’t even claim they are attracting new jobs to the area.
Booz Allen Hamilton lives high on the hog from government contracts, receiving about $4 billion a year. It is a true Beltway Bandit, ranking as one of the largest federal contractors, and gaining almost all of its growing revenues from governments. One of the great things about the government as a client is that you can make tens of millions of dollars even when projects fail.
Why would Maryland and Montgomery County want to fatten Booz Allen’s bottom line with subsidies to cover its routine expenses? Are they going to pay moving expenses for every local business, or is the idea to give this Beltway Behemoth an advantage over smaller firms with less lobbying power?
Shame on Maryland officials for wasting taxpayer money, and shame on Booz Allen for taking it.
Source: https://www.cato.org/blog/corporate-welfare-absurdity
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).