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Time to end corporate subsidies

March 13, 2012 by Editor

 

Reduced spending, less regulations, and the free market are mainstays of many politicians. Eliminating programs that aren’t beneficial is logical. Unfortunately, many politicians are limited in their agenda for cuts. Education, health care, and environmental protections are frequent targets .

In Ravalli County some rail against government and regulations. I was surprised to learn that between 1995-2010 some Ravalli county residents received a total of 3,515,000 dollars in federal subsidies. Type in “EWG 2011 Farm Subsidy Data Base” search around, and you’ll probably recognize a few local names, including a few local politicians. I haven’t heard much anti-government rhetoric to eliminate those subsidies.

Some believe corporations are over regulated and if left alone will solve economic problems. It’s been proven many times, however, that industry needs regulations. Putting profits over citizen’s health, environmental concerns, or sticking it to the taxpayer have become common for many corporations. Oil and gas industry – contaminated wells to oil spills, how many catastrophes are needed? Wall Street and finance – how many taxpayers need their life savings destroyed before strict laws/enforcement are the norm? Timber/mining industry – examples of clear cuts, degraded streams, species loss and habitat destruction fill volumes of scientific literature. Pharmaceutical companies – should we really trust pharmaceutical companies to always put consumer health over corporate profits? Health insurance industry – many live in fear of a health related financial crisis. Medical bankruptcy is the number one reason for personal bankruptcy.

Ironically some politicians who enjoy taxpayer/government sponsored health care also rail against government health care for the common citizen. This list could go on.

The truth is corporations often put profits over the good of the common American and a healthy environment. Regulations on these industries protect U.S. citizens and promote predictable, long term economic stability.

It’s often a David vs. Goliath battle. Farmers and ranchers in Wyoming are battling the natural gas industry over fracking and polluted well waters. Not many politicians have enough courage to stand up to corporations. Why should they when they get so much money from them?

I’m not anti-corporation or anti-government. Both have power to do good for our country. Reducing some regulations could be great, but have enough in place to ensure the health, safety, and well being of the citizens. Have penalties stiff enough to make corporations think twice before putting profits over the environment and people.

Let’s keep regulations in place and end subsidies to corporations. If the free market is the answer, they should survive on their own without taxpayer handouts. Eliminating subsidies would reduce spending and let a true free market work.

Gary Milner

Corvallis

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Filed Under: Opinion

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