Effect of subsidies for big business

“The thousand largest companies (USA) which use 80 per cent of the investment-tax credit, and well over half of industrial energy, created only 75000 new jobs in eight years. The other six million businesses created 9.5 million jobs … Because of subsidies to energy and capital, we have consistently disadvantaged labour and reduced the number of jobs available. We have made capital less expensive and labour more expensive, creating unemployment.”

-Senator Edward Kennedy 16/3/1978  (Noted 20/4/1978)

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