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)

This entry was posted in Uncategorized and tagged , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s