Hagan's Corporate Welfare Comes Back to Bite Taxpayers on the Buttocks

From the campaign of Christopher Cole for US Senate

News reports (such as http://tinyurl.com/6efuez) came out before the weekend describing plans by Dell Computers to sell some inefficient US manufacturing plants, including one in Winston-Salem attracted with almost $300 million in state incentives. Reuters explains that the plant is outdated, after only THREE years.

One might reasonably ask, who is responsible for this outrageous waste of taxpayer resources? According to the website of the NC General Assembly (http://tinyurl.com/5gutvz), the proposal began with state Senators Hoyle, Purcell, Clodfelter, Dorsett, Garrou, and current Democrat candidate for the US Senate, Kay Hagan.

As do all Libertarians, US Senate nominee Christopher Cole opposes so-called "economic incentives", more properly referred to as "corporate welfare", as an immoral tax on citizens to benefit corporate profits. In addition to the moral issue, Dell's cut-and-run with Hagan's complicity clearly demonstrate the uselessness of such incentives.

Corporate welfare cannot produce economic development. Rather, it props up inefficient businesses at taxpayer expense. By promoting inefficient businesses over self-sufficient, consumer-preferred competitors, such government-corporate hybrids actually reduce longterm economic growth. In other words, the development and jobs claimed for such projects are actually just snake-oil promotions.

As a supporter of laissez-faire capitalism over corporatism, only Libertarian Christopher Cole advocates letting taxpayers keep their own money, because they can be trusted to support the best companies in the market. Something which cannot be said of Democrat Kay Hagan.

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Christopher “Chris” Cole is the Libertarian nominee for US Senator from North Carolina. To learn more about Chris, visit his campaign website.