Conservatives Are Right: Welfare DOES Destroy Incentive and Create Laziness
Corporate welfare that is.
A recent study has concluded what most of us already knew: Corporate tax breaks and subsidies cause the recipients to become complacent, lazy and unproductive.
Jeff Zebo, in charge of this study, said:
“Most of them [tax-dodging CEOs] spend an inordinate amount of time hobnobbing in lavish resorts and playing Candy Crush on corporate jets.”
Exhibit A: Bank of America CEO Brian Moynihan. Bank of America has received over $1 trillion (no, that wasn't a typo) in bailout money and paid ZERO taxes in 2010. Jeff Zebo said:
“Has this made Moynihan motivated? No — the man can barely pay attention on the job. And he sleeps all the time — employees sometimes stumble into his office and find him face down on the desk mumbling about things like milk shakes and Aruba.”
But, he's a Job Creator!!!
Exhibit B: Goldman Sachs CEO Lloyd Blankfein. Goldman Sachs — aka the Vampire Squid, as Matt Taibbi calls them — is the second largest recipient of corporate welfare and also paid zero taxes in 2010. In return for such taxpayer largesse, Lloyd Blankfein contributes, uhh...
“He sits around his mansion most days eating chips, drinking Belgian beer and taking conference calls in a bathrobe while secretly playing Call of Duty. And when he's forced to leave his house, it's clear he just wants back on his couch.”
Jeff Zebo's solution?
“Take away their corporate welfare. Unlike the poor, they don't need it. And they'd actually be more productive as a result.”