What is Corporate Wellbeing?

Corporate pensions refer to tax incentives, subsidies and other financial favors granted to companies by the federal government.

Corporate welfare can be broadly defined as any assistance provided by a government that gives a private company an advantage over others. In the United States, corporate welfare refers to any number of favors, costing billions of dollars each year, bestowed upon corporations by the federal government. It includes, but is not limited to, tax breaks, direct subsidies to businesses, and various other forms of favorable special treatment.

Most corporate advantages have to do with tax breaks, such as lower tax rates or, in some cases, the ability to pass on income to shareholders without the company being taxed.

As with other forms of wellness, many individuals and groups are opposed to the concept. One of the main controversies regarding corporate pensions is the fact that, like other pension programs, it is unconstitutional at the federal level. The Constitution does not provide authority for Congress to redistribute money raised through taxes in an effort to subsidize businesses or individuals. In fact, Congress’ buying power is specifically detailed and limited.

While entitlement programs ostensibly designed to help families or individuals are often described as “leveling the playing field,” those who support public assistance rarely apply this position to corporate welfare. In fact, it is as imprecise about corporate welfare as it is about other entitlement programs.

Corporate welfare is accused of not leveling the playing field at all, but of providing distinct advantages to selected sectors or companies at the expense of other businesses and, often, consumers. Not only that, but the cost is astronomical, and the taxpayer doesn’t have a say in which companies are sustained. To make matters worse, some say the government seems to be choosing blindly when determining which sectors or businesses will get a return on this huge investment.

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Corporate wellness is not always recognizable in its various forms. Along with cash ransoms, cash is also provided to pay for research and development, insurance, or subsidized loans. The favors also include acts of protectionism, protecting only certain American industries or businesses from foreign competition. This, of course, stifles free trade, limits other businesses, and means Americans generally pay more for goods and services.

Many people believe that corporate welfare also breeds corruption. It seems that often those who make the biggest campaign contributions receive the biggest windfall. In addition to monetary issues, certain industries sometimes have greater lobbying power when it comes to legislation. Can you think of any industry that managed to persuade the government that the purchase of your product or service should be mandatory? If so, you’ve just discovered another form of corporate wellness.

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