- Why are we giving and risking taxpayer wealth with foreign companies, let them buy American goods with their own money or their governments’ own money.
- Contrary to what Export-Import fans say, most of the money and loans go to supporting very large American companies such a GE, Boeing, etc. We should let those companies’ stockholders finance purchases of their companies' products, not taxpayers since it is the stockholders that will see any advantage of doing so, not the taxpayer.
- Giving U.S. taxpayer-backed loans to foreign companies to purchase American products disadvantages American companies that compete with those foreign companies since domestic companies cannot get Export-Import loans.
- Apparently, the bank has given a $650 million, U.S. taxpayer backed loan to the richest woman in Australia.
- Gina Rinehart owns Roy HIll mining in Australia and is also the richest woman in that country. Despite that wealth status, the Export-Import bank loaned her company $650 million to purchase equipment made by GE and Caterpillar.
- But a U.S.mining company, Cliff’s Natural Resources, an American company that competes with Roy HIll, does not get any financial support and taxpayer backed plans from the Export-Import bank, putting it at a competitive disadvantage.
- The loan also disadvantages the U.S. domestic steel industry since Roy HIll sends a lot of its mined ore to China which turns it into steel which impacts worod wide steel prices.
- The ripoffs included receiving improper and fraudulent payments.
- The fraud amounted to $18.3 million in just four states, New Jersey, Michigan, Florida, and Arizona.
- About 8,600 Medicaid beneficiaries had improperly collected benefits from more than one state.
- 200 dead Medicaid beneficiaries had received upwards of $9.6 million AFTER they had died.
- Economists Dennis Coates and Brad Humphreys: "Our conclusion, and that of nearly all academic economists studying this issue, is that professional sports generally have little, if any, positive effect on a city's economy."
- Economist Ray Keating: "The lone beneficiaries of sports subsidies are team owners and players."
- Examiner article: “One reason is the substitution effect: Milwaukeeans who have a basketball team will spend less money on other types of leisure. The money spent in and around the fancy new arena wouldn't have just sat under mattresses.”
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