JP Morgan Chase & Co. will receive over $750 million dollars in rent subsidies from New York City and state authorities as an incentive to relocate its offices from Midtown Manhattan to ground zero.
In 2005, Goldman Sachs got $650 million in subsidies for a similar move.
Gee, a trillion here, a trillion there, and pretty soon you’re talking real money. And that’s a trillion that won’t be spent on the people of New York City, but rather on the already super-wealthy.
Clearly, the US already has socialism. But right now, it’s just for the wealthy. We need it for everyone.
Capitalism has always grown fat on tax payers money, by tax breaks, tax avoidance, plus local and central government subsides. They spew venom at the mere sound of the word “socialism” but work a social system between themselves and the state, of course at our expense. The more this is made public, perhaps the more the people will come to realise the rip-off.