Delaware taxpayers are once again being asked to close their collective minds and open their collective wallets. Another grotesque giveaway to another wealthy corporation has been proposed. Instigated, orchestrated, and supported by the Chamber of Commerce, the Business Roundtable, Delaware’s State Department, the Administration, and a vast number of corporate shills that occupy the General Assembly, we are once again being cajoled to give millions of dollars to a profitable company under the guise of economic development.
In the past 9 years, these corporate welfare policies have cost the Delaware taxpayers well over $250 million, most of which was funneled into the coffers the richest corporations in the world. There has been little to no economic development or sustainable job growth resulting from this corporate extortion racket. This number does not include the more than $80 million forfeited to wealthy corporations with the recent passage of the so-called Delaware Competes Act and Delaware Commitment to Innovation Act.
The similarities in some of these arrangements often show an utter disregard for economic prudence and justice. The recent Sallie Mae request for more than $2 million in taxpayer funds connotes an attitude of entitlement and greed which is reinforced when we consider the recent report of over $70 million in 2nd quarter earnings declared by Sallie Mae. This causes me to reflect on the $10 million requested and granted to JP Morgan Inc. after they just declared nearly $24 billion in revenue. These are not isolated incidents but rather common occurrences resulting from Delaware’s policies of unbounded enthusiasm to finance corporate welfare.
When you reflect on the actual economic circumstances challenging Delaware’s residents and taxpayers in this year alone, such as almost $30 million in cuts to public education or the elimination of the $2.5 million “Pharmaceutical Assistance Program” which served the neediest elderly and disabled citizens of Delaware (forcing them to choose between life-saving medications or life-giving food), no one should cast blind eye on such economic cruelty.
Historically, there has been a certain consistency to the course plotted for Delaware’s economy. It seems to willfully avoid the needs of its citizens and small business community and instead focus almost entirely on ensuring a robust investment in the wealthier corporate world. Sadly such an investment of taxpayer money seldom results in any significant job growth or return on investment. The Bloom project is a prime example of government wasteful spending on private, special interests.
And what is the public’s responsibility to stop this madness, you might ask? The public must express a collective outrage and convey it to every elected official in the Delaware. If their voices are loud and persistent but are still ignored then it is the humane obligation of the public to replace every one of those legislators and elected (regardless of party) with new people who are responsible to the needs of the people and not to some corporatist culture or ideology.
I’m outraged and have been every step of the way for my entire 6 terms in office. I’ve expressed it publicly, criticized it in the media and on my Facebook site and begged and cajoled my colleagues and the three Governors I’ve served under to cease and desist. It’s time for the public to step up and be outraged. When you became aware that $70 million in taxpayer money was spent on roads and egress to the AstraZeneca site to enhance its sellable price-tag tenfold, in addition to $40 million more in tax credits and grants, where was the outrage? It’s been reported on in the major media sites and I’ve written extensively about this state’s corporate welfare (including Astra-Zeneca, JPMorgan, Dupont, Chemours) policies apparently to a deaf, dumb, and blind constituency.
Bring the outrage, please, bring it.