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South Central Iowa | DW11 and ToOld mentioned oil. I did leave it out because it is often mentioned in the media and you guys brought up some points about it as well. Those subsidies are much smaller than those for the equity and housing markets though. There are others as well, the subsidization of the university industry through pell grants and subsidized student loans which leads to institutional enlargement, degree inflation, and the replacement in society of intelligence with credentialism. The renewable energy industry is heavily subsidized as well; tax breaks for electric vehicles, wind tax credits for power companies, more onerous regulations on coal and natural gas plants to make them more costly, etc. The defense industry is just one enormous subsidy for our heavy industry. One could argue that it is because of national security, which of course it is, but you could also argue that our food supply is of vital national security.
We are not close to the only subsidized industry, and we really are not close to the most subsidized at all. | |
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The Real Subsidy
