Corporate parasites: how taxpayers subsidize profits (with Rana Foroohar and David Dayen)

Every company you can think of has benefitted from a public investment. Whether it’s direct handouts through the tax code, government research efforts, or employee reliance on programs like EITC or TANF, taxpayers are subsidizing wildly profitable companies. David Dayen, the executive editor of The American Prospect, and Financial Times associate editor Rana Foroohar join Nick and Zach to explain how we let corporate parasites get so out of control—and what we can do about it.

News clips credit: CNBC, KING 5, NPR, Democracy Now!

Rana Foroohar is Global Business Columnist and an Associate Editor at the Financial Times. She is also CNN’s global economic analyst. She is the author of Makers and Takers: The Rise of Finance and the Fall of American Business and Don’t Be Evil: How Big Tech Betrayed Its Founding Principles and All of Us.

Twitter: @RanaForoohar / @FT / @CNN

David Dayen is the executive editor of The American Prospect. His work has appeared in The Intercept, The New Republic, HuffPost, The Washington Post, the Los Angeles Times, and more. His is the author of Chain of Title: How Three Ordinary Americans Uncovered Wall Street’s Great Foreclosure Fraud.

Twitter: @ddayen / @theprospect

Further reading:

Confronting the parasite economy: https://prospect.org/labor/confronting-parasite-economy/

Makers and Takers: https://www.ranaforoohar.com/makersandtakers

How to Cure Corporate America’s Selfishness: https://newrepublic.com/article/150695/cure-corporate-americas-selfishness

Website: http://pitchforkeconomics.com/ Twitter: @PitchforkEcon Instagram: @pitchforkeconomics Nick’s twitter: @NickHanauer