"One healthy development to emerge from the generally poisonous debt-ceiling debate is that some Republicans have come to embrace the phrase “corporate welfare.”
Corporate welfare is a pejorative term for subsidies and tax breaks that the government gives to private companies. For a while, it seemed as if the Republicans might agree to raise some revenue by ending some of these deductions and not calling it a tax increase.
They’ve since changed their minds, but their bout of reasonableness marked an important change.
A friendlier term for corporate welfare is “industrial policy.” They aren’t exactly the same thing, but they’re close. Industrial policy means a conscious government decision to help certain industries -- through subsidies, protectionism, exemptions from regulations (such as antitrust) and so on -- and not to help other industries"................READ MORE
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