Saturday, May 14, 2011

Words of the Weasel Part XVII

Subsidy. Sen Chuckie Schumer uses subsidy where he should say "tax break". There is a difference. A subsidy is a cash payment from Uncle Sam to a favored industry. It can be spent, on inventory, wages, rent, tooling. It's real money. A tax break is different. It only pays off after the industry makes money. You cannot buy stuff with a tax break, you have to earn real money first.
Of course Chuckie knows this, he uses subsidy because it sounds worse. He's manufacturing a sound bite.

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