Abstract
This article describes and quantifies the major types of federal subsidies to American businesses. These subsidies, although they do not strictly conform to conventional definitions of welfare, are important policies that directly affect more traditional welfare programs. Representing a federal expenditure in excess of $150 billion a year, the policies responsible for this “phantom welfare state” represent a major redistribution of wealth that partially accounts for the growing gap between the rich and the poor. Additionally, these programs also compete with more traditional welfare programs for scarce federal dollars. The implications of these “phantom welfare” programs for the traditional welfare state are discussed.
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