CronyChronicles.org released a new video aimed at shedding light on the vast amounts of money the U.S. government spends in taxpayer handouts to corporations every year.
The video, entitled “Miracle on Wall Street,” depicts a young girl and her mother passing a Santa Claus collecting money for charity in an iconic red bucket on the street.
They then pass a man in a suit with a similar bucket asking, “Donation for my bailout?”
The video concludes with a call to end corporate welfare.
According to the Cato Institute, the U.S. will spend close to $100 billion subsidizing businesses, corporations, and industry organizations in 2012, which they say “induces firms to spend more time on lobbying rather than on making better products” and “transfers wealth from average taxpaying households to favored firms.”
The organization who produced the video pointed out that $100 billion is more than this year’s combined profits of Ford, Apple, Microsoft, Target, Home Depot, Best Buy, Coca Cola and PepsiCo.