Terry Branstad joined the Tea Party with his reelection. It is apparent that his relentless effort to scale back government has a hidden agenda—not to keep public spending under control, but to move state dollars from the pockets of state workers to big business.
A recent Des Moines Editorial, “Corporate Welfare Run Amok,” cited a litany of egregious examples of state tax giveaways to companies worth hundreds of millions of dollars. 186 Iowa companies received Research Activities Credits totaling over $42 million in 2015.
“The vast majority of this money isn’t going to small start-ups but to larger, highly profitable companies that already spend millions on research as a cost of doing business,” the editorial stated.
The top three: Rockwell Collins who reported $686 million in profits, Deere & Co which posted $1.9 billion in profits and DuPont who claimed $2 billion in profits. Kraft Heinz received $4.74 million as a reward for eliminating 475 out of its 1,400 workers at a bologna plant in Davenport. Gosh, now Terry is funding big business to cut jobs too!