It’s been said if you want to run a program in the most inefficient way, turn it over to the government. We like to say we believe in a free market and free enterprise, but virtually every industry in its infancy has depended on government help to get it off the ground, and some have never been removed from the government teet. Big business learned long ago to refuse to take on the risk of new technologies and ideas without some help from the government…
A quick list…
Many industries receive government subsidies, including:
-Agriculture- The US government heavily subsidizes the agricultural sector with cash payments, loans, and insurance. -Energy- The government provides grants to companies developing energy sources, issues bonds for power facilities, and imposes tariffs on biofuels.
-Transportation- The government provides cash payments, infrastructure funding, and tax incentives to transportation companies.
-Electric vehicles- In 2023, the electric vehicle and battery production industry was the most heavily subsidized. -Pharmaceuticals- The US pharmaceutical industry has benefited from federal support for life sciences research. -Fisheries- Well-targeted subsidies can help ensure the health of fish stocks and ecosystems.
Other industries that have been subsidized include:
housing, mining, tobacco, steel, alcohol, weapons, and textiles.
Governments subsidize industries based on national priorities and politics.The level of subsidization that nations tolerate varies based on their political leanings
Riding OB1, 23 4- door Outer Banks, SAS, MOD, MIC, Lux, Ordered 10/20/22, delivered 1/13/23