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What Obama calls ‘corporate welfare’ isn’t really corporate welfare

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President Obama tonight said he wants to end “corporate welfare.” Then he spoke about three policy areas that are pretty far from corporate welfare. First, he spoke about “oil subsidies.” There are some oil subsidies in federal law, and Obama is correct that they should be ended. But most of the “oil subsidies” Obama points to are broad-based tax deductions that oil companies also happen to...

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