Wednesday, March 18, 2015

The Export-Import Bank's Hidden Tax on America's Companies | Cato Institute

The Export-Import Bank's Hidden Tax on America's Companies | Cato Institute: "Despite the Bank’s claims that it primarily serves small and medium enterprises and that it provides financing for transactions that the private sector won’t service, in 2013 about 75 percent of Ex-Im largesse was dispensed to the benefit of ten large, creditworthy companies"



"Ex-Im’s transactions benefit two parties: the U.S. exporter and the foreign customer. And, accordingly, those transactions tax two sets of parties: the U.S. competitors of the lucky U.S. exporter (the intra-industry cost) and the U.S. competitors of the lucky foreign customer (the downstream industry cost)."

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