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Simple English definitions for legal terms
corporate welfare
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A quick definition of corporate welfare:
Corporate welfare is when the government gives money to big companies to help them out. This is like when your parents give you money to buy something you really want. It's a way to help the company be successful, but some people think it's not fair because smaller companies don't get the same help.
A more thorough explanation:
Corporate welfare refers to the financial assistance provided by the government to large companies in the form of subsidies. This assistance is given to help these companies prosper and grow.
- A government provides a tax break to a large corporation to encourage them to build a new factory in their city.
- A government provides a grant to a company to develop a new technology that will benefit the economy.
These examples illustrate how the government provides financial assistance to large companies to help them succeed. This assistance is often controversial because some people believe that it is unfair to give money to large corporations when there are individuals and small businesses that also need help.