John Oliver Is Here to Tell You Why Tax Incentives for Corporations Are Dumb and BadImage via HBO/YouTube Comedy Video john oliver
Last Week Tonight is here once again to tell you why something that America does is stupid, and this time, it’s government-sponsored tax breaks incentivizing corporations to set up operations in their state.
John Oliver has a bone to pick with the idea that these tax incentives stimulate the economy. The core concept is that letting corporations pay dramatically reduced taxes will create jobs in local communities and result in sustained economic development, but Oliver says the data shows that’s not actually the case. Oliver says that several states get back less than 10 percent of the money they lose by giving these tax breaks.
To illustrate this point, Oliver employs a colorful metaphor involving giving several people Ferraris and then burning money, and then he shows how that would actually save the state money when compared to the tax incentives program.
He also makes a joke about Donald Trump having erectile dysfunction and gets in a couple of solid burns at the expense of the show Entourage, an activity that should always be encouraged. Watch the segment above.