Corporate Welfare Bum

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Corporate Welfare Bum

Highly derogatory; an executive or company taking money from the public treasury through subsidies, large contracts or other means. The term connotes an individual or company that enriches itself without contributing to the development of an economy or creating jobs to any significant extent.
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3) The state is also active in fuelling capitalist markets, most notably through investment in the military/industrial complex, and in direct subsidies to private enterprise -- "the corporate welfare bums.
See his book, Louder Voices: The Corporate Welfare Bums (Toronto 1972).