Intelligence Squared Debate: Eliminate Corporate Subsidies

The auto industry, agriculture, the energy sector. What do they have in common? These industries benefit from government subsidies in the form of loans, tax breaks, regulation, and other preferences. Critics from the left and right say that not only do these subsidies transfer wealth from taxpayers to corporations, they distort the markets and our economy. Proponents say that government has an important role to play in launching innovation via strategic investment, and its support helps American companies thrive. Do we need subsidies, or is this corporate welfare?
Interview:
http://intelligencesquaredus.org/debates/past-debates/item/1495-eliminate-corporate-subsidies