The Commercial Airplane Corporation, Boeing, announced job cuts for 2016 are likely to reduce the company s workforce by ten percent, roughly 8,000 jobs lost, according to Seattle Times. The company cited operating and labor costs as the reason for the job cuts, but that is inexcusable given the company received $8.7 billion in government subsidies and tax breaks in 2013 for building the 777x in the’state of Washington. The company has already eliminated 9,000 jobs in the region since 2012.Boeing epitomizes how the economy is rigged to favor corporations and the wealthy. Boeing is assisted by the government to increase production and built new operations, and in return the government does not receive any share of the profits. In the company s efforts to increase profits, the workers and their families carry the burden. There is no accountability or terms of conditions for companies like Boeing who receive government handouts. This is corporate socialism.Robert Reich told Rolling Stone in an interview this past October about the building blocks of capitalism,  every one of these building blocks has been altered over the last 30 years by very powerful money interests who have succeeded in changing these building blocks so that they improve the finances and enhance the profits of big companies   Wall Street and the very wealthy   but make most other people worse off. He added in the interview a free market cannot exist without government setting the rules, but the government has been setting the rules to favor wealthy corporations who have been insulating themselves from the competitive market.What we have seen in the past few decades, and has worsened in the wake of the Citizens United SCOTUS ruling, is corporate and wealthy influences have pushed for government to set the rules in their favor so they can maximize their profits while the working and middle classes in this country. Politicians now have to worry more about who is going to fund them or their opponent in an election, leaving little to no time to focus on what is actually best for the public interest.Featured Image via Flickr
Your task is to classify the provided input as real or fake news. Label 0 is meant for fake news, Label 1 is for real news. TEXT: The Commercial Airplane Corporation, Boeing, announced job cuts for 2016 are likely to reduce the company s workforce by ten percent, roughly 8,000 jobs lost, according to Seattle Times. The company cited operating and labor costs as the reason for the job cuts, but that is inexcusable given the company received $8.7 billion in government subsidies and tax breaks in 2013 for building the 777x in the’state of Washington. The company has already eliminated 9,000 jobs in the region since 2012.Boeing epitomizes how the economy is rigged to favor corporations and the wealthy. Boeing is assisted by the government to increase production and built new operations, and in return the government does not receive any share of the profits. In the company s efforts to increase profits, the workers and their families carry the burden. There is no accountability or terms of conditions for companies like Boeing who receive government handouts. This is corporate socialism.Robert Reich told Rolling Stone in an interview this past October about the building blocks of capitalism,  every one of these building blocks has been altered over the last 30 years by very powerful money interests who have succeeded in changing these building blocks so that they improve the finances and enhance the profits of big companies   Wall Street and the very wealthy   but make most other people worse off. He added in the interview a free market cannot exist without government setting the rules, but the government has been setting the rules to favor wealthy corporations who have been insulating themselves from the competitive market.What we have seen in the past few decades, and has worsened in the wake of the Citizens United SCOTUS ruling, is corporate and wealthy influences have pushed for government to set the rules in their favor so they can maximize their profits while the working and middle classes in this country. Politicians now have to worry more about who is going to fund them or their opponent in an election, leaving little to no time to focus on what is actually best for the public interest.Featured Image via Flickr