• Kay Hagan’s CRAPITALISM “Worst Than We Thought”

    Last week Daily Surge told you about career CRAPITALIST Kay Hagan’s successful efforts to steer $390,000 stimulus dollars to a company co-owned by her husband and son, JDC Manufacturing. Today, The Carolina Journal revealed that the North Carolina Senator’s crony efforts may be “worse than we thought.”

    From a report filed early Saturday by WRAL-TV news, we have confirmation that a cluster of businesses owned by Democratic U.S. Sen. Kay Hagan’s husband and other family members collected even more subsidies from taxpayers than initially reported. While Carolina Journal’s Don Carrington has highlighted a stimulus grant totaling $250,644 that was paid to JDC Manufacturing, a real estate business co-owned by Hagan’s husband, Chip, and his brothers John and David, WRAL confirmed that JDC received an additional $137,000 in energy tax credits from the project. (Some of the relevant documents are here.) …

    Add a second federal renewable energy grant of $50,000 from the U.S. Department of Agriculture to the ledger, and we learn that Hagan businesses soaked taxpayers for nearly $450,000 to pay for energy upgrades installed at JDC’s 300,000-square-foot building in Reidsville.

    JDC, a company co-owned by the three Hagan brothers, applied for and received $250,644 in stimulus dollars to install more efficient lighting and furnaces and place solar panels at its building. JDC leases the building to Plastic Revolutions, a recycling company also owned by … Hagan family members. Once the project was completed, Plastic Revolutions said it expected to save $100,000 in energy costs annually. That’s a benefit it would not have received without the upgrades, which were made possible by federal taxpayers.

    Moreover, JDC wound up with a more valuable asset: a modern, energy-efficient manufacturing facility that would bring a higher price if it sold, and a more inviting location for potential new tenants. And, of course, JDC received $137,000 in tax credits — again resulting from the stimulus grant.

    It is October. But Kay Hagan’s corrupt schemes are no surprise. As Daily Surge publisher Jason Mattera warns in his new book CRAPITALISM, Hagan’s is but one of many examples of how politicians claim to look out for the little guy but really focus on finding ways to force taxpayers to subsidize their lavish lifestyles.

    The news surrounding Kay Hagan today is about how she skipped out on a debate last night with her opponent Thom Tillis.

    Hagan probably skipped out on the debate because she didn’t want to face questions about why one week after she recommended a North Carolina judge for a seat in the U.S. District Court, that same judge ruled in favor of a million dollar deal for a company partially owned by her husband.

    The video clip above shows a Freedom Partners Action Fund political ad that highlights how Hagan’s husband’s company funneled stimulus funds to companies owned by Hagan family members.

    Jerome Hudson

    Managing Editor

    Jerome Hudson has written for numerous national outlets, including The Hill, National Review, and The Atlanta Journal-Constitution and was recognized as one of Florida’s emerging stars, having been included in the list “25 Under 30: Florida’s Rising Young Political Class.” Hudson is a Savannah, Ga. native who currently resides in Florida.

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