Considering the power corporations wield over the economy — choosing when to relocate jobs and where to stash offshore accounts — we shouldn’t be surprised that cities across the country are offering massive giveaways in hopes of attracting one of the world’s largest tech companies.

Mayors in forty-three states, along with Washington, D.C., and Puerto Rico, want Amazon to build its new North American headquarters in their own urban enclaves, so they’re ready to give the company billions of dollars in tax credits and other incentives. Stonecrest, an Atlanta suburb, even offered to rename itself Amazon and appoint CEO Jeff Bezos as “mayor for life.”

These taxpayer-funded subsidies for highly profitable corporations are known as “corporate welfare.” Studies show that state and local governments give away $80 billion to corporations every year, while federal subsidies cost taxpayers at least $100 billion annually. This comes on top of hundreds of billions of dollars in tax breaks, mortgage deductions, and other handouts. It all adds up to a free market that costs the public a fortune.