The best replacement for corporate welfare is social welfare.

The best alternatives to corporate welfare are rated as following:
★★★★★  social welfare
★★  welfare
★★  individual welfare
★  public welfare
★  welfare for the poor
  social programs
  personal welfare
  entitlements
  corporate welfare
  human welfare
  regular welfare
  food stamps
  private welfare

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No companions for corporate welfare have been suggested so far.
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Google Trends

Scale is based on the average worldwide traffic of corporate welfare in all years. Click on graph for more.
corporate welfare
social welfare
welfare