7 Rip-Offs Corporations and the Wealthy Don't Want You to Know About

[xchrom]

http://www.alternet.org/media/7-rip-offs-corporations-and-wealthy-dont-want-you-know-about



***SNIP

1. Corporations Profit from Food Stamps

It's odd to think about billion-dollar financial institutions objecting to cuts in the SNAP program, but some of them are administrators of the program, collecting fees from a benefit meant for children and other needy Americans, and enjoying subsidies of state tax money for services that could be performed by the states themselves. They want more people on food stamps, not less. Three corporations have cornered the market: JP Morgan, Xerox, and eFunds Corp.

***SNIP

2. Crash the Economy, Get Your Money Back. Die with a Student Loan, Stay in Debt.

The financial industry has manipulated the bankruptcy laws to ensure that high-risk derivatives, which devastated the market in 2008, have FIRST CLAIM over savings deposit insurance, pension funds, and everything else.

***SNIP

3. Almost 70% of Corporations Are Not Required to Pay ANY Federal Taxes

And that's even before tax avoidance kicks in. The 'nontaxable' designation exempts 69% of U.S. corporations from taxes, thus sparing them the expense of hiring tax lawyers to contrive tax avoidance strategies.

***SNIP

4. Lotteries Pay for Corporate Tax Avoidance

This means revenue comes from the poorest residents of a community rather than from billion-dollar corporations. Many of the lottery players don't realize how bad the odds are. Fill out $2 tickets for 12 hours a day for 50 years and you'll have half a chance of winning.

[Recursion]

1. Also, re #1: food stamps are a hidden farm and food processing subsidy

That's why (until this year) food stamps have been part of the farm bill.

[Laelth]

2. k&r for the truth, however depressing it may be. n/t

-Laelth

[ReRe]

3. K&R

for exposure and in case you need a reason to bang your head against the nearest wall for some unknown reason.

[BlueJazz]

4. These 7 things are going to be exposed on CBS 60 MINUTES next Sunday.

Signed:
BlueJazz: Morning Glory Insane Asylum

[LisaLynne]

5. LOL

You guys get the BEST drugs there.

[mountain grammy]

6. Really? 60 Minutes? It'll be interesting to see the right wing slant on this one.

Guess I might have to watch for the first time in a few years.

[47of74]

7. K&R