Ten Examples of Welfare for the Rich and Corporations

[ashling]

http://truth-out.org/buzzflash/commentary/item/18416-ten-examples-welfare-for-rich-and-corporations

Two: Direct Federal Subsidies to Corporations. The Cato Institute estimates that federal subsidies to corporations costs taxpayers almost $100 billion every year.

Three: Federal Tax Breaks for Corporations. The tax code gives corporations special tax breaks which reduced what is supposed to be a 35 percent tax rate to an actual tax rate of 13 percent, saving these corporations an additional $200 billion annually, according to the US Government Accountability Office.

Four: Federal Tax Breaks for Wealthy Hedge Fund Managers. Special tax breaks for hedge fund managers allow them to pay only 15% rate while the people they earned the money for usually pay 35% rate. This is the break where the multimillionaire manager pays less of a percentage in taxes than her secretary. The National Priorities Project estimates this costs taxpayers $83 billion annually and 68% of those who receive this special tax break earn more than $462,500 per year (the top one percent of earners).

Five: Subsidy to Fast Food Industry. Research by the University of Illinois and UC Berkeley documents that taxpayers pay about $243 billion each year in indirect subsidies to the fast food industry because they pay wages so low that taxpayers must put up $243 billion to pay for public benefits for their workers.

[pansypoo53219]

1. the 2% vampires took over in 1980 w/ reagan.