Ten Examples of Welfare for Corporations and the Ultra-Rich

[Bill USA]

this article originally appeared on HuffPo ... but if you don't want to wait for HuffPo to load, Moyers site is quicker....


http://billmoyers.com/2014/01/16/ten-examples-of-welfare-for-corporations-and-the-ultra-rich/

There are thousands of tax breaks and subsidies for the rich and corporations provided by federal, state and local governments, but these 10 will give a taste.

1. State and local subsidies to corporations: An excellent New York Times study by Louise Story calculated that state and local government provide at least $80 billion in subsidies to corporations. Over 48 big corporations received over $100 million each. GM was the biggest, at a total of $1.7 billion extracted from 16 different states, but Shell, Ford and Chrysler all received over $1 billion each. Amazon, Microsoft, Prudential, Boeing and casino companies in Colorado and New Jersey received well over $200 million each.

2. Direct federal subsidies to corporations: The Cato Institute estimates that federal subsidies to corporations cost taxpayers almost $100 billion every year.

3. Federal tax breaks for corporations: The tax code gives corporations special tax breaks that have 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.
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[daleanime]

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