"Here’s a breakdown of the most superfluous giveaways to the rich and how much they cost the rest of us:
1. Tax Breaks for obscene CEO bonuses ($7 billion/year).
2. Tax cuts for luxury corporate jets ($300 million/year).
3. Big oil subsidies ($37.5 billion/year).
4. Pharmaceutical subsidies ($270 billion/year).
5. Capital gains tax breaks ($51 billion/year).
6. Corporate tax subsidies from state and local governments ($80.4 billion/year)
7. Handouts to Big Ag ($18 billion/year)
Crop insurance .
Crop insurance .
8. Welfare for Wall Street ($83 billion/year).
9. Export-Import bank subsidies ($112 billion)
10. Federal contracts for the top 200 biggest companies ($880 billion/year)
The combined cost of these 10 corporate welfare programs is $1.539 trillion per year. The three main programs needy families depend upon — Temporary Assistance for Needy Families ($17.3 billion), food stamps ($74 billion), and the Earned Income Tax Credit ($67.2 billion) — cost just $158.5 billion in total. This means we spend ten times as much on corporate welfare and handouts to the top 1 percent than we do on welfare for working families struggling to make ends meet"
No comments:
Post a Comment