10 Taxpayer Handouts to the Super Rich That Will Make Your Blood Boil

[KamaAina]

http://usuncut.com/class-war/10-corporate-welfare-programs-that-will-make-your-blood-boil/

The next time you hear someone complain about how the poor get “all this free stuff,” show them this.

A small number of incredibly wealthy Americans are ridiculing Bernie Sanders’ base for wanting “free stuff” when the costliest programs are, by far, corporate welfare and entitlements for the top 1 percent. Fox News has been working hard to tear down Sanders’ proposals to provide Medicare for all, institute tuition-free public college, boost infrastructure spending, and expand Social Security.

“That’s not fiscally possible unless the federal government starts seizing private assets,” said Bill O’Reilly.

But O’Reilly is wrong. The money for Sanders’ platform can easily come from eliminating the costliest entitlement programs for the top 1 percent and multinational corporations. Here’s a breakdown of the most superfluous giveaways to the rich and how much they cost the rest of us:

[KansDem]

1. $1.539 trillion per year

Mind if I join you?

[TexasBushwhacker]

14. Especially considering the entire Federal budget

is $3.5 Trillion. You cannot bitch about deficit spending and the national debt with this kind of WASTE. Especially when they want to fix things by cutting Social Security which doesn't contribute a single penny to either.

[Frustratedlady]

2. Incredible. Let's look at all the reasons for the trillion dollar give-aways.

I'll bet the winning primary candidate would be the one who figures out how to wipe a lot of those out and spells it out so the average citizen can agree that it is possible.

Don't forget an explanation of how to catch those stashing money off-shore to avoid paying taxes the middle class has to pay instead. Then tell us how the charges will include penalties and prison time beyond a certain amount involved.

Shoot, I'd almost...almost...vote for a Republican if they could do these simple things.

[KamaAina]

3. I think you're talking about this guy.

<-------

[hifiguy]

4. Socialism for the rich

and the sharpest part of the Wedge of Capitalism straight up the asses of everyone else.

It's the 'murkan way!!! Fuck Yeah!

[1939]

5. Number Nine Import-Export Bank

Most of the companies on the list are some of the most heavily unionized companies in the US and pay good wages with benefits. Political suicide to have a platform plank on doing away with it.

[Scuba]

8. Unless you can back this up with a citation, I'm calling it a bullshit fear tactic.

[Lee-Lee]

9. Off the top of my head I know a few

Boeing and Catterpillar are two big, heavily Union, well paying ones that depend on it for export sales.

[1939]

10. And

General Electric sales of jet engines overseas. Their jet engine factory is unionized as is Case Tractors.

[1939]

11. Here ya go

http://www.goiam.org/index.php/imail/latest/15161-machinists-applaud-clintons-support-of-ex-im-bank

[Scuba]

13. Thanks, I appreciate the background information. Clearly these companies are using the I/E Bank ...

... to help grow their businesses. What's unsaid however, is that they could sell their products overseas without the government largesse, which is primarily used to fatten profits.

[1939]

17. Boeing is a good example

For overseas sales, they are in tight competition with Airbus. The EU governments subsidize Airbus sales. How well would Boeing overseas sale hold up against Airbus without E-I Bank? Loss of sales would do what for very well-paying union jobs in the Seattle area?

[Scuba]

18. That would be the same Boeing that's moving jobs from Washington to a right-to-work state?

http://www.bizjournals.com/seattle/blog/2014/09/boeings-new-south-carolina-facility-moves-jobs-out.html

Boeing's new South Carolina facility moves jobs out of Washington

While that’s good news for South Carolina, it’s bad news for Washington state.

The plan to spread out and restructure R&D facilities means a loss of 800 to 1,200 jobs in the Puget Sound area, the biggest jobs loss during R&D restructuring around the U.S.

Yet they want taxpayers, including Washington State union members, to prop up their sales?

[erpowers]

6. Great Article

That was a great article. More of the American public needs to see this information. It is likely that the majority of the American people are unaware of those numbers. It would be nice if the MSM would discuss the information that was in that article.

[Scuba]

7. 1. Tax Breaks for obscene CEO bonuses ($7 billion/year) ...

1. Tax Breaks for obscene CEO bonuses ($7 billion/year)
Currently, the biggest corporations are exploiting a 20-year-old loophole that allows them to write off inflated compensation packages for CEOs, billing stock options, and performance-based bonuses to taxpayers. In 2010, the Economic Policy Institute found out that the biggest corporations cost Americans $7 billion by writing off inflated executive pay. Between 2007 and 2010, this loophole accounted for more than $30 billion in corporate welfare. According to The Guardian, fast food industry CEOs cost taxpayers $64 million through this loophole.

...

3. Big oil subsidies ($37.5 billion/year)
According to Oil Change International (OCI), the U.S. government spends anywhere between $10 billion and $52 billion per year on corporate welfare for the fossil fuel industry — one of the wealthiest industries in the world. OCI estimated that total combined subsidies to big oil approached $37.5 billion in 2014, which includes $21 billion on production and exploration subsidies.

More vomit-inducing examples at the link.

[jwirr]

16. The others on the list include:

2. Tax cuts for luxury Corporate jets $300 million a year.

4. Big Pharma subsidies $270 billion a year.

5. Capital Gains tax break $51 billion a year.

6. Corporate tax subsidies from state and local government

$80.4 billion a year.

7. Handouts to Big Ag $18 billion a year.

8. Welfare for Wall Street Banks $83 billion a year.

9. Export-Import Bank subsidies $90 billion a year.

10. Federal contracts to top 200 biggest companies
$880 billion a year.

It is well worth reading the entire document.

[smirkymonkey]

12. K&R

[Xyzse]

15. Pretty nasty

[Initech]

19. The real mooching class.

These are the ones who I want to stop mooching off of my paycheck. Thieves.

[w0nderer]

20. comment to keep eye on thread and kick and recomment n/t

[ileus]

21. When you elect rich people, they can be expected to do rich things.