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Democrats are Welfare Sponges...Bad for America
- Thread starter Bush92
- Start date
deanrd
Gold Member
- May 8, 2017
- 29,411
- 3,635
- 290
- Banned
- #42
We live in a world where the Democrat Party acts like they are the champions of poor folks. They are just the opposite.
The current position of our two great parties -
The GOP - fuck you!
The Democrats - we're fucked!
The GOP fucks everyone. Especially their own base.
- Mar 7, 2014
- 45,191
- 9,178
- 2,030
We live in a world where the Democrat Party acts like they are the champions of poor folks. They are just the opposite.
And a country which has given someone like Trump more in welfare than 1,000 people will get in their lifetime, oh, the poor rich people.
How much has this country "GIVEN" Trump?
Didn't Trump pay 38 million in income tax in one year?
Isn't that more than your 1,000 people will pay in income tax in their lifetimes?
How much do you think Trump pays in property taxes, sales taxes, luxury taxes...etc etc every year?
Sorry bud...you chose the wrong comparison...it's not even close.
Trump was given as estimated $900 million by New York state.
https://www.nytimes.com/2016/09/18/nyregion/donald-trump-tax-breaks-real-estate.html
"
A Trump Empire Built on Inside Connections and $885 Million in Tax Breaks"
"an extraordinary 40-year tax break that has cost New York City $360 million to date in forgiven, or uncollected, taxes, with four years still to run, on a property that cost only $120 million to build in 1980."
"Since then, Mr. Trump has reaped at least $885 million in tax breaks, grants and other subsidies for luxury apartments, hotels and office buildings in New York, "
"Mr. Trump successfully sued the administration of Mayor Edward I. Koch after being denied a tax break for Trump Tower"
"Two decades later, in a lawsuit that spanned the administrations of Mayors Rudolph W. Giuliani and Michael R. Bloomberg, he won a similar tax break for Trump World Tower, a building on First Avenue with some of the city’s highest-priced condominiums in 2001."
"The tax breaks for those two projects alone totaled $157 million."
"After the terrorist attacks on the World Trade Center, Mr. Trump lined up a $150,000 grant for one of his buildings near ground zero, taking advantage of a program to help small businesses in the area recover,"
"“Donald Trump is probably worse than any other developer in his relentless pursuit of every single dime of taxpayer subsidies he can get his paws on,” said Alicia Glen, "
And that's just New York. Florida and Chicago have also been targets of Trump.
NEGATIVE...you're still confused. The government did not GIVE Trump $900 million...the government simply did not GET $900 million from Trump. Hopefully you see the difference.
ShaQuita and Guadalupe are GIVEN their $2,000 per month for their six money trees (children) which comes straight from the wallets of productive taxpayers...Meanwhile they contribute NOTHING positive whatsoever.
Come on fellas...extract head from anus.
They do not understand tax policy. BTW how many payrolls did Trump make in those 40 years?
Oh, I understand tax policy alright.
If you have two businessmen, and they both own hotels in New York City. One has to pay tax and the other doesn't have to pay tax, which of them do you think is going to be bankrupt in 5 years time and which one isn't? Think about it.
I also know that this is WELFARE for RICH PEOPLE.
This American Life did a show about Social Security Disability. Every year we spend nearly a trillion dollars of our federal budget on SSD. One county had 1/4 of it’s residents on SSD. It was in MS. Red State. Nobody was surprised.
Thisamericanlife.org
Look up the episode “Trends with benefits.”
Thisamericanlife.org
Look up the episode “Trends with benefits.”
BrokeLoser
Diamond Member
Only in that backward, twisted world of LibtardoLand would whack-jobs champion for, defend and protect the taxpayer dependent pet human ShaQuita with six children and four baby daddy's....haha...funny shit!
Liberal Loons:
"But, but, but.....ShaQuita is AWESOME...it's the rich I tell ya...THE PROBLEM IS THE RICH!"
Fucking whackos...haha!
Liberal Loons:
"But, but, but.....ShaQuita is AWESOME...it's the rich I tell ya...THE PROBLEM IS THE RICH!"
Fucking whackos...haha!
BuckToothMoron
Gold Member
- Apr 3, 2016
- 9,895
- 1,898
- 290
We live in a world where the Democrat Party acts like they are the champions of poor folks. They are just the opposite.
I am sick and tired of idiot righties bitching about what everyone else is doing. It's asinine and I don't know how they do it.
I get up in the morning, I go to work. I don't worry about rather everyone else is working. I worry about getting my work done. I go to the grocery store, I buy my damn groceries. I don't walk around looking at everyone being so damn insecure in myself that I have to judge those around me.
It is stupid. I can't make the food stamp beneficiary work, or work more. I can't make the welfare queen marry her boyfriend. So why the FAWK would I waste my time bitching about it. It is STUPID.
If every damn asshole righty spent half the time they do bitching about other people focusing on themselves, then we could afford to double the number of lazy assholes on welfare.
And this dipshit. If the welfare people have it so much better than the working people, he is a stupid SOB for fawking working. Don't want to pay taxes, don't freaking work. Enjoy the good life, sucking off the government teat. But mostly, get the hell out of my way. If you can be satisfied sucking off the government teat I don't want you working anywhere near me. Hell, I am more than happy to pay you to stay at home and play the Xbox. It's more work, and more money, for me.
Years ago I waited tables. Every night you would hear the other servers bitching about "tipout". They would cry and cry about how much money they had to "tipout" to the bartenders, hostesses, and busboys. And then they would wonder why I made twice the money they did. It was simple, I was damn proud of what I tipedout. Hell, the more I did the more money I made. And every single one of the bartenders, hostesses, and busboys knew who paid them the most and treated me accordingly. Which, of course, helped me make more money and I ended up marrying the hot hostess while they scratched their damn head.
Taxes are the same way. A man, a REAL MAN, doesn't bitch about his taxes. He proudly pays them. He strives to pay more taxes, because just like the tipout, the more taxes he pays the more money he made.
In short, the righties need to get a damn life.
How totally IRONIC. The man in the video is sick and tired of lazy people on welfare not working. And you, a liberal, are sick and tired of hearing people bitch about lazy people on welfare not working. You are not bothered by the problem, you're bothered about people complaining about the problem. Judging from your's and your wife's work history, I'm guessing you don't bitch about the taxes you pay because you don't pay much, and it bothers you that others complain about what they pay, because it makes you realize just how little you make.
Winston
Platinum Member
We live in a world where the Democrat Party acts like they are the champions of poor folks. They are just the opposite.
I am sick and tired of idiot righties bitching about what everyone else is doing. It's asinine and I don't know how they do it.
I get up in the morning, I go to work. I don't worry about rather everyone else is working. I worry about getting my work done. I go to the grocery store, I buy my damn groceries. I don't walk around looking at everyone being so damn insecure in myself that I have to judge those around me.
It is stupid. I can't make the food stamp beneficiary work, or work more. I can't make the welfare queen marry her boyfriend. So why the FAWK would I waste my time bitching about it. It is STUPID.
If every damn asshole righty spent half the time they do bitching about other people focusing on themselves, then we could afford to double the number of lazy assholes on welfare.
And this dipshit. If the welfare people have it so much better than the working people, he is a stupid SOB for fawking working. Don't want to pay taxes, don't freaking work. Enjoy the good life, sucking off the government teat. But mostly, get the hell out of my way. If you can be satisfied sucking off the government teat I don't want you working anywhere near me. Hell, I am more than happy to pay you to stay at home and play the Xbox. It's more work, and more money, for me.
Years ago I waited tables. Every night you would hear the other servers bitching about "tipout". They would cry and cry about how much money they had to "tipout" to the bartenders, hostesses, and busboys. And then they would wonder why I made twice the money they did. It was simple, I was damn proud of what I tipedout. Hell, the more I did the more money I made. And every single one of the bartenders, hostesses, and busboys knew who paid them the most and treated me accordingly. Which, of course, helped me make more money and I ended up marrying the hot hostess while they scratched their damn head.
Taxes are the same way. A man, a REAL MAN, doesn't bitch about his taxes. He proudly pays them. He strives to pay more taxes, because just like the tipout, the more taxes he pays the more money he made.
In short, the righties need to get a damn life.
How totally IRONIC. The man in the video is sick and tired of lazy people on welfare not working. And you, a liberal, are sick and tired of hearing people bitch about lazy people on welfare not working. You are not bothered by the problem, you're bothered about people complaining about the problem. Judging from your's and your wife's work history, I'm guessing you don't bitch about the taxes you pay because you don't pay much, and it bothers you that others complain about what they pay, because it makes you realize just how little you make.
You obviously have not been paying attention to my posts.
Yes, I have a problem with people bitching about who is getting food stamps and what they are spending them on. Mostly, because it is stupid. Oh but for the grace of God, ever hear that? Or what about judging? Is it your place to judge?
But mostly, it is nothing but a ruse. The Republicans stir this shit up because they want you focusing on the five cents out of every tax dollar that goes to the non-working, not disabled or elderly, adults while ignoring the other fawking ninety five cents. Now I don't know what kind of business experience you have. But normally, well focusing on five percent while ignoring ninety-five percent would get you on the unemployment list in a hurry.
They don't want you looking at the 125 billion in waste within the Defense Department, that alone would cover the cost of the welfare everyone bitches about. They don't want you bitching about the lower tax rate on capital gains, 135 billion a year in lost revenue, again, that alone would cover the cost of the welfare you guys are bitching about.
We cut the waste in the Defense Department, we return to the RONALD REAGAN POLICY of taxing capital gains the same as earned income, and we eliminate the mortgage interest deduction of which 77% of the benefits go to families earning over a hundred grand a year and we would have THREE TIMES the amount of money as the cost of welfare to non-working adults.
BuckToothMoron
Gold Member
- Apr 3, 2016
- 9,895
- 1,898
- 290
We live in a world where the Democrat Party acts like they are the champions of poor folks. They are just the opposite.
I am sick and tired of idiot righties bitching about what everyone else is doing. It's asinine and I don't know how they do it.
I get up in the morning, I go to work. I don't worry about rather everyone else is working. I worry about getting my work done. I go to the grocery store, I buy my damn groceries. I don't walk around looking at everyone being so damn insecure in myself that I have to judge those around me.
It is stupid. I can't make the food stamp beneficiary work, or work more. I can't make the welfare queen marry her boyfriend. So why the FAWK would I waste my time bitching about it. It is STUPID.
If every damn asshole righty spent half the time they do bitching about other people focusing on themselves, then we could afford to double the number of lazy assholes on welfare.
And this dipshit. If the welfare people have it so much better than the working people, he is a stupid SOB for fawking working. Don't want to pay taxes, don't freaking work. Enjoy the good life, sucking off the government teat. But mostly, get the hell out of my way. If you can be satisfied sucking off the government teat I don't want you working anywhere near me. Hell, I am more than happy to pay you to stay at home and play the Xbox. It's more work, and more money, for me.
Years ago I waited tables. Every night you would hear the other servers bitching about "tipout". They would cry and cry about how much money they had to "tipout" to the bartenders, hostesses, and busboys. And then they would wonder why I made twice the money they did. It was simple, I was damn proud of what I tipedout. Hell, the more I did the more money I made. And every single one of the bartenders, hostesses, and busboys knew who paid them the most and treated me accordingly. Which, of course, helped me make more money and I ended up marrying the hot hostess while they scratched their damn head.
Taxes are the same way. A man, a REAL MAN, doesn't bitch about his taxes. He proudly pays them. He strives to pay more taxes, because just like the tipout, the more taxes he pays the more money he made.
In short, the righties need to get a damn life.
How totally IRONIC. The man in the video is sick and tired of lazy people on welfare not working. And you, a liberal, are sick and tired of hearing people bitch about lazy people on welfare not working. You are not bothered by the problem, you're bothered about people complaining about the problem. Judging from your's and your wife's work history, I'm guessing you don't bitch about the taxes you pay because you don't pay much, and it bothers you that others complain about what they pay, because it makes you realize just how little you make.
You obviously have not been paying attention to my posts.
Yes, I have a problem with people bitching about who is getting food stamps and what they are spending them on. Mostly, because it is stupid. Oh but for the grace of God, ever hear that? Or what about judging? Is it your place to judge?
But mostly, it is nothing but a ruse. The Republicans stir this shit up because they want you focusing on the five cents out of every tax dollar that goes to the non-working, not disabled or elderly, adults while ignoring the other fawking ninety five cents. Now I don't know what kind of business experience you have. But normally, well focusing on five percent while ignoring ninety-five percent would get you on the unemployment list in a hurry.
They don't want you looking at the 125 billion in waste within the Defense Department, that alone would cover the cost of the welfare everyone bitches about. They don't want you bitching about the lower tax rate on capital gains, 135 billion a year in lost revenue, again, that alone would cover the cost of the welfare you guys are bitching about.
We cut the waste in the Defense Department, we return to the RONALD REAGAN POLICY of taxing capital gains the same as earned income, and we eliminate the mortgage interest deduction of which 77% of the benefits go to families earning over a hundred grand a year and we would have THREE TIMES the amount of money as the cost of welfare to non-working adults.
I'm sorry, I missed the links that document all the numbers you quoted. As is typical for a liberal, you focused in on military spending which is 16% of the budget, while social programs like social security, and health care, and the so called safety net programs are nearly 4 times the cost of defense spending. You want to cut the waste in the defense, and so do I, but let's be realistic about the amount of waste in the social programs. Who doesn't know an able bodied person collecting a government check?
ScienceRocks
Democrat all the way!
- Banned
- #49
War is far worse...
Education, science and infrastructure is probably the best things you can spend money on as long as it is here at home....
Education, science and infrastructure is probably the best things you can spend money on as long as it is here at home....
BuckToothMoron
Gold Member
- Apr 3, 2016
- 9,895
- 1,898
- 290
War is far worse...
Education, science and infrastructure is probably the best things you can spend money on as long as it is here at home....
Said the man sitting safely behind the most powerful military in the world.
Thinker101
Diamond Member
- Mar 25, 2017
- 24,395
- 14,348
- 1,415
War is far worse...
Education, science and infrastructure is probably the best things you can spend money on as long as it is here at home....
Education...not sure about your state, in California we already flush enough money down the education toilet...and rarely if ever see any change for the better. Infrastructure, we have politicians in our state office that want to raise gas taxes, registration fees, and include a couple of "miscellaneous" fees....all for infrastructure. Only problem with that is their telling us up front about 40% of that money goes into infrastructure, the rest goes into the general (slush) fund.
- Dec 18, 2011
- 12,919
- 4,823
- 350
We live in a world where the Democrat Party acts like they are the champions of poor folks. They are just the opposite.
I am sick and tired of idiot righties bitching about what everyone else is doing. It's asinine and I don't know how they do it.
I get up in the morning, I go to work. I don't worry about rather everyone else is working. I worry about getting my work done. I go to the grocery store, I buy my damn groceries. I don't walk around looking at everyone being so damn insecure in myself that I have to judge those around me.
It is stupid. I can't make the food stamp beneficiary work, or work more. I can't make the welfare queen marry her boyfriend. So why the FAWK would I waste my time bitching about it. It is STUPID.
If every damn asshole righty spent half the time they do bitching about other people focusing on themselves, then we could afford to double the number of lazy assholes on welfare.
And this dipshit. If the welfare people have it so much better than the working people, he is a stupid SOB for fawking working. Don't want to pay taxes, don't freaking work. Enjoy the good life, sucking off the government teat. But mostly, get the hell out of my way. If you can be satisfied sucking off the government teat I don't want you working anywhere near me. Hell, I am more than happy to pay you to stay at home and play the Xbox. It's more work, and more money, for me.
Years ago I waited tables. Every night you would hear the other servers bitching about "tipout". They would cry and cry about how much money they had to "tipout" to the bartenders, hostesses, and busboys. And then they would wonder why I made twice the money they did. It was simple, I was damn proud of what I tipedout. Hell, the more I did the more money I made. And every single one of the bartenders, hostesses, and busboys knew who paid them the most and treated me accordingly. Which, of course, helped me make more money and I ended up marrying the hot hostess while they scratched their damn head.
Taxes are the same way. A man, a REAL MAN, doesn't bitch about his taxes. He proudly pays them. He strives to pay more taxes, because just like the tipout, the more taxes he pays the more money he made.
In short, the righties need to get a damn life.
Many go to work and mind their own business. Sadly, that doesn't stop government from taking more and more from them to continue the foolish spending. And it's the ones with their hands out waiting for a chunk of your hard earned cash that should get their own damn life.
Whether it's an able-bodied freeloader or a politician spending your money to appease campaign donors, it is our business.
I know the left would prefer that everyone just work and stop asking questions but that's tough shit.
Windship
VIP Member
- May 27, 2014
- 3,096
- 131
- 85
MAR 14, 2014 @ 10:09 AM 198,856 The Little Black Book of Billionaire Secrets
Where Is The Outrage Over Corporate Welfare?
Tax Analysts
The leading global publisher of tax news, analysis and commentary
Opinions expressed by Forbes Contributors are their own.
David Brunori, Subscriber
I recently read the February 24 Good Jobs First report, “Subsidizing the Corporate One Percent,” by Philip Mattera, a respected thought leader in our business. It says that three-quarters of all state economic development subsidies went to just 965 corporations since the beginning of the study in 1976. The Fortune 500 corporations alone accounted for more than 16,000 subsidy awards, worth $63 billion – mostly in the form of tax breaks.
Think about that. The largest, wealthiest, most powerful organizations in the world are on the public dole. Where is the outrage? Back when I was young, people went into a frenzy at the thought of some unemployed person using food stamps to buy liquor or cigarettes. Ronald Reagan famously campaigned against welfare queens. The right has always been obsessed with moochers. But Boeing receives $13 billion in government handouts and everyone yawns, when conservatives should be grabbing their pitchforks.
According to Good Jobs First, there are 514 economic development programs in the 50 states and the District of Columbia. More than 245,000 awards have been granted under those programs. I ask again, where is the outrage? The system is antithetical to the idea of free markets. A quarter of a million times, state governments decided what is best for producers and consumers. That should make us cringe. First, the government is inefficient at providing public goods, and it is terrible at manipulating the markets for private goods. But more importantly, those 514 economic development programs are almost all the result of insidious cronyism. Narrow business interests manipulate government policymakers, and those interests prosper to the detriment of everyone else. Free markets be damned.
And while I’m looking for outrage, where are the liberals? The 965 companies in the report received over $110 billion of public money. Berkshire Hathaway, a company with $485 billion in assets and $20 billion in profits, received over $1 billion of that money. Its chair, Warren Buffett, is worth about $58 billion. Buffett, by the way, is still a darling of the left. He has some nerve to call for higher taxes. The billion dollars his companies took would pay for a lot of teachers, healthcare, and other public goods.
I don’t blame the corporations. They act rationally. If someone gives you $1 billion, you take it. The blame lies with us. The sheer size of the corporate welfare system should spark outrage whether we are conservatives, liberals, or libertarians. And that outrage should be reflected in how we vote. In the meantime, kudos to Good Jobs First for continuing to highlight this problem.
Where Is The Outrage Over Corporate Welfare?
Tax Analysts
The leading global publisher of tax news, analysis and commentary
Opinions expressed by Forbes Contributors are their own.
David Brunori, SubscriberI recently read the February 24 Good Jobs First report, “Subsidizing the Corporate One Percent,” by Philip Mattera, a respected thought leader in our business. It says that three-quarters of all state economic development subsidies went to just 965 corporations since the beginning of the study in 1976. The Fortune 500 corporations alone accounted for more than 16,000 subsidy awards, worth $63 billion – mostly in the form of tax breaks.
Think about that. The largest, wealthiest, most powerful organizations in the world are on the public dole. Where is the outrage? Back when I was young, people went into a frenzy at the thought of some unemployed person using food stamps to buy liquor or cigarettes. Ronald Reagan famously campaigned against welfare queens. The right has always been obsessed with moochers. But Boeing receives $13 billion in government handouts and everyone yawns, when conservatives should be grabbing their pitchforks.
According to Good Jobs First, there are 514 economic development programs in the 50 states and the District of Columbia. More than 245,000 awards have been granted under those programs. I ask again, where is the outrage? The system is antithetical to the idea of free markets. A quarter of a million times, state governments decided what is best for producers and consumers. That should make us cringe. First, the government is inefficient at providing public goods, and it is terrible at manipulating the markets for private goods. But more importantly, those 514 economic development programs are almost all the result of insidious cronyism. Narrow business interests manipulate government policymakers, and those interests prosper to the detriment of everyone else. Free markets be damned.
And while I’m looking for outrage, where are the liberals? The 965 companies in the report received over $110 billion of public money. Berkshire Hathaway, a company with $485 billion in assets and $20 billion in profits, received over $1 billion of that money. Its chair, Warren Buffett, is worth about $58 billion. Buffett, by the way, is still a darling of the left. He has some nerve to call for higher taxes. The billion dollars his companies took would pay for a lot of teachers, healthcare, and other public goods.
I don’t blame the corporations. They act rationally. If someone gives you $1 billion, you take it. The blame lies with us. The sheer size of the corporate welfare system should spark outrage whether we are conservatives, liberals, or libertarians. And that outrage should be reflected in how we vote. In the meantime, kudos to Good Jobs First for continuing to highlight this problem.
Windship
VIP Member
- May 27, 2014
- 3,096
- 131
- 85
THE BLOG
01/14/2014 08:08 pm ET | Updated Mar 16, 2014
Ten Examples of Welfare for the Rich and Corporations
By Bill Quigley
Here are the top 10 examples of corporate welfare and welfare for the rich. There are actually 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 U.S. Government Accountability Office.
4. Federal tax breaks for wealthy hedge fund managers: Special tax breaks for hedge fund managers allow them to pay only a 15-percent rate while the people they earned the money for usually pay a 35-percent 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 percent of those who receive this special tax break earn more than $462,500 per year (the top 1 percent of earners).
5. Subsidies to the 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.
6. Mortgage deduction: The home mortgage deduction, which costs taxpayers $70 billion per year, is a huge subsidy to the real estate, banking and construction industries. The Center of Budget and Policy Priorities estimated that 77 percent of the benefit goes to homeowners with incomes over $100,000 per year.
7. The billions above do not even count the government bailout of Wall Street, while all parties have done their utmost to tell the public that they did not need it, that they paid it back, or that it was a great investment. The Atlantic Monthly estimates that $7.6 trillion was made available by the Federal Reserve to banks, financial firms and investors. The Cato Institute estimates (using government figures) the final costs at $32 to $68 billion, not including the takeover of Fannie Mae and Freddie Mac, which alone cost more than $180 billion.
8. Each major piece of legislation contains new welfare for the rich and corporations. The Boston Globe analyzed the emergency tax legislation passed by Congress in early 2013 and found it contained 43 business and energy tax breaks, together worth $67 billion.
9. Huge corporations that engage in criminal or other wrongful activities protect their leaders from being prosecuted by paying huge fees or fines to the government. You and I would be prosecuted. These corporations protect their bosses by paying off the government. For example, Reuters reported that JPMorgan Chase, which made a preliminary $13-billion mortgage settlement with the U.S. government, is allowed to write off a majority of the deal as tax deductible, saving the corporation $4 billion.
10. There are thousands of smaller special breaks for corporations and businesses out there. There is a special subsidy for corporate jets, which cost taxpayers $3 billion a year. The tax deduction for second homes costs $8 billion a year. Fifty billionaires received taxpayer-funded farm subsidies in the past 20 years.
If you want to look at the welfare for the rich and corporations, start with the federal Internal Revenue Code. That is the King James Bible of welfare for the rich and corporations. Special breaks in the tax code are the reason that there are thousands of lobbyists in the halls of Congress, hundreds of lobbyists around each state legislature and tens of thousands of tax lawyers all over the country.
01/14/2014 08:08 pm ET | Updated Mar 16, 2014
Ten Examples of Welfare for the Rich and Corporations
By Bill Quigley
2.3k
Here are the top 10 examples of corporate welfare and welfare for the rich. There are actually 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 U.S. Government Accountability Office.
4. Federal tax breaks for wealthy hedge fund managers: Special tax breaks for hedge fund managers allow them to pay only a 15-percent rate while the people they earned the money for usually pay a 35-percent 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 percent of those who receive this special tax break earn more than $462,500 per year (the top 1 percent of earners).
5. Subsidies to the 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.
6. Mortgage deduction: The home mortgage deduction, which costs taxpayers $70 billion per year, is a huge subsidy to the real estate, banking and construction industries. The Center of Budget and Policy Priorities estimated that 77 percent of the benefit goes to homeowners with incomes over $100,000 per year.
7. The billions above do not even count the government bailout of Wall Street, while all parties have done their utmost to tell the public that they did not need it, that they paid it back, or that it was a great investment. The Atlantic Monthly estimates that $7.6 trillion was made available by the Federal Reserve to banks, financial firms and investors. The Cato Institute estimates (using government figures) the final costs at $32 to $68 billion, not including the takeover of Fannie Mae and Freddie Mac, which alone cost more than $180 billion.
8. Each major piece of legislation contains new welfare for the rich and corporations. The Boston Globe analyzed the emergency tax legislation passed by Congress in early 2013 and found it contained 43 business and energy tax breaks, together worth $67 billion.
9. Huge corporations that engage in criminal or other wrongful activities protect their leaders from being prosecuted by paying huge fees or fines to the government. You and I would be prosecuted. These corporations protect their bosses by paying off the government. For example, Reuters reported that JPMorgan Chase, which made a preliminary $13-billion mortgage settlement with the U.S. government, is allowed to write off a majority of the deal as tax deductible, saving the corporation $4 billion.
10. There are thousands of smaller special breaks for corporations and businesses out there. There is a special subsidy for corporate jets, which cost taxpayers $3 billion a year. The tax deduction for second homes costs $8 billion a year. Fifty billionaires received taxpayer-funded farm subsidies in the past 20 years.
If you want to look at the welfare for the rich and corporations, start with the federal Internal Revenue Code. That is the King James Bible of welfare for the rich and corporations. Special breaks in the tax code are the reason that there are thousands of lobbyists in the halls of Congress, hundreds of lobbyists around each state legislature and tens of thousands of tax lawyers all over the country.
Windship
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OCT 26, 2016 @ 02:28 PM 1,507 The Little Black Book of Billionaire Secrets
The Corporate Welfare Fable
Capital Flows ,
CONTRIBUTOR
Guest commentary curated by Forbes Opinion. Avik Roy, Opinion Editor.
Opinions expressed by Forbes Contributors are their own.
GUEST POST WRITTEN BY
Brent Gardner
Mr. Gardner is vice president of Government Affairs of Americans for Prosperity.
D.C taxpayers are spending half a million dollars per construction job--all for the benefit of a private company. (Shutterstock)
Politicians use a simple sales pitch when it comes to corporate welfare: It’ll create jobs, spur economic growth, and benefit local communities. But these promises are more used-car salesman than statesman, and any American who looks into these claims will find that they’re being sold a bill of goods. Of course, the government should enact policies that enable businesses to thrive, but too often they cut special deals for the wealthy and well-connected and limit opportunity for everyone else.
The latest proof comes from none other than Washington, D.C. Six years ago, a hotel developer began talks with D.C. council members to receive a $46 million tax credit if the company created 300 construction jobs for local residents. Yet the hotel in question is now weeks away from completion, and to date the company has hired only 90 District employees--less than a third of what they agreed to before getting their taxpayer-funded windfall. At this rate, D.C taxpayers are spending half a million dollars per construction job--all for the benefit of a private company.
Watch on Forbes: Popular Tax Breaks Expiring At The End of 2016
This promise-not-delivered is not unique to the nation’s capital. Across the country, politicians have filled corporate coffers with taxpayer money despite meager--and often painful--results.
In upstate New York, for instance, Gov. Cuomo kicked off the “Start-Up New York” program in 2013. He pledged to “supercharge” the state economy by creating tax-free zones for businesses. Cuomo’s office estimated that the program would generate more than 4,000 jobs by 2020. Roughly half-way to the finish line, the program has brought in a mere 10% of the promised jobs, even as the state has spent tens of millions.
Nearly every state has an office dedicated to granting special taxpayer benefits to select corporations, with little or nothing to show for it. In recent years, from Michigan to Texas, states across the blue-red divide have each spent north of $3 billion on special deals to lure businesses to the state, or to keep them there. All told, state and local governments have awarded companies over $64 billion in the past three and a half decades according to a 2013 Good Jobs First report. What do taxpayers get in return? One job for every $456,000 spent.
Digging down to specific special-interest handouts yields even more evidence. Take the example of tax credits for Hollywood producers, one of the most common giveaways that’s supposed to create jobs but rarely does.
In North Carolina, for instance, the state’s general assembly recently found $30 million in tax credits awarded in 2011 created between 55 and 70 new jobs. The state was paying roughly half a million per job, yet those hired were making $36,000 annually. The results in Massachusetts weren’t much better. The Massachusetts Department of Revenue concluded that between 2006 and 2012, for every job obtained by a local resident--some only lasting a few weeks--the state lost $118,873.
Nationally, the University of Southern California recently concluded that since 1999 film tax credits have created close to zero new jobs, even in the production-heavy states of California and New York. Meanwhile, Hollywood producers and stars have gotten rich off a total $1.8 billion in giveaways.
The Corporate Welfare Fable
Capital Flows ,
CONTRIBUTOR
Guest commentary curated by Forbes Opinion. Avik Roy, Opinion Editor.
Opinions expressed by Forbes Contributors are their own.
GUEST POST WRITTEN BY
Brent Gardner
Mr. Gardner is vice president of Government Affairs of Americans for Prosperity.
D.C taxpayers are spending half a million dollars per construction job--all for the benefit of a private company. (Shutterstock)
Politicians use a simple sales pitch when it comes to corporate welfare: It’ll create jobs, spur economic growth, and benefit local communities. But these promises are more used-car salesman than statesman, and any American who looks into these claims will find that they’re being sold a bill of goods. Of course, the government should enact policies that enable businesses to thrive, but too often they cut special deals for the wealthy and well-connected and limit opportunity for everyone else.
The latest proof comes from none other than Washington, D.C. Six years ago, a hotel developer began talks with D.C. council members to receive a $46 million tax credit if the company created 300 construction jobs for local residents. Yet the hotel in question is now weeks away from completion, and to date the company has hired only 90 District employees--less than a third of what they agreed to before getting their taxpayer-funded windfall. At this rate, D.C taxpayers are spending half a million dollars per construction job--all for the benefit of a private company.
Watch on Forbes: Popular Tax Breaks Expiring At The End of 2016
This promise-not-delivered is not unique to the nation’s capital. Across the country, politicians have filled corporate coffers with taxpayer money despite meager--and often painful--results.
In upstate New York, for instance, Gov. Cuomo kicked off the “Start-Up New York” program in 2013. He pledged to “supercharge” the state economy by creating tax-free zones for businesses. Cuomo’s office estimated that the program would generate more than 4,000 jobs by 2020. Roughly half-way to the finish line, the program has brought in a mere 10% of the promised jobs, even as the state has spent tens of millions.
Nearly every state has an office dedicated to granting special taxpayer benefits to select corporations, with little or nothing to show for it. In recent years, from Michigan to Texas, states across the blue-red divide have each spent north of $3 billion on special deals to lure businesses to the state, or to keep them there. All told, state and local governments have awarded companies over $64 billion in the past three and a half decades according to a 2013 Good Jobs First report. What do taxpayers get in return? One job for every $456,000 spent.
Digging down to specific special-interest handouts yields even more evidence. Take the example of tax credits for Hollywood producers, one of the most common giveaways that’s supposed to create jobs but rarely does.
In North Carolina, for instance, the state’s general assembly recently found $30 million in tax credits awarded in 2011 created between 55 and 70 new jobs. The state was paying roughly half a million per job, yet those hired were making $36,000 annually. The results in Massachusetts weren’t much better. The Massachusetts Department of Revenue concluded that between 2006 and 2012, for every job obtained by a local resident--some only lasting a few weeks--the state lost $118,873.
Nationally, the University of Southern California recently concluded that since 1999 film tax credits have created close to zero new jobs, even in the production-heavy states of California and New York. Meanwhile, Hollywood producers and stars have gotten rich off a total $1.8 billion in giveaways.
Windship
VIP Member
- May 27, 2014
- 3,096
- 131
- 85
The 8 Biggest Corporate Welfare Recipients in America
Photo by Stan Honday/AFP/Getty Images
In the U.S., it is rather commonplace to see welfare recipients demonized, people on food stamps ostracized, and anyone on any form of public assistance is often made to feel guilty that they need help. They are called lazy and incompetent, with little regard for circumstance or economic hardship. Sure, there are some people that take advantage of the system. But there are millions that desperately need help, and social welfare programs are the only thing standing between them and poverty.
That demonization seems to shift, however, when it comes to giving assistance to big business. According to The Cato Institute, corporate welfare handouts shot all the way up to $92 billion as of 2002. Most of those subsidies were secured by companies in industries like energy — which are some of the most profitable entities in the history of the world. As one writer at Forbes points out, cutting these huge subsidies would be a great way to help balance the national budget, but it is never put into action, and much less even considered.
More recently, subsidy tracking group Good Jobs First released a 2014 report detailing where exactly taxpayer dollars are being funneled, and which states are the most likely to divvy up handouts. There are some surprises in the report, but many details won’t come as much of a shock at all. New York and Washington were the top two states for handing out corporate subsidies, with New York alone topping more than $20 billion across nearly 69,000 individual handouts. The data also shows that roughly 75% of disclosed subsidy dollars have gone to 965 big companies. The total known value of subsidies across the country came out at an estimated $110 billion, although its likely more.
From its data, Good Jobs First was able to identify the top 100 recipients of corporate subsidies, dominated by transportation and natural resource companies. Here are the top eight companies from that list, and the total known amount in subsidies they are receiving.
Source: Getty Images
8. Nike — $2.03 Billion
Nike, based in the Portland suburb of Beaverton, Oregon, has taken in more than $2 billion in government appropriations, spanning 75 individual subsidies. Spanning the globe in terms of scope and reach, Nike isn’t exactly strapped for cash, so making the case that the company is in need of government assistance can be difficult.
Nike has been doing a good job of cleaning up its act over the past several years, cracking down on harsh factory conditions in its many plants across the world and giving plenty of money to schools across the country — most notably, the University of Oregon. While far from the top, Nike is getting a substantial boost to its revenue from the taxpayers, and it’s something the public and their representatives should keep an eye on.
Source: Leon Neal/Getty Images
7. Royal Dutch Shell — $2.04 Billion
As a petroleum company, Shell has been reaping profits like the world has never seen before, along with industry cohorts like Exxon Mobil. Many consumers have had to find ways to adjust as gas prices continue to rise, along with production costs of plastics and other materials. All the while, major oil companies have been sitting back and watching profits pile up.
Shell received $2.04 billion across 79 subsidies — enough to make it the top oil company in Good Jobs First‘s findings. For politicians looking to actually make headway towards balancing the budget, handouts to companies like Shell might be a good place to start reviewing. As The New York Times writes, these handouts only add on to the billions oil companies are already bringing in. In the words of Senator Robert Menendez of New Jersey, “there is no reason for these corporations to shortchange the American taxpayer.”
Source: Fiat
6. Fiat Chrysler Automobiles — $2.06 Billion
Fiat, now the owner of Chrysler, has been receiving a considerable chunk of taxpayer cash to help with its vehicle production worldwide. The government has ponied over more than $2 billion to the Italian-based auto maker, which it has used to help prop up brands like Dodge, Ram, and Chrysler here in the states. The company has come out to say that the survival and performance of its American brands are crucial to success, as it hopes revamps to its Jeep and Alfa Romeo lineups help on the bottom line.
Fiat has received 96 subsidies to bring their total up to $2.06 billion, and it’s obvious that the government sees the importance of helping the company prop up its American businesses. With several production plants and dealerships operating across the U.S., hopefully it turns out to be a worthwhile investment.
Source: Ford
5. Ford — $2.52 Billion
It doesn’t get much more ‘American’ than the Ford Motor Company, which itself has allocated $2.52 billion in government funding as of late. Spread across 193 separate appropriations, the subsidies have been able to help Ford recover from the financial crisis and adapt to a world that looks more and more like it have less cars on the road in coming years. Ford has been able to avoid, by and large, some of the other issues other American manufactures have had to deal with, but it still faces an uncertain future.
Ford has seen revenues surge as new technology, features, and models have been added to its lineup. It’s still the maker of the best selling car in America, the F-150, and its Fusion sedan has been winning over many in the sedan segment. However, for a company that is pulling in $7.2 billion in profits, as reported by The Guardian, it does bring up questions as to why the company is getting so much from the taxpayers when it is more than profitable.
Source: General Motors
4. General Motors — $3.58 Billion
Detroit’s own General Motors was found to be getting $3.58 billion in subsidies, coming in from 320 individual appropriations. Having survived bankruptcy on the backs of the taxpayers in 2009, GM took drastic measures to return itself to profitability. Several brands were cut from under the GM umbrella, leaving just four still in production. GM looked to be on a path towards stability until recent happenings have quickly returned the company to the public’s ire.
GM was found to have allowed vehicles with severe issues to go to market, resulting in customer deaths and the recall of millions of cars, trucks, and SUVs. With most of the recalls having occurred over the past year, the realization of how much the company is receiving in subsidies has been more of an afterthought than anything. Though GM is getting things turned around, it’s still likely to be on the receiving end of public money for quite some time.
Source: Justin Sullivan/Getty Images
3. Intel — $3.87 Billion
The pride of Santa Clara, California, Intel is a maker of semiconductor microchips used in computers all across the world. The company was one of the big drivers behind the computing revolution of the 1980s and 1990s, and its founding dates all the way back to 1968. Intel is also on the receiving end of large amounts of government cash, with totals most recently reaching $3.87 billion from 59 individual subsidies.
It’s not a total stretch to understand why Intel might be getting so much money from the government, as there is a whole lot of interest in investing in the development of computing’s evolution. From defense to space exploration and everything in between, there’s no doubt that Intel’s chips will be used to power a huge amount of projects in coming years, with the private sector also a close watch.
Source: Mario Laporta/Getty Images
2. Alcoa — $5.64 Billion
You may not know Alcoa by name, but there’s probably at least one product with Alcoa aluminum in it somewhere in your home. As the world’s third largest producer of aluminum, Alcoa has an extensive history dating back to 1886 when it was first founded in Pittsburgh, Pennsylvania. The company has received $5.64 billion across 99 subsidies according to Find Good Jobs‘ report, which have helped the company go on to secure lucrative contracts for projects, like building jet engine parts.
As of the past few years, Alcoa has really been picking up steam. Production has increased at its numerous plants and stock prices have jumped as investors have taken notice. As the company continues to ramp things up, look for subsidy levels to remain high in coming years.
Source: Thinkstock
1. Boeing — $13.18 Billion
The top welfare recipient of them all is aerospace giant Boeing, which has operations spread all across the country building aircraft and working on numerous Department of Defense projects. The amount of work Boeing does for the federal government no doubt plays a part in the amount of subsidies the company has been able to secure, but Boeing has also played hardball with local jurisdictions to get enormous tax breaks. With more than $13 billion coming in from 148 handouts, Boeing has thoroughly entrenched itself in the interest of the government and taxpayers.
Despite the immense amount of money the company is receiving, it has still gone on to hold cities hostage in tax negotiations, threatening to remove jobs and open up shop in friendlier climates. This past year, Boeing secured the highest ever tax break at the state level when it cornered the Washington legislature into ceding to its demands, lest it move its production plants to another part of the country. The legislature granted Boeing its wish, but Boeing went on to announce drastic layoffs anyway, angering many locals.
Boeing has become the king of corporate handouts, and other corporations have a long way to go to catch up.
- May 07, 2015
Photo by Stan Honday/AFP/Getty Images
In the U.S., it is rather commonplace to see welfare recipients demonized, people on food stamps ostracized, and anyone on any form of public assistance is often made to feel guilty that they need help. They are called lazy and incompetent, with little regard for circumstance or economic hardship. Sure, there are some people that take advantage of the system. But there are millions that desperately need help, and social welfare programs are the only thing standing between them and poverty.
That demonization seems to shift, however, when it comes to giving assistance to big business. According to The Cato Institute, corporate welfare handouts shot all the way up to $92 billion as of 2002. Most of those subsidies were secured by companies in industries like energy — which are some of the most profitable entities in the history of the world. As one writer at Forbes points out, cutting these huge subsidies would be a great way to help balance the national budget, but it is never put into action, and much less even considered.
More recently, subsidy tracking group Good Jobs First released a 2014 report detailing where exactly taxpayer dollars are being funneled, and which states are the most likely to divvy up handouts. There are some surprises in the report, but many details won’t come as much of a shock at all. New York and Washington were the top two states for handing out corporate subsidies, with New York alone topping more than $20 billion across nearly 69,000 individual handouts. The data also shows that roughly 75% of disclosed subsidy dollars have gone to 965 big companies. The total known value of subsidies across the country came out at an estimated $110 billion, although its likely more.
From its data, Good Jobs First was able to identify the top 100 recipients of corporate subsidies, dominated by transportation and natural resource companies. Here are the top eight companies from that list, and the total known amount in subsidies they are receiving.
Source: Getty Images
8. Nike — $2.03 Billion
Nike, based in the Portland suburb of Beaverton, Oregon, has taken in more than $2 billion in government appropriations, spanning 75 individual subsidies. Spanning the globe in terms of scope and reach, Nike isn’t exactly strapped for cash, so making the case that the company is in need of government assistance can be difficult.
Nike has been doing a good job of cleaning up its act over the past several years, cracking down on harsh factory conditions in its many plants across the world and giving plenty of money to schools across the country — most notably, the University of Oregon. While far from the top, Nike is getting a substantial boost to its revenue from the taxpayers, and it’s something the public and their representatives should keep an eye on.
Source: Leon Neal/Getty Images
7. Royal Dutch Shell — $2.04 Billion
As a petroleum company, Shell has been reaping profits like the world has never seen before, along with industry cohorts like Exxon Mobil. Many consumers have had to find ways to adjust as gas prices continue to rise, along with production costs of plastics and other materials. All the while, major oil companies have been sitting back and watching profits pile up.
Shell received $2.04 billion across 79 subsidies — enough to make it the top oil company in Good Jobs First‘s findings. For politicians looking to actually make headway towards balancing the budget, handouts to companies like Shell might be a good place to start reviewing. As The New York Times writes, these handouts only add on to the billions oil companies are already bringing in. In the words of Senator Robert Menendez of New Jersey, “there is no reason for these corporations to shortchange the American taxpayer.”
Source: Fiat
6. Fiat Chrysler Automobiles — $2.06 Billion
Fiat, now the owner of Chrysler, has been receiving a considerable chunk of taxpayer cash to help with its vehicle production worldwide. The government has ponied over more than $2 billion to the Italian-based auto maker, which it has used to help prop up brands like Dodge, Ram, and Chrysler here in the states. The company has come out to say that the survival and performance of its American brands are crucial to success, as it hopes revamps to its Jeep and Alfa Romeo lineups help on the bottom line.
Fiat has received 96 subsidies to bring their total up to $2.06 billion, and it’s obvious that the government sees the importance of helping the company prop up its American businesses. With several production plants and dealerships operating across the U.S., hopefully it turns out to be a worthwhile investment.
Source: Ford
5. Ford — $2.52 Billion
It doesn’t get much more ‘American’ than the Ford Motor Company, which itself has allocated $2.52 billion in government funding as of late. Spread across 193 separate appropriations, the subsidies have been able to help Ford recover from the financial crisis and adapt to a world that looks more and more like it have less cars on the road in coming years. Ford has been able to avoid, by and large, some of the other issues other American manufactures have had to deal with, but it still faces an uncertain future.
Ford has seen revenues surge as new technology, features, and models have been added to its lineup. It’s still the maker of the best selling car in America, the F-150, and its Fusion sedan has been winning over many in the sedan segment. However, for a company that is pulling in $7.2 billion in profits, as reported by The Guardian, it does bring up questions as to why the company is getting so much from the taxpayers when it is more than profitable.
Source: General Motors
4. General Motors — $3.58 Billion
Detroit’s own General Motors was found to be getting $3.58 billion in subsidies, coming in from 320 individual appropriations. Having survived bankruptcy on the backs of the taxpayers in 2009, GM took drastic measures to return itself to profitability. Several brands were cut from under the GM umbrella, leaving just four still in production. GM looked to be on a path towards stability until recent happenings have quickly returned the company to the public’s ire.
GM was found to have allowed vehicles with severe issues to go to market, resulting in customer deaths and the recall of millions of cars, trucks, and SUVs. With most of the recalls having occurred over the past year, the realization of how much the company is receiving in subsidies has been more of an afterthought than anything. Though GM is getting things turned around, it’s still likely to be on the receiving end of public money for quite some time.
Source: Justin Sullivan/Getty Images
3. Intel — $3.87 Billion
The pride of Santa Clara, California, Intel is a maker of semiconductor microchips used in computers all across the world. The company was one of the big drivers behind the computing revolution of the 1980s and 1990s, and its founding dates all the way back to 1968. Intel is also on the receiving end of large amounts of government cash, with totals most recently reaching $3.87 billion from 59 individual subsidies.
It’s not a total stretch to understand why Intel might be getting so much money from the government, as there is a whole lot of interest in investing in the development of computing’s evolution. From defense to space exploration and everything in between, there’s no doubt that Intel’s chips will be used to power a huge amount of projects in coming years, with the private sector also a close watch.
Source: Mario Laporta/Getty Images
2. Alcoa — $5.64 Billion
You may not know Alcoa by name, but there’s probably at least one product with Alcoa aluminum in it somewhere in your home. As the world’s third largest producer of aluminum, Alcoa has an extensive history dating back to 1886 when it was first founded in Pittsburgh, Pennsylvania. The company has received $5.64 billion across 99 subsidies according to Find Good Jobs‘ report, which have helped the company go on to secure lucrative contracts for projects, like building jet engine parts.
As of the past few years, Alcoa has really been picking up steam. Production has increased at its numerous plants and stock prices have jumped as investors have taken notice. As the company continues to ramp things up, look for subsidy levels to remain high in coming years.
Source: Thinkstock
1. Boeing — $13.18 Billion
The top welfare recipient of them all is aerospace giant Boeing, which has operations spread all across the country building aircraft and working on numerous Department of Defense projects. The amount of work Boeing does for the federal government no doubt plays a part in the amount of subsidies the company has been able to secure, but Boeing has also played hardball with local jurisdictions to get enormous tax breaks. With more than $13 billion coming in from 148 handouts, Boeing has thoroughly entrenched itself in the interest of the government and taxpayers.
Despite the immense amount of money the company is receiving, it has still gone on to hold cities hostage in tax negotiations, threatening to remove jobs and open up shop in friendlier climates. This past year, Boeing secured the highest ever tax break at the state level when it cornered the Washington legislature into ceding to its demands, lest it move its production plants to another part of the country. The legislature granted Boeing its wish, but Boeing went on to announce drastic layoffs anyway, angering many locals.
Boeing has become the king of corporate handouts, and other corporations have a long way to go to catch up.
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