Docadhoc wrote:
What I think is that your crystal ball is cloudy and you have no idea of what the future holds.
On one hand we have the right trying to find a way for poor unemployed people to get off welfare, back on their feet, and become assets rather than liabilities. Seems like a good idea.
On the or her hand we have you, predicting what you guess may happen, and completely ignoring that you are exactly describing what Obama did by making the rich richer, poor poorer, and crippling those in between.
What I don't like is people like you who live in denial and cry over your predictions rather than applaud reality.
What I think is that your crystal ball is cloudy a... (
show quote)
And the reality that you can't through your brain fog is the fact that corporate welfare has already dwarfed social welfare way before obammy and continued through his sorry administration. We spend over 3 times as much on corporate welfare every year then all forms of social welfare combined...yet, you never hear anyone on the "right" side of the bird complain about this.
Iâm also happy to see that not everyone on the left has abandoned their distaste for corporate subsidies now that their subsidy-loving guy (that would be obammy) is in the White House.
Perhaps unsurprisingly, Common Dreamsâ criticisms and math do eventually veer into confused, anti-business mumbo-jumbo, but hereâs what they get exactly right:
1. $870 for Direct Subsidies and Grants to Companies. The Cato Institute estimates that the U.S. federal government spends $100 billion a year on corporate welfare. Thatâs an average of $870 for each one of Americaâs 115 million families.
This is definitely (and depressingly) correct: as I noted in my 2012 Cato paper on global subsidy reform, the US government provides myriad taxpayer-funded benefits to agribusiness, g***n e****y, automobile manufacturers, and whole host of other US businesses. Even worse, the $100 billion figure is up significantly (about $10 billion) over the last two budget-strapped years.
2. $696 for Business Incentives at the State, County, and City Levels. A New York Times investigation found that states, counties and cities give up over $80 billion each year to companies⦠$696 for every U.S. family.
Again, 100% correct, and this is actually one area in which state competition harms taxpayers, as politicians from different states compete with each other to woo corporations by offering them buckets of other peopleâs money.
6. $870 for Corporate Tax Subsidiesâ¦. [T]he Tax Foundation has concluded that their âspecial tax provisionsâ cost taxpayers over $100 billion per year, or $870 per family. Corporate benefits include items such as Graduated Corporate Income, Inventory Property Sales, Research and Experimentation Tax Credit, Accelerated Depreciation, and Deferred taxes.
Yep, and they also include all those g***n e****y tax breaks quietly thrown into last yearâs Fiscal Cliff deal. Wouldnât you say itâs time for a simpler, fairer, more globally-competitive corporate tax code?
If you add these altogether, you see that federal, state and local governments force American families to give, on average, $2436 per year to companies that certainly donât need the handouts (or shouldnât be in business if they do). That $2436 could go a long, long way for most families, whether it was spent on food and clothing, vacation, a college fund, or wh**ever mom, dad and the kids most need. Indeed, considering that the average American family spends around $6500 per year on food, eliminating these corporate subsidies and returning the savings to taxpayers could pay for about 4.5 months-worth of groceries.
http://thefederalist.com/2013/09/30/calculating-the-real-cost-of-corporate-welfare/Corporate Welfare
Robbing from the Poor to Give to the Rich
How much does the government really spend on welfare? (and by the "government" we mean taxpayers)
Social welfare: $59 billion
Corporate subsidies: $92 billion
$70 billion goes to gas and oil industries
The numbers behind corporate welfare expenses
$2.1 billion amount of tax dollars lost due to loophole of classifying earned income as capital gains
$58 billion amount given to corporations in tax breaks for offshore profits
encourages large companies to conceal their profits in offshore accounts
$59 billion amount of taxes avoided by wealthy taxpayers
capital gains and dividends are taxed at only 15% and provides the bulk of new wealth
$700 billion amount given in bank bailouts considered corporate welfare because there were no strings attached / no accountability for spending it
$9 trillion on low and no interest loans to major corporations and banks from the Federal Reserve
The prize for worst thing to buy with welfare money goes to:
Subsidies for private aircraft
those will private planes are able to:
use accelerated tax write-offs
claim that the aircraft is for security avoiding personal taxes
use air traffic control funded by ticket purchases for commercial flights
Subsidies for private equity and hedge funds
"carried interest" allows those earning the most to categorize their income as capital gains
capital gains are taxed at a much lower rate (max. 23.8% vs. max. 39.6% for earned income)
Subsidies for yachts
Mortgage-interest deductions now also cover the purchase of yachts and beach homes
The purpose of deductions was to encourage middle class home purchases
Now we're also helping the wealthy to keep their yachts
Subsidies for corporations from cities, counties and states
$80 billion a year in subsidies to companies to persuade them to operate locally
funded by individual cities, counties and states
the companies often take the subsidies and relocate their facilities elsewhere
Examples of Companies on Welfare:
Walmart
According to a report from U of C Berkeley Walmart's low employee wages are costing $86 million in publicly funded gov't assistance programs
Walmart justifies low wages with low prices, but this means giving the extra responsibility to taxpayers
Walmart also has it's own publicly funded control tower at Rogers Municipal Airport in AK
the tower cost $81,000 to operate in 2013
Big oil companies BP, ConocoPhillips, Exxon, Shell and Chevron
$4 billion in tax breaks annually
These breaks are meant to flow down to consumers yet prices remain on the rise
in one year, there was an 11% price hike on gasoline
2012: the average American household reached a 4 year spending high of about $3k on gasoline
Oil companies are still making record profits
2012: oil companies earned $118 billion in profits with $72 billion in cash reserves
http://www.masters-in-accounting.org/corporate-welfare/Defunding some welfare programs sounds like a great idea. Let's start with the most expensive: