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In the debate about poverty, critics argue that government assistance saps initiative and is unaffordable. After exploring the issue, I must concede that the critics have a point. Here are five public welfare programs that are wasteful and turning us into a nation of takers.
First, welfare subsidies for private planes. The United States offers three kinds of subsidies to tycoons with private jets: accelerated tax write-offs, avoidance of personal taxes on the benefit by claiming that private aircraft are for security, and use of air traffic control paid for by chumps flying commercial.
... Second, welfare subsidies for yachts. The mortgage-interest deduction was meant to encourage a home-owning middle class. But it has been extended to provide subsidies for beach homes and even yachts.
... Third, welfare subsidies for hedge funds and private equity. The single most outrageous tax loophole in America is for carried interest, allowing people with the highest earnings to pay paltry taxes. They can magically reclassify their earned income as capital gains, because that carries a lower tax rate (a maximum of 23.8 percent this year, compared with a maximum of 39.6 percent for earned income).
... Fourth, welfare subsidies for Americas biggest banks. The too-big-to-fail banks in the United States borrow money unusually cheaply because of an implicit government promise to rescue them. Bloomberg View calculated last year that this amounts to a taxpayer subsidy of $83 billion to our 10 biggest banks annually.
... Fifth, large welfare subsidies for American corporations from cities, counties and states. A bit more than a year ago, Louise Story of The New York Times tallied more than $80 billion a year in subsidies to companies, mostly as incentives to operate locally.
More pretending by the resident occupier.
Corporate welfare needs to stop and we close up loopholes like Reagan did.
I enjoy the subsidy for private planes. For me it's $2M/year 100% deduction. Thank You Republicans!
More pretending by the resident occupier.
Corporate welfare needs to stop and we close up loopholes like Reagan did.
Reagan closed loopholes?, that's funny! Which loopholes did he close? I was a millionaire during the Reagan years and paid less and less, while the middle-class paid more and more. The middle-class received ELEVEN tax increases under Reagan.
I enjoy the subsidy for private planes. For me it's $2M/year 100% deduction. Thank You Republicans!
LOL
Yeah.
LOL
More pretending by the resident occupier.
Corporate welfare needs to stop and we close up loopholes like Reagan did.
Reagan closed loopholes?, that's funny! Which loopholes did he close? I was a millionaire during the Reagan years and paid less and less, while the middle-class paid more and more. The middle-class received ELEVEN tax increases under Reagan.
It's true, it is now being championed as the Warren Buffet rule, however Reagan got Congress to close loopholes, of course it's more proof you are not who you claim, otherwise, you would have known.
Sorry bub, you lose, try Google or search the board, I have posted it several times with the links.
I thought the poor were the bad guys........
In the debate about poverty, critics argue that government assistance saps initiative and is unaffordable. After exploring the issue, I must concede that the critics have a point. Here are five public welfare programs that are wasteful and turning us into a nation of takers.
First, welfare subsidies for private planes. The United States offers three kinds of subsidies to tycoons with private jets: accelerated tax write-offs, avoidance of personal taxes on the benefit by claiming that private aircraft are for security, and use of air traffic control paid for by chumps flying commercial.
... Second, welfare subsidies for yachts. The mortgage-interest deduction was meant to encourage a home-owning middle class. But it has been extended to provide subsidies for beach homes and even yachts.
... Third, welfare subsidies for hedge funds and private equity. The single most outrageous tax loophole in America is for carried interest, allowing people with the highest earnings to pay paltry taxes. They can magically reclassify their earned income as capital gains, because that carries a lower tax rate (a maximum of 23.8 percent this year, compared with a maximum of 39.6 percent for earned income).
... Fourth, welfare subsidies for Americas biggest banks. The too-big-to-fail banks in the United States borrow money unusually cheaply because of an implicit government promise to rescue them. Bloomberg View calculated last year that this amounts to a taxpayer subsidy of $83 billion to our 10 biggest banks annually.
... Fifth, large welfare subsidies for American corporations from cities, counties and states. A bit more than a year ago, Louise Story of The New York Times tallied more than $80 billion a year in subsidies to companies, mostly as incentives to operate locally.
http://www.nytimes.com/2014/03/27/opinion/kristof-a-nation-of-takers.html?_r=0
I enjoy the subsidy for private planes. For me it's $2M/year 100% deduction. Thank You Republicans!
I thought the poor were the bad guys........
http://www.nytimes.com/2014/03/27/opinion/kristof-a-nation-of-takers.html?_r=0In the debate about poverty, critics argue that government assistance saps initiative and is unaffordable. After exploring the issue, I must concede that the critics have a point. Here are five public welfare programs that are wasteful and turning us into a nation of takers.
First, welfare subsidies for private planes. The United States offers three kinds of subsidies to tycoons with private jets: accelerated tax write-offs, avoidance of personal taxes on the benefit by claiming that private aircraft are for security, and use of air traffic control paid for by chumps flying commercial.
... Second, welfare subsidies for yachts. The mortgage-interest deduction was meant to encourage a home-owning middle class. But it has been extended to provide subsidies for beach homes and even yachts.
... Third, welfare subsidies for hedge funds and private equity. The single most outrageous tax loophole in America is for carried interest, allowing people with the highest earnings to pay paltry taxes. They can magically reclassify their earned income as capital gains, because that carries a lower tax rate (a maximum of 23.8 percent this year, compared with a maximum of 39.6 percent for earned income).
... Fourth, welfare subsidies for Americas biggest banks. The too-big-to-fail banks in the United States borrow money unusually cheaply because of an implicit government promise to rescue them. Bloomberg View calculated last year that this amounts to a taxpayer subsidy of $83 billion to our 10 biggest banks annually.
... Fifth, large welfare subsidies for American corporations from cities, counties and states. A bit more than a year ago, Louise Story of The New York Times tallied more than $80 billion a year in subsidies to companies, mostly as incentives to operate locally.
I enjoy the subsidy for private planes. For me it's $2M/year 100% deduction. Thank You Republicans!
LOL
Yeah.
LOL
NetJets, 2014 Global 6000.
LOL
Yeah.
LOL
NetJets, 2014 Global 6000.
You claim to be rich, yet only own a time share in a jet?
Less money, new jet every two years, no headaches of maintenance, employees, parking, can trade down for runway size, etc.
And you claim the government cuts you a $2 million dollar check for that time share?
I've never claimed that. Like any share, It's 100% deductible as a loss.
I've never claimed that. Like any share, It's 100% deductible as a loss.
I thought the poor were the bad guys........
http://www.nytimes.com/2014/03/27/opinion/kristof-a-nation-of-takers.html?_r=0In the debate about poverty, critics argue that government assistance saps initiative and is unaffordable. After exploring the issue, I must concede that the critics have a point. Here are five public welfare programs that are wasteful and turning us into a nation of takers.
First, welfare subsidies for private planes. The United States offers three kinds of subsidies to tycoons with private jets: accelerated tax write-offs, avoidance of personal taxes on the benefit by claiming that private aircraft are for security, and use of air traffic control paid for by chumps flying commercial.
... Second, welfare subsidies for yachts. The mortgage-interest deduction was meant to encourage a home-owning middle class. But it has been extended to provide subsidies for beach homes and even yachts.
... Third, welfare subsidies for hedge funds and private equity. The single most outrageous tax loophole in America is for carried interest, allowing people with the highest earnings to pay paltry taxes. They can magically reclassify their earned income as capital gains, because that carries a lower tax rate (a maximum of 23.8 percent this year, compared with a maximum of 39.6 percent for earned income).
... Fourth, welfare subsidies for Americas biggest banks. The too-big-to-fail banks in the United States borrow money unusually cheaply because of an implicit government promise to rescue them. Bloomberg View calculated last year that this amounts to a taxpayer subsidy of $83 billion to our 10 biggest banks annually.
... Fifth, large welfare subsidies for American corporations from cities, counties and states. A bit more than a year ago, Louise Story of The New York Times tallied more than $80 billion a year in subsidies to companies, mostly as incentives to operate locally.
Another idiot that doesn't understand what a subsidy is is not proof that tax breaks are subsidies.
Subsidies are any monetary contribution, grant, or aid. Aid is tax deductions.
By the way, airport fees are paid by private planes, so they help pay for the air traffic controllers. If you don't like that I don't really know what to say to you.
Landing fees are paid by every plane. Next time you fly take a look at the additional fees you pay which I don't. Additionally, thanks to the guys you've been voting for for years, I get to deduct the entire amount, you don't.
