Report: 75 percent of corporate subsidies soaked up by richest companies

[hazlnut]

Report: 75 percent of corporate subsidies soaked up by richest companies


The takers, the leaches, those feeding off society….

Citing a study conducted by taxpayer watchdog group Good Jobs First, Dave Sirota at PandoDaily reports that Fortune 500 companies have received $63 billion in subsidies from the U.S. government with 75 percent of those dollars going to just 965 major corporations.

The study, called “Subsidizing the Corporate One Percent” shows that those dollars are not going to the entrepreneurs, who are often cited as the ‘job creators’, but to established highly profitable corporations.

Good Jobs First’s study shows that the beneficiaries of these subsidies are often hidden beneath complex layers of holding companies, shell firms and ownership agreements. The group discovered that an incredible $110 billion — or 75 percent of cumulative disclosed subsidy dollars — are going to 965 large companies.

Fortune 500 firms alone have received more than 16,000 subsidies at a total cost to U.S. taxpayers of $63 billion.

 

[CrusaderFrank]

Depreciation is the new "corporate subsidy" Obama ordered his drones to repeat it

Sent from my Chinese Supercomputer made from XBox parts Bush sent to China

 

[Mr. H.]

Why pay a tax on money that is earned, then spent again in order to generate more jobs and more revenue? That post is fucked up.