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Diane Publishing Books
Subsidies of the Rich and Famous
Tom Coburn (au)
With families across the country struggling to make ends meet during these economically trying times, many are turning to the government ńˇ˝- some very reluctantly -ńˇ˝ for assistance. Almost half of all American households now receiving some form of government assistance. But most taxpayers will be surprised to learn who is receiving what. From tax write-offs for gambling losses, vacation homes, and luxury yachts to subsidies for their ranches and estates, the government is subsidizing the lifestyles of the rich and famous. Multi-millionaires are even receiving government checks for not working. This welfare for the well-off -- costing billions of dollars a year -- is being paid for with the taxes of the less fortunate, many who are working two jobs just to make ends meet, and with IOUs to be paid off by future generations. This report shows that the governmentńˇ╗s social safety net, which has long existed to catch those who are down and help them get back up, is now being used as a hammock by some millionaires, some who are paying less taxes than average middle class families. On average, each year, millionaires enjoy benefits from tax giveaways and federal grant programs totaling $30 billion. As a result, almost 1,500 millionaires paid no federal income tax in 2009. Figures and tables. This is a print on demand report.
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