Millionaires getting $30 BILLION in federal subsidies and refunds

Posted on November 14, 2011


Hey gang!  You know all those fear-mongering headlines about how the Republicans and Democrats in the “Super Congress” can’t find a mutually agreeable position on where to cut spending and/or raise taxes to meet the debt-reduction deadline of Nov. 23?  You know how they’re constantly babbling about “class warfare” and how it’s “unfair to expect the rich to pay more”?

Well, several of those same partisan swine in Congress are receiving a piece of $30 BILLION A YEAR in subsidies, credits and refunds that are paid to people who are MAKING MORE THAN $1 MILLION A YEAR. Yes, you read that right. The same people who are insisting that the federal debt *HAS* to be paid for off the backs of the poorest people in the country are SUCKING IN BILLIONS OF DOLLARS IN FEDERAL WELFARE.

Millionaires are receiving billions in taxpayer-funded support every year that helps them pay for everything from child care to bad debts to boats and vacation homes, according to a report released Monday by Oklahoma Republican Senator Tom Coburn.

People who individually earned more than a million dollars in 2010 even managed to collect a total of nearly $21 million in UNEMPLOYMENT PAYMENTS.

“From tax write-offs for gambling losses, vacation homes, and luxury yachts to subsidies for their ranches and estates,” Coburn said, “the government is subsidizing the lifestyles of the rich and famous.”

Federal money for millionaires in 2010 included:

  • $18.15 million in child care tax credits
  • $74 million in unemployment checks
  • $89 million for preservation of ranches and estates
  • $316 million in farm subsidies
  • $608 million in business entertainment deductions
  • $9 billion in retirement checks
  • $21 billion in gambling losses
  • $28 billion in mortgage breaks for mansions, vacation homes and yachts

Coburn compiled his findings in a report released today: Subsidies of the Rich and Famous.

If you’re not outraged by this, you need to either check your pulse or your bank account balance.  Me?  I’m incensed, to the point of writing to my “esteemed representatives in Congress” and potentially being thrown in jail for conveyance of a threat against a public official.  You don’t have to endanger your personal safety, but I do STRONGLY urge you to write your senators and representatives and tell them to END THIS POLICY AND PRACTICE IMMEDIATELY.

You can identify your Congressperson and obtain their e-mail address and fax number here.

Not to put too fine or subtle a tack on it, but you should be MAD AS HELL about this and telling those elected scum in Washington that YOU’RE NOT GOING TO TAKE IT ANYMORE.