Average American Families Pays $6K a Year in Big Business Subsidies

[applegrove]

Average American Families Pays $6K a Year in Big Business Subsidies

by Paul Buchheit at Bill Moyers.com

http://billmoyers.com/2013/09/24/average-american-family-pays-6k-a-year-in-subsidies-to-big-business/

"SNIP............................


That’s over and above our payments to the big companies for energy and food and housing and health care and all our tech devices. It’s $6,000 that no family would have to pay if we truly lived in a competitive but well-regulated free-market economy.

The $6,000 figure is an average, which means that low-income families are paying less. But it also means that families (households) making over $72,000 are paying more than $6,000 to the corporations.

1. $870 for Direct Subsidies and Grants to Companies

The Cato Institute estimates that the US federal government spends $100 billion a year on corporate welfare. That’s an average of $870 for each one of America’s 115 million families. Cato notes that this includes “cash payments to farmers and research funds to high-tech companies, as well as indirect subsidies, such as funding for overseas promotion of specific US products and industries…It does not include tax preferences or trade restrictions.”

It does include payments to 374 individuals on the plush Upper East Side of New York City and others who own farms, including Bruce Springsteen, Bon Jovi and Ted Turner. Wealthy heir Mark Rockefeller received $342,000 to NOT farm, to allow his Idaho land to return to its natural state.



...........................SNIP"

[Liberal_in_LA]

1. kick