Rich get Richer off of Federal government subsidies

The rich get richer off of govt. subsidies

A new report from Sen. Tom Coburn (R-OK) says millionaires have received $9.5 billion in government benefits since 2003.


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(CBS News) The U.S. may technically be deep in debt, but that hasn't stopped billions of your tax dollars from going to the wealthy.


CBS News investigative correspondent Sharyl Attkisson reports the first-ever compilation of how millionaires are using the social safety net comes from fiscal conservative Sen. Tom Coburn (R-Okla). He's looked at tax breaks, government loans and other benefits showing that, in recent years, more than $9 billion has gone to those who are far from needy.



From tax write-offs for gambling losses, vacation homes and luxury yachts to subsidies for ranches and estates, billions of your tax dollars are supporting the lifestyles of the rich and famous. The new report from Coburn counts the ways.


Entitled "Subsidies of the Rich and Famous," it says millionaires have received $74 million in unemployment checks in recent years, $316 million in farm subsidies, $9 billion in retirement checks, and taken out $16 million in government-backed education loans for college.


Some big celebrities are among the beneficiaries: taxpayer-funded farm subsidies for NBA star Scottie Pippen and billionaire media titan Ted Turner.


Superstar Jon Bon Jovi paid only $100 in property taxes last year on his extensive N.J. real estate holdings because he "raises bees" on it and gets farm subsidies.

Pictures: Jon Bon Jovi


Bruce "the Boss" Springsteen gets farm subsidies for leasing property to an organic farmer and Quincy Jones, who produced the top-selling album of all time, Michael Jackson's "Thriller," got a $25,000 award from the taxpayer-funded National Endowment for the Arts for his contribution to music.


Pictures: Bruce Springsteen


Coburn says an award of "prestige" can be given to honor and recognize such megastars, but insists monetary payment is unnecessary -- and now unaffordable.


Taxpayer watchdog Leslie Paige works with Citizens Against Government Waste, a private, non-partisan, non-profit organization. She told CBS News, "Some of these programs are written so badly that, in fact, everybody's eligible for them, and the question has to be, and the taxpayers have to answer it -- are we OK with that? Are we OK with millionaires getting this money?"


Even millionaires who are out of work don't have to spend down their savings as fast as they might. They can collect unemployment on the shoulders of taxpayers. The IRS reports that 2,362 millionaires collected $20,799,000 in jobless benefits in 2009.


On "The Early Show," Attkisson added, "None of the celebrities mentioned answered requests for comment. And if there ever was a climate ripe for change, this could be the closest we've come. Facing a $15 trillion dollar debt, Congress is considering bills that would deny unemployment benefits to millionaires and cut farm subsidies for the wealthy. They're also talking about limiting Medicare and other entitlements for the rich."

Most Americans are fools, and Congress and the 1% just laughs at you sheep for being so dumb and complacent. Well, the truth is you deserve what you get because you let it happen and finance it as well !!!

Americans have allowed your government to sell you out for too long. It's time for you to take back Congress and restore legislation that protects yourselves, your environment, the creatures that share this planet with, and your posterity.

If you each do not do your part and take action now, the greed of big business and your lawmakers who suck up to them WILL at the very least destroy all quality of life.

This is no fiction as you have all the evidence you need to know the outcome of our present course. Environmental disasters, species on the brink of extinction and those already extinct, contaminated food and water, drugs that are as harmful as supposedly beneficial, out of control costs of living, famine, wars..... the list goes on and on.

None of these things will get better, only worse and history confirms this.

The People must act now. You must each do something if you are going to avoid the collapse of civilization as you know it and avoid creating a world of conflict, disease, and famine.

The most effective means of action are by the same means these calamities all occur; a complete disregard for the consequences of maximizing financial gain from private business ventures.
Here in the US, Congress supports such business ventures by making their schemes to maximize profits legal. Why ??? Because these business in turn donate vast sums of money to their political campaigns and graft. The irony is these vast amounts of funds come from the people, the majority, because they are just added into the cost of goods and services these companies peddle.

This is insane. To abolish this corruption you need to take away all political financial gain from Congress. The petitions below are a beginning to do just that.

Sign them if you agree, tell others and leave a legacy for your children and grandchildren.

Petition for full disclosure of Congressional Request for Taxpayer Funds

https://wwws.whitehouse.gov/petitions/!/petition/require-federal-agencies-reveal-special-funding-requests-members-congress-making-these-public-real/Sv4WRnHl

Petition to Abolish Special Interest Campaign Financing
http://http://www.getmoneyout.com/