Biggest Welfare Recipients in USA
If I was to leave this as a question who would come to mind first ?
I know it depends mainly on who is informing you about such things. Mainstream media would have one believe it’s those inner cities or those living out in farms in middle America. There is some truth in those claims but the facts and numbers prove they aren’t the biggest welfare recipients in USA.
The common idea that the people on food stamps are lazy and want hand outs does not compare to the facts. Despite economic hardships, poor people get the blame. Fact is we find companies in profit getting incredible tax breaks
Numbers speak for themselves
I came across a great article that listed the top 8 corporate welfare recipients
- Nike — $2.03 Billion.
- Royal Dutch Shell — $2.04 Billion.
- Fiat Chrysler Automobiles — $2.06 Billion.
- Ford — $2.52 Billion.
- General Motors — $3.58 Billion.
- Intel — $3.87 Billion.
- Alcoa — $5.64 Billion.
- Boeing — $13.18 Billion.
Get the Full report here at Cheatsheet.com
How to these tax breaks come about ?
The super rich seem to get the biggest breaks of all. The costliest welfare program is the for the richest of the rich, the 1 percent, the 1 percent who owns more then the bottom 40 percent.
A list of giveaways to the super rich goes as follows
1- Tax breaks for CEO Bonuses ( $7 Billion Yearly )
2- Tax breaks for Luxury Corporate Jets ( $300 Million Yearly )
3- Big Oil Tax Breaks ( $37.5 Billion Yearly )
4- Pharmaceutical Tax Breaks ( $270 Billion Yearly )
5- Capital Gains Tax Breaks ( $51 Billion Yearly )
6- Corporate Tax Breaks from State n local governments ( $80.4 Billion Yearly )
7- Big AG ( $18 Billion Yearly )
8- Wall Street ( $83 Billion Yearly )
9- Export/Import Bank Subsidies ( $112 Billion )
10- Federal Contracts For top 200 companies( $880 Billion Yearly )
The research done by usuncut.com
Clearly, I never said billions that many times in such short list in my life ever. Before we consider blaming people who most times are not happy to get hand outs. lets consider these numbers and put them into prospective of the economy needs.
Biggest recipients per state
The Washington post covered this and provided an updated list of the top recipients listed below
The full Report on – Washington post
What does that mean to Americans ?
The average Americans are paying more to the tax system, immigrants pay more to the tax system, illegal immigrants pay more to the tax system then some corporations. A revelation that was recently published discusses this further : from Post
Oxfam’s findings come in the wake of the Panama Papers leak, which revealed how the rich and powerful have used the Panamanian law firm Mossack Fonseca to establish offshore arrangements in order to avoid paying taxes in their own countries.
The organization estimates that $7.6 trillion is currently stashed in offshore tax havens. That’s more than the German and British economies combined, and roughly a 10th of the total world GDP in 2014.
“As Americans rush to finalize tax returns, multinational corporations that benefit from trillions in taxpayer-funded support are dodging billions in taxes,” Raymond C. Offenheiser, Oxfam America’s president
Military Welfare costs
The spending that goes to defense and military needs to be addressed as well. The National review did a detailed input into it. from the post
Recap: In GDP terms, we spend about a third on the military today compared to what we spent in the late 1950s. We spend almost exactly the same on interest on the debt. We spend 20 percent less on energy, transportation, the environment, and natural resources. And we spend almost four times as much on welfare. Again, that is in GDP terms, and our economy is a heck of a lot bigger than it was in 1957. As a share of all federal spending, welfare has gone from 23 percent of spending to 73 percent of federal spending. In constant-dollar terms, we spend 17.5 times as much. In nominal-dollar terms, we spend 150 times as much.
When someone tells you it’s the poor people, remind them of what you learned here today. This info is to help people understand that the economy is suffering for many reasons. The media is becoming more entertainment then actually reporting on important issues.
How can things get so far out of hand ? but since they can simply print money it’s fixable. What needs to be done is a new way to do things must be put together period.
It’s important for people to get involved and come up with better methods to spend money and tax breaks. America has over 300 million people and certainly there are solution makers among them. This is one thing you learn in life is you need to take action to make change.