Bail Outs For The Rich!?!?
Oh... Now this was shocking news yesterday! Did you know our goverment has a bail out program for Millionaires? The rich 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 Sen. Tom Coburn.
We know about the BIG write offs: gambling losses, vacation homes, and luxury yachts to subsidies for their ranches and estates.
Bur guess what...they are collecting 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.
All totalled according to the Senator:
$30 billion a year that comes out of the U.S. Treasury to aid people who make more than a million a year.
Among the handouts for the well-heeled are:
$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
Does that shock you? This is sheer Washington Stupidity!