Dumitru Posted August 10, 2015 Posted August 10, 2015 I'm wondering, does anybody know of any statistics on the amount of subsidies/tax breaks/incentives handed out to companies vs welfare/SS/etc handed out to working Joes in the US? Just a rough approximation, on a scale from 1:1000 to 1000:1. Thanks!
Alan C. Posted August 10, 2015 Posted August 10, 2015 According to this 2007 report from CATO, corporate subsidies are around $100B. However, given the age of that report, the figure is likely higher. The government spent $74B just on food stamps in 2014. $851B on Social Security, $836B on Medicare, Medicaid, CHIP, ACA subsidies. Most of the federal budget consists of giving free stuff to people.
Alan C. Posted August 11, 2015 Posted August 11, 2015 All wealth-transfer programs are financed by "paying into them." It's taking money from some people and giving it to others. In the case of SS and Medicare, all of the taxes that people pay to finance those programs is spent immediately on current beneficiaries.
WorBlux Posted August 11, 2015 Posted August 11, 2015 ... Most of the federal budget consists of giving free stuff to people. Minus a large overhead to administrative costs.
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