Home » Business » Graphic Truths about Debt and Deficits

Graphic Truths about Debt and Deficits

Follow me on Twitter

NATIONAL DEBT?

Republican’s increase our public debt by lowering taxes on the wealthy, raising corporate welfare and starting wars. If you are surprised by this bar graph then you then you need to shop around for a more reliable news source.

Republican's increase our public debt by lowering taxes on the wealthy, raising corporate welfare and starting wars. If you are surprised by this bar graph then you then you need to shop around for a more reliable news source.

WAR SPENDING?

chart 1

CORPORATE WELFARE?

Corporate Welfare Grows to $154 Billion even in Midst of Major Government Cuts

 

The Embodiment of Corporate Welfare Himself - Mr. Moneybags

Editor’s Note: Even as the federal government executes major cutbacks, it’s giving huge subsidies in the form of tax breaks to industry, a fact legislators rarely acknowledge. The Boston Globe recently published a thorough and eye-popping report detailing the nature and extent of these breaks. We think it’s a must-read. 

By Pete Marovich

First published in the Boston Globe

WASHINGTON — Lobbying for special tax treatment produced a spectacular return for Whirlpool Corp., courtesy of Congress and those who pay the bills, the American taxpayers.

By investing just $1.8 million over two years in payments for Washington lobbyists, Whirlpool secured the renewal of lucrative energy tax credits for making high-efficiency appliances that it estimates will be worth a combined $120 million for 2012 and 2013. Such breaks have helped the company keep its total tax expenses below zero in recent years.

The return on that lobbying investment: about 6,700 percent.

These are the sort of returns that have attracted growing swarms of corporate tax lobbyists to the Capitol over the last decade — the sorts of payoffs typically reserved for gamblers and gold miners. Even as Congress says it is digging for every penny of savings, lobbyists are anything but sequestered; they are ratcheting up their efforts to protect and even increase their clients’ tax breaks. [snip] http://reclaimdemocracy.org/corporate-welfare-tax-breaks-subsidies/

__________________________________________________

Here is how the rise of corporate welfare looks in my state of New Jersey, and note in particular how it has grown under Gov. Chris Christie:

Advertisements

4 Comments

  1. Great essay. Your essay reminds me of the old saying… “LOAD THE WAGON PEOPLE, FORGET ABOUT THE MULES.”

  2. Hi there, I think your blog might be having browser compatibility problems.
    When I take a look at your website in Safari, it looks fine
    however when opening in Internet Explorer, it’s got some overlapping issues.
    I simply wanted to provide you with a quick heads up!
    Aside from that, excellent blog!

    • DataHeart says:

      Thanks!

      I don’t have the technical expertise to figure out why my blog is doing that. I will have to consult with a friend who is better at this technology. It sometimes seems as if the race for competitive advantage among Internet providers and software developers is causing the Internet to Devolve into a sea of Babel

  3. Usually I don’t learn post on blogs, but I wish to say that
    this write-up very forced me to check out and do it!
    Your writing taste has been amazed me. Thank you, quite nice article.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: