Ten Examples of Welfare for the Rich and Corporations
Here are the top ten examples of corporate welfare and welfare for the rich. There are actually thousands of tax breaks and subsidies for the rich and corporations provided by federal, state and local governments but these ten will give a taste.
One: State and Local Subsidies to Corporations. An excellent New York Times study by Louise Story calculated that state and local government provide at least $80 billion in subsidies to corporations. Over 48 big corporations received over $100 million each. GM was the biggest at a total of $1.7 billion extracted from 16 different states but Shell, Ford and Chrysler all received over a billion dollars each. Amazon, Microsoft, Prudential, Boeing and casino companies in Colorado and New Jersey received well over $200 million each.
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