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"A leading Senate conservative is taking aim at tax breaks that he says amount to welfare for millionaires, a line of critique that usually comes from liberal Democrats. The report found millionaires enjoy about $30 billion worth of “tax giveaways” and federal grants every year — almost twice NASA’s budget, the report notes.
“From tax write-offs for gambling losses, vacation homes and luxury yachts to subsidies for their ranches and estates, the government is subsidizing the lifestyles of the rich and famous. Multimillionaires are even receiving government checks for not working,” Coburn said in a statement Monday. “This welfare for the well-off — costing billions of dollars a year — is being paid for with the taxes of the less fortunate, many who are working two jobs just to make ends meet, and IOUs to be paid off by future generations."
His staff found that millionaires received $74 million worth of unemployment checks from 2005 to 2009; $316 million in farm subsidies from 2003 to 2009; $89 million for the preservation of lands on ranches and estates in 2009 and 2010; and $7.5 million to compensate for property damages caused by disaster.
And it found that nearly 1,500 millionaires did not pay federal income tax in 2009."
Wow, this coming from Senator Tom Coburn, a Republican from Oklahoma. Now refresh my memory, isn't there some right wing talking point about 47% of low income "moochers" paying no federal income tax?
This is complete bull until the wealthy are getting tax breaks beyond what is available to anyone else. Name a single tax break that is available to the rich that is not also available to the middle class. Don't be upset if the wealthy take advantage of programs and you do not.
The report found millionaires enjoy about $30 billion worth of “tax giveaways” and federal grants every year — almost twice NASA’s budget, the report notes.
The arguement against the opening statement is....
"Rich people create jobs with their money"
Which is actually true, but it ignores the fact that welfare recipients create jobs with the demand they create.
And We give a whole lot more money to the rich people through tax breaks, then we do poor folks through welfare. Also, Welfare (actual welfare, food stamps are not welfare) is capped at a lifetime 5 year maximum draw. Tax rates go on forever.
The arguement against the opening statement is....
"Rich people create jobs with their money"
Which is actually true, but it ignores the fact that welfare recipients create jobs with the demand they create.
And We give a whole lot more money to the rich people through tax breaks, then we do poor folks through welfare. Also, Welfare (actual welfare, food stamps are not welfare) is capped at a lifetime 5 year maximum draw. Tax rates go on forever.
What tax breaks are you thinking of that are available to the wealthy and not to the rest of us as well?
It is strange how no matter how many times I ask this question, everyone seems to ignore it.
"A leading Senate conservative is taking aim at tax breaks that he says amount to welfare for millionaires, a line of critique that usually comes from liberal Democrats. The report found millionaires enjoy about $30 billion worth of “tax giveaways” and federal grants every year — almost twice NASA’s budget, the report notes.
“From tax write-offs for gambling losses, vacation homes and luxury yachts to subsidies for their ranches and estates, the government is subsidizing the lifestyles of the rich and famous. Multimillionaires are even receiving government checks for not working,” Coburn said in a statement Monday. “This welfare for the well-off — costing billions of dollars a year — is being paid for with the taxes of the less fortunate, many who are working two jobs just to make ends meet, and IOUs to be paid off by future generations."
His staff found that millionaires received $74 million worth of unemployment checks from 2005 to 2009; $316 million in farm subsidies from 2003 to 2009; $89 million for the preservation of lands on ranches and estates in 2009 and 2010; and $7.5 million to compensate for property damages caused by disaster.
And it found that nearly 1,500 millionaires did not pay federal income tax in 2009."
Wow, this coming from Senator Tom Coburn, a Republican from Oklahoma. Now refresh my memory, isn't there some right wing talking point about 47% of low income "moochers" paying no federal income tax?
Rather than lamenting the wealthy who do not contribute to the upkeep of government Coburn would do better attacking the tax code that permits, even encourages, tax evasion and subsidy. His report ought to lend ammunition to those who want to scrap the current tax code and to enact a flat tax.
A tax break is allowing someone to keep more of their money. That's fundamentally different from giving money to someone that was taken from someone else.
This is complete bull until the wealthy are getting tax breaks beyond what is available to anyone else. Name a single tax break that is available to the rich that is not also available to the middle class. Don't be upset if the wealthy take advantage of programs and you do not.
tax deductions on second homes, for example.
Now, if your rebuttal is that, "Anyone can buy a second home and enjoy that deduction, not just the rich!" .... then don't even bother responding with such trite nonsense.
Just based on the title of the thread - tax breaks are NOT welfare. It is earned income kept from government redistribution by following the rules in place.
If it's illegal, arrest the offenders.
If you don't like the loopholes, support a flat tax.
Otherwise, get over it.
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