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Over Half of All US Tax Subsidies Go to Four Industries

Monday, 14 November 2011 04:22 By Joe Romm, Think Progress | Report

Citizens for Tax Justice has analyzed corporate tax rates from 2008 to 2010. The report [PDF] examines over half of the Fortune 500 companies

Perhaps it’s no surprise that the richest industries get the biggest subsidies, starting with finance and Big Energy.  That’s how the 1% operate.

But hey, Solyndra got a $500 million loan and went bankrupt so that is story the media focuses on over and over again, rather than the big robbery in broad daylight.

h/t Think Progress and Daily Kos

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Over Half of All US Tax Subsidies Go to Four Industries

Monday, 14 November 2011 04:22 By Joe Romm, Think Progress | Report

Citizens for Tax Justice has analyzed corporate tax rates from 2008 to 2010. The report [PDF] examines over half of the Fortune 500 companies

Perhaps it’s no surprise that the richest industries get the biggest subsidies, starting with finance and Big Energy.  That’s how the 1% operate.

But hey, Solyndra got a $500 million loan and went bankrupt so that is story the media focuses on over and over again, rather than the big robbery in broad daylight.

h/t Think Progress and Daily Kos

Truthout doesn't take corporate funding - this lets us do the brave reporting and analysis that makes us unique. Please support this work by making a tax-deductible donation today - click here to donate.


Hide Comments

blog comments powered by Disqus