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Posts Tagged ‘big business’

It should also be pointed out that much of the drug war is done by private corporate contractors, and these folks take their tax dollars they receive from the tax payers to fight the war on drugs, and use those dollars to purchase US politicians, who are happy to keep the war on drugs going.

So corporate executives, big banks (such as Citibank), US politicians, police, border patrol, and the heads of criminal drug cartels all have incentives to keep the war going, at the expense of everybody else.

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The average US household pays $6,000 a year in subsidies to big business, which is pretty much the same thing as saying the families of the 99 percent are paying $6,000 a year in subsidies to the families of the 1 percent. Pretty much, and not quite, but close enough.

$6,000 in subsidies? It’s also an understatement.

The Cato Institute estimates the US federal government spends $100 billion a year on corporate welfare. That’s an average of $870 for each one of America’s 115 million families.

The International Monetary Fund (IMF) reports US oil subsidies of $502 billion. That’s almost $4,400 per US family by taking into account “the effects of energy consumption on global warming [and] on public health through the adverse effects on local pollution.”

Of course, the Cato Institute didn’t consider war, such as US military expenditures, as well as US mercenaries. Remember, at the height of the occupation of Iraq, when the fighting was the worst, the US employed more mercenaries than it had military personnel in that nation. Those guys were a ton more expensive than US GI’s. At the low end of the pay scale, they cost about $120,000 per. That shows how much money privatization costs, rather than saves the US government since the yearly cost of a GI hovers around $45,000 a year.

As for other subsidies, a New York Times investigation revealed that $696 per family went for business incentives at the state, county and city levels. There is also $722 per family for interest rate subsidies for banks, $350 for retirement fund bank fees, $1,268 for overpriced medications, $870 for corporate tax subsidies, and $1,231 for revenue losses from corporate tax havens, such as the Caymen Islands.

Every family below the 1 percent is paying about $6,000 a year to help corporations push their profits to record levels, year after year, during a time when the middle class can hardly afford these subsidies. This has raised stock prices to record levels, along with dividend payments to the 1 percent. This is called an income redistribution scam, or rather, a series of them. These scams only exist because of the massive corruption of government at all levels in the US, through massive infusions of cash.

Check out the link below for more on the story.

Average American Family Pays $6,000 A Year in Subsidies to Big Business-BIll Moyers.com

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Big business makes a ton of its money off of or through the government. Take student loans, for example. Thirty years ago, Wall Street con artists convinced federal legislators to cut back on federal grants for students and to increase student loans. That’s because they found a way to profit from student loans. Buy the loans, bundle them, issue bonds against them, and sell the bonds to rich investors.

The money you pay for your loans goes in great part to those investors. In other words, your student loan debt is greater than what it would’ve been in the absence of these bonds, and you’ve become an indentured servant to the investor class the moment you take out a student loan.

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