Most Americans Get ‘Free Stuff’ From The Government
“virtually every American gets some kind of government subsidy, from people who have mortgages or employer-sponsored health care (big tax deductions) to those who work for or invest in big companies (big corporate tax subsidies). Recipients of Social Security and Medicare get back far more in benefits than they paid in taxes.
Benefits to people who are not poor often equal or dwarf the cost of those for the poor. The home mortgage interest deduction, which the Congressional Budget Office found largely benefits the top one-fifth of income earners, cost the federal government about $70 billion in 2013; food stamps cost the government $74 billion last year. The tax break for employers who provide health insurance cost Washington $250 billion in 2013.
Medicare, which is available to all seniors regardless of income level, is more expensive ($587 billion in 2013) than Medicaid ($449 billion), the health care program for the poor, and an average-income couple retiring this year will get back three times more in Medicare benefits than they paid in Medicare taxes.”
“Among the biggest recipients of government generosity are corporations, which receive a multitude of federal and state tax breaks and incentives. These subsidies, sometimes called “corporate welfare,” primarily benefit the shareholders and executives of the nation’s largest companies. As of last year, 96 percent of Fortune 500 CEOs were white, and white investors typically have three times as much money in the stock market as nonwhites. Investors are not direct recipients of corporate welfare, but the value of their holdings is shaped by any federal, state and local funds going to the publicly held corporations.”