1BROWNWRENCH
Amatuer Malthusian
...Except I never said it was Communism. I was making a joke about the OP's social life and his animosity towards Americans and Capitalism in general.
socialism for corporations, private profits for corporations
- Thread starter rickyb
- Start date
2. The Average U.S. Household Pays $400 to Feed and Clothe Walmart, McDonalds, and Other Low-Wage Workers
The Economic Policy Institute reports that $45 billion per year in federal, state, and other safety net support is paid to workers earning less than $10.10 an hour. Thus the average U.S. household is paying about $400 to employees in low-wage industries such as food service, retail, and personal care.
Walmart's well-advertised $1 raise will cost the company about $1 billion a year. Its profits last year were about $25 billion.
The sordid tale gets even worse, as told by a PBS report: Walmart has spent about $6.5 billion per year on stock buybacks to enrich investors, approximately the same total annual amount billed to taxpayers for food stamps, Medicaid, housing, and other safety net programs for the company's underpaid employees.
The Economic Policy Institute reports that $45 billion per year in federal, state, and other safety net support is paid to workers earning less than $10.10 an hour. Thus the average U.S. household is paying about $400 to employees in low-wage industries such as food service, retail, and personal care.
Walmart's well-advertised $1 raise will cost the company about $1 billion a year. Its profits last year were about $25 billion.
The sordid tale gets even worse, as told by a PBS report: Walmart has spent about $6.5 billion per year on stock buybacks to enrich investors, approximately the same total annual amount billed to taxpayers for food stamps, Medicaid, housing, and other safety net programs for the company's underpaid employees.
here is the list of corporations collecting the most subsidies. There is probably alot more government money that is not calculated in this list which corporations benefit from.
http://subsidytracker.goodjobsfirst.org/top-100-parents
Rank Parent Subsidy Value
Number of Subsidies
1 Boeing $13,876,679,613 1163
2 Intel $5,938,369,894 123
3 Alcoa $5,721,097,185 156
4 General Motors $4,180,501,338 591
5 Ford Motor $2,744,557,726 489
6 Sempra Energy $2,503,562,368 23
7 NRG Energy $2,263,787,822 158
8 Iberdrola $2,247,829,087 83
9 Fiat Chrysler Automobiles $2,177,967,643 208
10 Royal Dutch Shell $2,054,279,216 103
11 Nike $2,034,700,598 81
12 NextEra Energy $2,013,854,153 44
13 Dow Chemical $1,867,144,458 567
14 Nissan $1,833,077,291 64
15 Cerner $1,789,569,257 19
16 Cheniere Energy $1,694,386,026 12
17 Summit Power $1,625,158,397 7
18 Southern Company $1,475,955,575 81
19 Berkshire Hathaway $1,431,815,361 376
20 General Electric $1,369,796,216 1387
21 JPMorgan Chase $1,346,812,986 1036
http://subsidytracker.goodjobsfirst.org/top-100-parents
Rank Parent Subsidy Value
Number of Subsidies1 Boeing $13,876,679,613 1163
2 Intel $5,938,369,894 123
3 Alcoa $5,721,097,185 156
4 General Motors $4,180,501,338 591
5 Ford Motor $2,744,557,726 489
6 Sempra Energy $2,503,562,368 23
7 NRG Energy $2,263,787,822 158
8 Iberdrola $2,247,829,087 83
9 Fiat Chrysler Automobiles $2,177,967,643 208
10 Royal Dutch Shell $2,054,279,216 103
11 Nike $2,034,700,598 81
12 NextEra Energy $2,013,854,153 44
13 Dow Chemical $1,867,144,458 567
14 Nissan $1,833,077,291 64
15 Cerner $1,789,569,257 19
16 Cheniere Energy $1,694,386,026 12
17 Summit Power $1,625,158,397 7
18 Southern Company $1,475,955,575 81
19 Berkshire Hathaway $1,431,815,361 376
20 General Electric $1,369,796,216 1387
21 JPMorgan Chase $1,346,812,986 1036
Babagounj
Strength through joy
Warren Buffet the owner of Berkshire Hathaway is fighting the IRS over $1B in owed taxes . So why doesn't the IRS just take away one of those subsidies as payment ?
BRK-A trades at $219,502 a share .
BRK-B trades at $144.52 a share .
http://www.marketwatch.com/story/wa...g-him-about-840-million-in-one-day-2015-03-16
BRK-A trades at $219,502 a share .
BRK-B trades at $144.52 a share .
http://www.marketwatch.com/story/wa...g-him-about-840-million-in-one-day-2015-03-16
no idea.
regarding the IRS, i know the republicans were talking about cutting their budget because when the IRS has a higher budget they can actually collect alot more in lost taxes from the rich / corporations.
Babagounj
Strength through joy
I'll give you a clue , FOBHOS ( FO = friend of ).
moreluck
golden ticket member
MrFedEx
Engorged Member
OK. How much do Mitt Romney and Rush Limbaugh pay? I'll give you a clue. LSCAFH.
wkmac
Well-Known Member
Biggest socialist program in gov't seems to be the most wasteful and that's being kind.
JL 0513
Well-Known Member
Even if that is true, the rest of the "developed world" (as libs like to point out) who have single payer is set up where 100% of all healthcare and any R/D they do is taxpayer funded. Is that better? Those that support that system are complaining about tax dollars going to cancer research here?
JL 0513
Well-Known Member
Going with the premise of this thread, could we point out the massive benefit that UPS (and all other transportation companies) have because of tax dollars. Roads. Then again everything exists because of roads. Is that corporate welfare?
What a silly argument. Seems we forget that corporations pay billions in taxes to cover it all. They cover all government assistance paid out to the poor. Minor details though....
What a silly argument. Seems we forget that corporations pay billions in taxes to cover it all. They cover all government assistance paid out to the poor. Minor details though....
DriveInDriveOut
Inordinately Right
And then the poor spend the money, which goes back to the corporations...
Rinse and repeat.
UnconTROLLed
perfection
Who really wants an American woman though, anyway?
wkmac
Well-Known Member
Adding to the point. Corporations really don't pay those taxes either as that cost is built right into the cost of the goods and services which they sell to the public. In many respects it is the working and consuming public who pay the load and carry the burden. State Capitalism, Crony (phony) Capitalism, Finance Capitalism, Corp. Capitalism all use various forms and means of gov't privilege in order to exist and worst, externalize much of their costs onto the backs of taxpayers to boot.
One of the reasons that Mom and Pop stores can't compete with the Walmarts of the world is because they aren't politically linked to power and thus can't milk the treasury so they too can offer those low prices.
Yes we should point it out and yes it is also a form of welfare. If the business model can't exist without the state intervention, why is it not the same form of welfare that a worthless bum can't live the easy life without state intervention? Granted the Corp. form creates jobs and creates tax revenue but this raises the question is the jobs for the betterment of people and community or about revenue in order to drive more power and enable the cash nexus?
it IS true, and its regarding america only.
UnconTROLLed
perfection
Everything that sucks.
Sportello
Well-Known Member
Do you think the US Government doesn't fund healthcare R&D? It's second only to the DOD, well over $30b/year.
JL 0513
Well-Known Member
Of course I'm aware of that. And conservatives and libertarians support such funding, but not ALL R&D.
American private enterprise has created much of the life saving medical equipment and drugs that exist in the world. We are far and away the leader. Socialist countries pale in comparison to medical development.
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