The REAL “Entitlement” Programs Benefit the Rich
“Real entitlement programs are ones where beneficiaries do not contribute, like when we working taxpayers pay bankers hundreds of billions of dollars “interest” on their reserves, or pay for puffed-up and no-bid government contracts or farm and oil subsidies, or pay pharmaceutical companies full retail price instead of negotiating discounts, or “borrow” money from the Federal Reserve bankers instead of our U.S. Treasury, or start wars to benefit defense contractors, or bail-out bankers, and spend trillions of dollars buying gutted mortgage packages from banks, brokerage houses, and insurance companies. We taxpayers are also paying hundreds of billions of dollars in corporate welfare, subsidies, and tax loopholes.
Twelve U.S. corporations that made a collective $171 billion in profit from 2008 to 2010 got tax refunds of $2.5 billion and received $62.4 billion in subsidies. Why, that’s even better than your tax rate, Mitt.”