The Poor Supporting the Subsidized Rich: An exposé on corporate welfare

By Thomas G. Flanigan

THE POOR SUPPORTING THE SUBSIDIZED RICHThe book is an expose' on corporate welfare. The book is divided into six chapters with the first chapter explaining the budget and the budget process. Chapter two covers corporate welfare beginning with explaining congress-people giving tax breaks to corporations. Tax breaks totaled $1.22 trillion in 2014. Many corporations with lobbyists do not pay any taxes on their profits, including some of the largest corporations, Chapter three covers healthcare and corporate welfare. The Affordable Healthcare Act of America restricts Medicare in many phases of healthcare. Medicare cannot affect drug prices. One company raised the price on drugs 5,500 percent with Medicare helpless to stop it. Hospitals are not restricted in what they charge. A chargemaster sets the prices without Medicare having no say. Between 1998-2012, pharmaceuticals spent four times more on lobbyists than defense. This only includes the drug portion. Hospitals, and other types of healthcare also spent lavishly. Chapter four describes how states are giving education money to corporations to provide jobs for their constituents. Education has lost over 300,000 positions and cancelled orders on equipment, denying their students a chance to compete. In today's global economy , the students are losing out. Chapter five describes another way corporations are not paying taxes on their profits. This chapter explains many ways how corporations are shortchanging the American citizen. In 2014 corporations transferred $65 billion in profits to offshore tax havens. It is estimated that over $7 trillion is stashed in these offshore account One scheme is "deferring" paying taxes. They are deferred until they return home , except they are not coming home Another scheme is merging with a corporation from country with a lower tax base and paying this lower rate to that country. Other schemes are discussed. Chapter six brings it all together showing that everything is aimed at the poor supporting the subsidized rich. One way to end this trend is not voting for congress-people up for re-election. We can clean house in full sweep. A total of 469 congress-people (435 representatives and 34 senators) are up for re-election,

• Format: Paperback
• Language: English
• ISBN: 1532722184
• ISBN13: 9781532722189
• Release Date: November 2016
• Publisher: CreateSpace Independent Publishing Platform
• Length: 120 Pages
• Weight: 0.46 lbs.
• Dimensions: 8.5" x 0.3" x 5.5"