50 Billionaires Receive $6.3 Million in Federal Farm Subsidies

[Suzanimal]

Because some people think subsidies help poor farmers. No one here, I hope.


Nothing makes me happier than subsidizing the already rich. (Not that I like subsidizing anyone.)


(From EcoWatch)

Think federal farm subsidies only help out struggling family farmers? Think again.

Fifty members of the Forbes 400 list of the richest Americans—banking tycoon David Rockefeller Sr., Microsoft co-founder Paul Allen, stockbroker Charles Schwab and dozens of other billionaires—received at least $6.3 million in farm subsidies between 1995 and 2014, according to an Environmental Working Group (EWG) analysis. And these fat cats likely received even more subsidies through the federal crop insurance program

http://www.againstcronycapitalism.org/2016/04/50-billionaires-receive-6-3-million-in-federal-farm-subsidies/

[Suzanimal]

Look at all the poor farmers in Manhattan and Chicago.

http://i.imgur.com/MbgXwlu.png

[Ronin Truth]

Well, since a billion is a thousand millions, that just sounds barely like pocket change from farm subsidies, when split up 50 ways. <shrug> :p

[donnay]

Preview chart below to view the full list of 50 billionaires.
https://cdn.ewg.org/sites/default/files/blog/Billionaire_Chart_BW_RC.pdf

Just another reason to join a Community-supported agriculture (CSA).

[TheUglyTruth]

Good, it should help them offset some of the tens (or even hundreds) of millions that are stolen from them through taxation yearly.

[donnay]

Good, it should help them offset some of the tens (or even hundreds) of millions that are stolen from them through taxation yearly.

I hope that was sarcasm.

[Ronin Truth]

Good, it should help them offset some of the tens (or even hundreds) of millions that are stolen from them through taxation yearly.

Those subsidies are probably just more taxable income to them too. :p :rolleyes:

[TheUglyTruth]

I hope that was sarcasm.
It wasn't. I support people clawing back the money the federal government unjustly stole from them by any legal means possible.

[donnay]

It wasn't. I support people clawing back the money the federal government unjustly stole from them by any legal means possible.

LOL! That's truly rich.

The one's who lose are the very people paying taxes. These subsidies are nothing more than corporate welfare.

[TheUglyTruth]

LOL! That's truly rich.

The one's who lose are the very people paying taxes. These subsidies are nothing more than corporate welfare.

So you don't think they should try and get some of the tens of millions that are stolen from them yearly back?

[euphemia]

So you don't think they should try and get some of the tens of millions that are stolen from them yearly back?

Not at the expense of less wealthy people who also have money confiscated from them.

Your username would be more accurate if you took off "truth."

[TheUglyTruth]

Not at the expense of less wealthy people who also have money confiscated from them.
The least wealthy are stolen from the least. It's the wealthy who are most stolen from. They have a right to get back their stolen money.

http://taxfoundation.org/sites/taxfoundation.org/files/docs/Fig1_0.png



The less wealthy should also be trying to claw back as much of their stolen money back from the federal government and I applaud anyone who does so.

[donnay]

The least wealthy are stolen from the least. It's the wealthy who are most stolen from. They have a right to get back their stolen money.

http://taxfoundation.org/sites/taxfoundation.org/files/docs/Fig1_0.png

The less wealthy should also be trying to claw back as much of their stolen money back from the federal government and I applaud anyone who does so.


The Tax Foundation is funded by private donations from members, corporate donations, and donations from charitable foundation such as the Koch Foundation, Earhart Foundation, etc.

Board of Directors

On its website the Tax Foundation lists its board of directors, as of March 2009, as being:[3]

Dr. Wayne Gable (Chairman), Koch Charitable Foundations
James W. Lintott (Treasurer), Sterling Foundation Management LLC
The Honorable Bill Archer, PriceWaterhouseCoopers LLP
Dr. R. Glenn Hubbard, Columbia Business School
David P. Lewis, Eli Lilly and Company
Scott A. Hodge (Secretary, Ex-Officio), Tax Foundation




Sometimes you just have to step out of the box to get to the ugly truth.

[euphemia]

Actually, no. Our tax laws favor the wealthy, who accumulate assets and then use them for tax deductions. I do not feel confiscated tax dollars should be a transfer of wealth to people who have so much more than I do.

[TheUglyTruth]

Sometimes you just have to step out of the box to get to the ugly truth.
So you're saying that the graph is wrong? You don't believe that the wealthy pay proportionally more in taxation than their share of income?

Are these graphs also wrong?

http://mercatus.org/sites/default/files/Screen%20Shot%202013-08-12%20at%2010.25.46%20AM.png

http://taxfoundation.org/sites/taxfoundation.org/files/UserFiles/Image/Blog/Income_and_Tax_Shares_TPC_2010.jpg

[TheUglyTruth]

Actually, no. Our tax laws favor the wealthy, who accumulate assets and then use them for tax deductions.
How do you accumulate assets to use them as tax deductions on personal income taxes?

[donnay]

So you're saying that the graph is wrong? You don't believe that the wealthy pay proportionally more in taxation than their share of income?

Are these graphs also wrong?

http://mercatus.org/sites/default/files/Screen%20Shot%202013-08-12%20at%2010.25.46%20AM.png

http://taxfoundation.org/sites/taxfoundation.org/files/UserFiles/Image/Blog/Income_and_Tax_Shares_TPC_2010.jpg

All taxation is theft. But the taxation foundation is not touting that message.

[TheUglyTruth]

All taxation is theft.
Very good. So people should use every legal means possible to get their stolen money back, right?


But the taxation foundation is not touting that message.
The Foundation's stated mission is to "educate taxpayers about sound tax policy and the size of the tax burden borne by Americans at all levels of government."

And anyway, what does it matter what they're "touting"? Their chart is correct and I wasn't bringing the Foundation's work up.

[CaptUSA]

You don't believe that the wealthy pay proportionally more in taxation than their share of income?

Absolutely NOT! You are only looking at one form of taxation. As our friend Dr. Paul said, "Spending is the real tax".

When the prices of your goods and services go up, it affects the poorest the hardest. In addition, most wealthy people have assets that they pay for over many years. So they purchase them at one price now, but end up paying that fixed priced with dollars worth much less later on.

If you want to understand economics, you have to look at the big picture and not just one piece of the puzzle.

[TheUglyTruth]

Absolutely NOT! You are only looking at one form of taxation. As our friend Dr. Paul said, "Spending is the real tax".
Government spending hurts the rich more than it hurts the poor. Wealthy people's investments are distorted on a much larger scale than those of the less wealthy (because they invest much more). They are much more affected in absolute terms by government intervention.


When the prices of your goods and services go up, it affects the poorest the hardest. In addition, most wealthy people have assets that they pay for over many years. So they purchase them at one price now, but end up paying that fixed priced with dollars worth much less later on.
Except they don't pay a fixed price, they pay interest over the entire period which is almost always higher than the inflation rate (otherwise banks would not lend them the money)


If you want to understand economics, you have to look at the big picture and not just one piece of the puzzle.
The government leeches off the rich just as much as it leeches off the poor. Both the rich and the poor have a right to claw back their stolen wealth.

[CaptUSA]

Government spending hurts the rich more than it hurts the poor.

Someone get this new guy a copy of Austrian Economics 101, stat!

[TheUglyTruth]

Someone get this new guy a copy of Austrian Economics 101, stat!
That book must have been a bit hit at the Creative Writing 101 course at the local community college the writer enrolled in.

[Ronin Truth]

https://mises.org/library/rothbard-reader

[Zippyjuan]

Because some people think subsidies help poor farmers. No one here, I hope.



http://www.againstcronycapitalism.org/2016/04/50-billionaires-receive-6-3-million-in-federal-farm-subsidies/

Just to break it down farther, that was over a 20 year period so $6.3 million becomes $315,000 a year in subsidies. Divide that by 50 billionaires and it is $6,300 per person per year.

[Cleaner44]

Just to break it down farther, that was over a 20 year period so $6.3 million becomes $315,000 a year in subsidies. Divide that by 50 millionaires and it is $6,300 per person per year.

Just another fine example of the federal government helping those that can't help themselves.

[TheUglyTruth]

Just another fine example of the federal government helping those that can't help themselves.
Or it's people who are robbed of millions a year taking the opportunity to claw a few thousand back.

[Cleaner44]

Or it's people who are robbed of millions a year taking the opportunity to claw a few thousand back.

I agree with you that taxpayers should do everything legal to get as much of their money back as they can. Taxation is theft.

I also think that farm subsidies should be ended immediately.

To me this is much like when Ron Paul would vote against unconstitutional bills, but add in the earmarks for his constituents.

Taxpayers are being robbed and I have no problem with people doing all they can to get their money back.

[TheUglyTruth]

I agree with you that taxpayers should do everything legal to get as much of their money back as they can. Taxation is theft.

I also think that farm subsidies should be ended immediately.
Can't argue with any of that.

[oyarde]

The Dept of Ag needs abolished .

[TheUglyTruth]

The Dept of Ag needs abolished .
Do you receive subsidies on your peyote farm? Or are you one of the "Indians not taxed"?

[euphemia]

How do you accumulate assets to use them as tax deductions on personal income taxes?

Buy a more expensive house.

[TheUglyTruth]

Buy a more expensive house.
The mortgage interest deduction is only applicable on your main residence or second home, and it is limited to the first $1 million of debt. It won't make a dent in the taxable income of the super rich.

[oyarde]

Do you receive subsidies on your peyote farm? Or are you one of the "Indians not taxed"?

I would never accept a subsidy , if I could avoid property tax I would.

[Cleaner44]

The Dept of Ag needs abolished .

Hell yes it does!

I went to DC a few years back and met Ron Paul. While there I went past the building for the USDA... the thing is absolutely HUGE.

http://thornton.s3.amazonaws.com/project_content_images/3529/usdaUpgrade_1_main.jpg

There are way too many people spending way too much stolen money there.

[TheUglyTruth]

Hell yes it does!

I went to DC a few years back and met Ron Paul. While there I went past the building for the USDA... the thing is absolutely HUGE.

http://thornton.s3.amazonaws.com/project_content_images/3529/usdaUpgrade_1_main.jpg

There are way too many people spending way too much stolen money there.
It is an gorgeous building, though.

[Danke]

It is an gorgeous building, though.

I like all the observation/guard roof posts

[donnay]

Hell yes it does!

I went to DC a few years back and met Ron Paul. While there I went past the building for the USDA... the thing is absolutely HUGE.

http://thornton.s3.amazonaws.com/project_content_images/3529/usdaUpgrade_1_main.jpg


There are way too many people spending way too much stolen money there.


Flashback:

Why did the USDA buy submachine guns?
http://www.cnn.com/2014/09/23/politics/auditors-guns/

Agriculture Department puts in request to buy body armor
http://www.washingtontimes.com/news/2014/may/16/agriculture-department-puts-request-buy-body-armo/

[oyarde]

I like all the observation/guard roof posts
Castles are made to defend . In the good old days , the local War Lord helped pay for it , no longer .