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This blog is dedicated to progressive and liberal thought. It also discusses new technology, how technology affects privacy and developments in Russia, China, Eastern Europe and the Middle East. Rightardia fully supports the rights of workers to organize, the feminist movement, and all Americans regardless or ethnicity, sex or gender.It uses humor, satire and parody to expose conservative thought for what it truly is: BS! Rightardia contributes to the DNC, DCCC, DSCC and MoveOn.Org.

Monday, November 14, 2011

Guess what the government subsidizes?

The Citizens for Tax Justice has analyzed corporate tax rates from 2008 to 2010. The report [PDF] examined 280 0f the Fortune 500 companies.

The richest industries get the biggest subsidies, starting with finance and Big Energy.

Fifty six percent of the total tax subsidies went to just four industries: financial, utilities, telecommunications, and oil, gas & pipelines.

Financial firms receive the highest percentage of federal tax subsidies, collecting nearly 17 percent of the federal subsidy pie.

The largest single recipient of federal tax subsidies over the last three years was Wells Fargo.

sources:

http://thinkprogress.org/romm/2011/11/13/366988/over-half-of-all-us-tax-subsidies-go-to-four-industries-guess-which-ones/

http://thinkprogress.org/economy/2011/11/07/363234/financial-tax-subsidies/

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