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Monday

Nov142011

Joe Romm - Over Half of All U.S. Tax Subsidies Go to Four Industries. Guess Which Ones?

November 14, 2011

By Joe Romm

http://www.nationofchange.org/over-half-all-us-tax-subsidies-go-four-industries-guess-which-ones-1321200366

Citizens for Tax Justice has analyzed corporate tax rates from 2008 to 2010. The report [PDF] examines over half of the Fortune 500 companies

Perhaps it’s no surprise that the richest industries get the biggest subsidies, starting with finance and Big Energy. That’s how the 1% operate.

Notably, 56 percent of the total tax subsidies went to just four industries: financial, utilities, tele-communications, and oil, gas & pipelines.

But hey, Solyndra got a $500 million loan and went bankrupt so that is story the media focuses on over and over again, rather than the big robbery in broad daylight.

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