Wednesday, April 20, 2011


Be sure to use this with your conservative "get-government-off-my-back" friends ...

In class I've been led into discussions on tax exemptions, tax deductions and other financial gifts for the wealthy, which are all made possible because of favorable legislation and taxpayer funded subsidies. In fact, there's more than $1.3 trillion in exemptions and deductions that you and I pay for, which primarily benefit America's wealthiest class.

No, that's not a typo. $1.3 trillion is equivalent to our national deficit this year. And this figure doesn't include our most recent trillion dollar bailout.

Worse, much of what we transfer to America's wealthiest class has little to do with creating jobs, and much more to do with extracting wealth and getting you and me to subsidize "the market." Here's a small clip that explains how it happens (incredible, only 9,805 people have watched since it came out 3 years ago).

You can get David Cay Johnston's book, Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill), here.

- Mark

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