Shocker? Not to anyone who's been following this blog. Sen. Tom Coburn (R-OK), one of Congress' biggest deficit hawks, released a report on Monday showing that the federal government has paid over $9.5 billion in benefits to millionaires since 2003.
The memo is titled "Subsidies of the Rich and Famous" and addressed to taxpayers, and states that millionaires (those with an adjusted gross income greater than $1 million per year) receive benefits worth more than $30 billion from the government each year including tax giveaways and federal grant programs. And almost 1,500 millionaires paid no income tax to the federal government in 2009...
Find out more: http://www.businessinsider.com/coburn-report-on-subsidies-for-the-reach-2011-11
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