GOP Senator: 'Government Is Subsidizing The Lifestyles Of The Rich And Famous', page 1

GOP Senator: 'Government Is Subsidizing The Lifestyles Of The Rich And Famous'

Tom Coburn: $30 Billion In Millionaires Aid Is 'Sheer Washington Stupidity'

WASHINGTON -- Millionaires are receiving billions in taxpayer-funded support every year that helps them pay for everything from child care to bad debts to boats and vacation homes, according to a report released Monday by Sen. Tom Coburn.

People who individually earned more than a million dollars in 2009 even managed to collect a total of nearly $21 million in unemployment insurance.

"From tax write-offs for gambling losses, vacation homes, and luxury yachts to subsidies for their ranches and estates, the government is subsidizing the lifestyles of the rich and famous," wrote Coburn, an Oklahoma Republican, in an accompanying letter. "Multimillionaires are even receiving government checks for not working. This welfare for the well-off -- costing billions of dollars a year -- is being paid for with the taxes of the less fortunate."

Calling the giveaways "sheer Washington stupidity," Coburn detailed in the study more than $30 billion a year that comes out of the U.S. Treasury to aid people who make more than a million a year.

PDF report is HERE

Coburn is a rare breed of Republican - a pragmatic fiscal conservative, who may stray into neocon territory (Patriot Act, usually unequivocal support of military projects), but at other times surprisingly centrist with a good common sense toward the budget (even stood up to Norquist). If more republicans were like him and saw the fallacy of Washington politics that continually favors the wealthy then there's hope yet.

One area his report didn't focus on, and should have, is how the wealthy use corporate tax loopholes to hide their personal wealth.

I'd love to see this guy and Bernie Sanders locked in a room and hammer out a practical budget (maybe throw Ron Paul in there, too).

reply to post by Blackmarketeer

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I'm sick of these damn wealthy freeloaders who are leeching off of the wealthy job creators who complain about the poor freeloaders leeching off of the wealthy job creators!

reply to post by Blackmarketeer

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Coburn is a rare breed of Republican - a pragmatic fiscal conservative, who may stray into neocon territory (Patriot Act, usually unequivocal support of military projects), but at other times surprisingly centrist with a good common sense toward the budget (even stood up to Norquist). If more republicans were like him and saw the fallacy of Washington politics that continually favors the wealthy then there's hope yet.

Hooray for common sense! Way to go, Coburn. If this trend continues, there's hope for the country, after all.

reply to post by TupacShakur

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I'm sick of this entire materialistic system.

reply to post by Blackmarketeer

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This is complete pack of lies. The problem is on Wall Street with bankers, investment houses, corporations, and all rich people! How dare anyone blame our caretakers for...for...anything bad and stuff! Just ask OWS! They will tell you, too!

/TOA

reply to post by illuminatislave

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You can go ahead and call out their names.

I believe one of them shares a name with a very famous character from the movie "The Matrix."

Haha, I kid. Don't start a political # storm on ATS. We are not GLP.

About the article, it's further confirmation that old money stays old money.

We're all just their source of labor. Accept it, or don't. I couldn't care less.

Originally posted by TheOneElectric
reply to post by illuminatislave

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You can go ahead and call out their names.

I believe one of them shares a name with a very famous character from the movie "The Matrix."

Haha, I kid. Don't start a political # storm on ATS. We are not GLP.

About the article, it's further confirmation that old money stays old money.

We're all just their source of labor. Accept it, or don't. I couldn't care less.

I'm not calling out names because I'll have a message in my inbox, while certain folks here continue to politically bait and troll without as much as a slap on the wrist. In fact, I wonder if my above post will fetch a warning and or banning

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