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

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

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.

h/t Think Progress and Daily Kos

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