Skip to comments.Health, housing get greatest federal subsidies
Posted on 07/24/2012 5:04:42 PM PDT by markomalley
A study of federal subsidies of various sectors of the economy released Tuesday says that health care and housing combined to reap almost $1 trillion in support in the most recent year for which data was available.
The study funded by the Pew Charitable Trusts said that taxpayers subsidized health care by $743 billion in 2010, while a set of generous tax breaks was the main driver in $227 billion worth of subsidies for the housing industry.
The Pew study says that various federal subsidies like tax breaks, federal grants and other government contracts totaled $1.4 trillion. It shows that much-criticized subsidies for farmers and producers of clean energy are relatively small compared to those propping up the health care and housing sectors.
The group says $460 billion of the subsidies come as tax breaks like the mortgage-interest deduction. Such breaks are called tax expenditures, which are defined as spending that's done through the tax code.
(Excerpt) Read more at news.yahoo.com ...
Nonprofits get 8x10^10 dollars per year from the government in tax breaks and direct expenditures according to the same source Pew cites:
Wonder why the nonprofit Pew doesn’t include that fact in it’s report LOL!