Thursday, November 07, 2013

Farm cash for billionaires

Why give cash to billionaire Paul Allen? You thought checks for farmers were to help struggling families to keep their farms. Paul Allen, Charles Schwab and other billionaires are supported by you and me.

Seattle Times
The federal government paid $11.3 million in taxpayer-funded farm subsidies from 1995 to 2012 to 50 billionaires or businesses in which they have some form of ownership, according to a report released Thursday by the Environmental Working Group, a Washington-based research organization.

The billionaires who received the subsidies or owned companies that did include Microsoft co-founder Paul Allen; investment titan Charles Schwab; and S. Truett Cathy, owner of Chick-fil-A. The billionaires who got the subsidies have a collective net worth of $316 billion, according to Forbes magazine.

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