Friday, February 22, 2013

Let's Do a Little Math

Trey Smith

If every single resident of Allentown, PA or Surprise, AZ received an average of $300/month in Food Stamps for the entire year, it would add up to around $429 million. As I reported in an earlier post, that is the same amount as an anticipated federal tax refund for Facebook. Of course, unlike Facebook, none of the people receiving those Food Stamps would have over $1 billion in pre-tax income. In fact, some of those people might be lucky to bring home $25,000!

Since Facebook certainly isn't the only mega wealthy corporation that will receive a huge tax refund this year, using the calculation above, maybe we could plug in the population of Wyoming, Vermont or South Dakota! Heck, since I don't know how high the aggregate figure is, it might be more accurate to juxtapose the final tally to the population of states like Nebraska or Connecticut.

Whatever the true ratio is, it is mind boggling that a significant number of the wealthiest corporations in this nation constantly whimper and cry about the supposedly too high federal income tax rate and yet they don't ACTUALLY pay ANY federal income tax and many of these sniveling crybabies ACTUALLY receive huge refunds year after year after year!!!!!!!

To add insult to injury, the execs of these same corporations lecture the rest of us about patriotism and fiscal responsibility.

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