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Table of contents

In Washington, D.

Your Tax Dollars Subsidizing Scottie Pippen, Ted Turner, and Jon Bon Jovi?

So who are the DC elite pocketing the farm subsidies? Thomas J.

Vilsack- current Agriculture Secretary in the President Barack Obama administration is taking his farm subsidy check in Iowa. The subsidies are bi-partisan: William T. Most of the subsidy related to conservation payments as well as cotton subsidies. Chuck E. Of course, the lobbyists get in on the action too. The U. Department of Agriculture promotes:. Housing subsidies promote homeownership and support the construction industry. Housing subsidies come in two forms: interest rate subsidies and down-payment assistance.

Common Agricultural Policy: Rich List receive millions in EU subsidies

The biggest interest rate subsidy is the mortgage interest deduction on the federal income tax. There are also some smaller interest subsidies that reduce mortgage costs for low-income families. The federal government also matches the amount low-income families save for a down-payment. These direct homeowner subsidies paled in comparison to what the federal government spent to support its Federal Housing Authority mortgage loan guarantee program.

The real trouble started when it created two government-sponsored enterprises. Fannie Mae and Freddie Mac provided a secondary market to buy these mortgages from banks. But they bought too many.

Even this wasn't enough, and the government nationalized them. Was the bailout a subsidy? Yes, in a sense.

Government Intervention - Producer Subsidies

The agencies replaced the private sector's role in the home mortgage market in the United States. The goal was to jump-start the economy after the recession.

It also aimed to encourage people to buy more fuel-efficient vehicles and lessen U. More than half of the Obamacare subsidies are designed to go to middle-income families. These are hard-working parents. These are also jobs that don't provide health insurance. Although The Balance uses cookies to provide you with a great user experience.

By using The Balance, you accept our. Fiscal Policy U. By Kimberly Amadeo. What Is a Subsidy? Cash subsidies, such as the grants mentioned above. Tax concessions, such as exemptions, credits, or deferrals. Assumption of risk, such as loan guarantees.

Tax Subsidies and Tax Exempt status of the Rich and Famous

Government procurement policies that pay more than the free-market price. These are all considered subsidies because they reduce the cost of doing business. Boy, was I wrong. House Agriculture Committee Chairman Frank Lucas R-OK wanted to lock in record farm income and these extravagant subsidies in perpetuity without any trigger to regularly review them.

In this case, there is some truth to that.

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