[{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/foodstamps.org\/Articles\/Article\/ID\/175\/the-downside-of-subsidies-they-sap-initiative#BlogPosting","mainEntityOfPage":"https:\/\/foodstamps.org\/Articles\/Article\/ID\/175\/the-downside-of-subsidies-they-sap-initiative","headline":"The Downside of Subsidies: They Sap Initiative","name":"The Downside of Subsidies: They Sap Initiative","description":"Did you know that the government gives subsidies to the rich? See how they write off yachs, jets and more!","datePublished":"2018-07-06","dateModified":"2018-07-26","author":{"@type":"Person","@id":"https:\/\/foodstamps.org\/author\/admin#Person","name":"admin","url":"https:\/\/foodstamps.org\/author\/admin","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/e26111862ca029071a00a76fae48c51b?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/e26111862ca029071a00a76fae48c51b?s=96&d=mm&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"FoodStamps.org","logo":{"@type":"ImageObject","@id":"https:\/\/foodstamps.org\/wp-content\/uploads\/2018\/07\/FS_Logo-2.png","url":"https:\/\/foodstamps.org\/wp-content\/uploads\/2018\/07\/FS_Logo-2.png","width":600,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/foodstamps.org\/wp-content\/uploads\/2018\/07\/FS_Logo-2.png","url":"https:\/\/foodstamps.org\/wp-content\/uploads\/2018\/07\/FS_Logo-2.png","width":100,"height":100},"url":"https:\/\/foodstamps.org\/Articles\/Article\/ID\/175\/the-downside-of-subsidies-they-sap-initiative","about":["SNAP News"],"wordCount":496,"keywords":["175"],"articleBody":"The New York Times is known for having an extremely high standard of journalism, placing an emphasis on reporting the facts without letting views muddle the truth. They have an ability to cut through all the superfluous layers and present a common sense view. And with Nicholas Kristof\u2019s latest columns, food stamps and other subsidies are examined for their usefulness.Private PlanesKristof makes his first point\u00a0about the super wealthy with private jets receiving subsidies in one of three ways to make lives easier, because as well know, the upkeep of a jet keeps many up at night. The ultra rich can get quick tax write-offs, not having to pay taxes on the jet if they \u201cuse\u201d it for security, and having taxpayers foot the bill for their using air traffic control.YachtsIf owning a jet is either too difficult or creates an appetite for other luxury vehicles, the government has the wealthy\u2019s backs. The government took money away from those sap-sucking poor and their public housing, and gave it to a group that really needs it: yacht owners, presumably because they need a refuge from their rich-person problems.Hedge Funds and Private EquityEveryone knows that it takes money to make money, so understandably, the rich can\u2019t be taxed so much that they\u2019re left with little opportunity to grow their wealth. So, a loophole was created for them where they can call their earned income as capital gains, earning them a maximum tax rate of 23.8% (instead of 39.6% for earned income).BanksLest the reader think that the government only wants to ensure individuals are able to scrape by, they also look out for financial institutions. These venerable bedrocks of our society, burdened with the great responsibility of keeping safe our mon\u2014sorry, it can\u2019t be written with a straight face. But the 10 largest banks are laughing all the way to the, well, banks with the taxpayer subsidy of $83 billion each year.Corporations in Cities, Counties and StatesRobert Frost once wrote that good fences make good neighbors, and the government agreed, giving local corporations $80 billion each year to stay within their borders.Kristof finishes off by making the point that yes, it\u2019s possible for single mothers to use subsidies as motivation to get married and that also yes, parents can take subsidies and use them for drugs instead of food for their children.But perhaps most poignantly, Kristof writes \u201csubsidies for the poor do actually reduce hunger, ease suffering and create opportunity, while subsidies for the rich result in more private jets and yachts. \u2026 After all, quite apart from the waste, we don\u2019t want to coddle zillionaires and thereby sap their initiative!\u201d"},{"@context":"https:\/\/schema.org\/","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"name":"Articles","item":"https:\/\/foodstamps.org\/Articles\/#breadcrumbitem"},{"@type":"ListItem","position":2,"name":"Article","item":"https:\/\/foodstamps.org\/Articles\/\/Article\/#breadcrumbitem"},{"@type":"ListItem","position":3,"name":"ID","item":"https:\/\/foodstamps.org\/Articles\/\/Article\/\/ID\/#breadcrumbitem"},{"@type":"ListItem","position":4,"name":"175","item":"https:\/\/foodstamps.org\/Articles\/\/Article\/\/ID\/\/175\/#breadcrumbitem"},{"@type":"ListItem","position":5,"name":"The Downside of Subsidies: They Sap Initiative","item":"https:\/\/foodstamps.org\/Articles\/Article\/ID\/175\/the-downside-of-subsidies-they-sap-initiative#breadcrumbitem"}]}]