Oklahoma Republican Senator Tom Coburn just released a report, much to the chagrin of his fellow conservatives I'm sure, that notes that millionaires are reaping billions in taxpayer subsidies that help them pay for child care, second homes, yachts and luxury cruises around the globe as well.
He also notes that individuals with million dollar incomes even managed to collect almost $21 million in unemployment insurance in 2009 alone. What an outrage!
Coburn added, "From tax write-offs for gambling losses, vacation homes, and luxury yachts to subsidies for their ranches and estates, the government is subsidizing the lifestyles of the rich and famous."
He also mentioned, "Multimillionaires are even receiving government checks for not working. This welfare for the well-off - costing billions of dollars a year - is being paid for with the taxes of the less fortunate."
Senator Coburn called this $30 billion/year largesse to America's wealthiest, "sheer Washington stupidity."
I'll note just a few examples he gave: $74 million in unemployment checks, $21 billion in gambling losses, $28 billion in mortgage breaks for mansions, vacation homes and yachts and $89 million for preservation of ranches and estates.
Clearly these should be among the first areas our Congressional Super Committee should be looking at before they consider cutting vital services for the middle class and the working poor in America!