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Sen. Coburn: Feds Should Stop Subsidizing Wealthy (Nov 14, 2011)

OKLAHOMA CITY (AP) — U.S. Sen. Tom Coburn is releasing a report critical of government subsidies to wealthy Americans.

Coburn on Monday released the 37-page report titled "Subsidies of the Rich and Famous."

The report found that in an average year, those earning $1 million or more each year benefit from tax breaks and federal grant programs totaling $30 billion. His report noted that in tax year 2009, nearly 1,500 millionaires paid no federal income tax.

Among the government subsidies cited in the report are unemployment checks, farm subsidies and funds for the preservation of ranches and estates.

A fierce critic of what he describes as out-of-control federal spending, Coburn writes in the report that the government is "subsidizing the lifestyles of the rich and famous."

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