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Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill), by David Cay Johnston
PDF Ebook Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill), by David Cay Johnston
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Review
If youre concerned about congressional earmarks, stock options (especially backdated options), hedge fund tax breaks, abuse of eminent domain, subsidies to sports teams, K Street lobbyists, the state of our health-care system, to say nothing of the cavernous gap between rich and poor, youll read this fine bookas I didwith a growing sense of outrage. "Free Lunch" makes it clear that its high time for We the People to stand up and be counted. John C. Bogle, founder and former chairman, The Vanguard Group With clarity, conciseness, and cool, fact-saturated analysis, Mr. Johnston, the premier investigative reporter on how industry and commerce shift risks and costs to taxpayers, sends the ultimate message to all Americanseither we demand to have a say or we will continue to pay, pay, and pay. Ralph NaderaIf youare concerned about congressional earmarks, stock options (especially backdated options), hedge fund tax breaks, abuse of eminent domain, subsidies to sports teams, K Street lobbyists, the state of our health-care system, to say nothing of the cavernous gap between rich and poor, youall read this fine bookaas I didawith a growing sense of outrage. "Free Lunch" makes it clear that itas high time for aWe the Peoplea to stand up and be counted.a aJohn C. Bogle, founder and former chairman, The Vanguard Group aWith clarity, conciseness, and cool, fact-saturated analysis, Mr. Johnston, the premier investigative reporter on how industry and commerce shift risks and costs to taxpayers, sends the ultimate message to all Americansaeither we demand to have a say or we will continue to pay, pay, and pay.a aRalph NaderaA journalistic missile launched against the myth that those who mooch off the government are mostly on the lower rungsa] This is a provocative, highly readable and well-documented work.a a"South Florida Sun-Sentinel" aAs an investigative reporter, Johnston is a big-game hunter. He skewers popular plutocrats like Buffett, digs up the dirt on unsavory sources of Paris Hiltonas fortune and details Apple executive Steve Jobsas backdated stock options thievery.a a"The Nation" aIf youare concerned about congressional earmarks, hedge fund tax breaks, subsidies to sports teams, K Street lobbyists, the state of our health-care system, to say nothing of the cavernous gap between rich and poor, youall read this fine bookaas I didawith a growing sense of outrage.a aJohn C. Bogle, founder and former chairman, The Vanguard Group aJohnston is an indefatigable reporter whose work recalls the muckraking epics of the Progressive era.a a"Portland Oregonian" aAn engaging look at how the superrich consistentlya and outrageouslyarely on public handouts while preaching about free markets and wasteful entitlement programs all the way to the bank.a a"Mother Jones"?A journalistic missile launched against the myth that those who mooch off the government are mostly on the lower rungs? This is a provocative, highly readable and well-documented work.? ?"South Florida Sun-Sentinel" ?As an investigative reporter, Johnston is a big-game hunter. He skewers popular plutocrats like Buffett, digs up the dirt on unsavory sources of Paris Hilton's fortune and details Apple executive Steve Jobs's backdated stock options thievery.? ?"The Nation" ?If you?re concerned about congressional earmarks, hedge fund tax breaks, subsidies to sports teams, K Street lobbyists, the state of our health-care system, to say nothing of the cavernous gap between rich and poor, you?ll read this fine book?as I did?with a growing sense of outrage.? ?John C. Bogle, founder and former chairman, The Vanguard Group ?Johnston is an indefatigable reporter whose work recalls the muckraking epics of the Progressive era.? ?"Portland Oregonian"
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About the Author
David Cay Johnston is a Pulitzer Prize–winning reporter who has been called the “de facto chief tax enforcement officer of the United States.” His most recent books, Perfectly Legal and Free Lunch, were New York Times bestsellers. He was a reporter for the New York Times for 13 years and now writes a column for Reuters. He also teaches at the Syracuse University College of Law and the Whitman School of Management, and he was recently elected to be board president of Investigative Reporters and Editors, Inc. He lives in Rochester, New York. Visit davidcayjohnston.com.
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Product details
Paperback: 336 pages
Publisher: Portfolio; Reprint edition (December 30, 2008)
Language: English
ISBN-10: 1591842484
ISBN-13: 978-1591842484
Product Dimensions:
5.5 x 0.8 x 8.2 inches
Shipping Weight: 12.8 ounces (View shipping rates and policies)
Average Customer Review:
4.5 out of 5 stars
217 customer reviews
Amazon Best Sellers Rank:
#47,500 in Books (See Top 100 in Books)
Reading level is "easy to understand" with basic language and easy to understand reports of events.Claims likely to raise eyebrows can be thinly referenced, but the handful I checked were readily verified. Details on Walmart required paying for information, but after paying up, the facts on file verified the author's reportage. My thinking is this is an accurate (read, 'high quality') reference on the state of the nation's political and economic degeneration.Not really sure what to say except that even well-informed readers who value America's tradition of economic opportunity for unexceptional Americans are likely to be sickened reading detailed accounts of the purposeful degradation of America's private sector middle class at the hands of local, state, and federal officials under the influence of corporations seeking cash or protection (or both) from ordinary taxpayers.There are any number of similar books which are in essence follows of the 1980s-1990s "America" trilogy by Barlett and Steele. They wrote about it when the snake's head was just coming out from under the rock. Now the snake has ordinary Americans in its mouth.Whether America's character can be restored to the level of the nation that once flew the "Don't Tread On Me" flag remains to be seen.
Fairly well written, this book gathers data on current give away policies supported by government programs and/or laws which were lobbied into existence for the sole purpose of benefiting already powerful and wealthy individuals or businesses in America. Meanwhile, the average American, uninformed and rapidly losing his/her place in the vanishing middle class, struggles to get by while the privileged siphon to themselves more and more of the resources and money available for their own personal greed and endless bulging of their mountains of wealth. If allowed to continue, this situation will definitely lead to the end of our middle class and finally the end of our democracy. If anyone cares, get motivated now and take action. Demand change from our government officials!!!
Hang onto you Hat and Wallet - as David Cay take you into the realm of the privelged few - the feed on the efforts of those of us that produce! I really don't understand how D. C. does it without a heart attack! I've seen him before Congress and the House testafying; it appers the problem is - those are the folks that have a better idea for us - and his words are for you and me. What to do? Another important read - from which you can actually begin to put together what you are really going through in this economy. Not a fun read - but and important one!
Johnson is an excellent writer and reporter, this is yet another very disturbing account of how the privileged few abuse our systems! I see no way to change this trend other than for citizens of the USA to limit contributions to our representatives, as presently the people are not being served as designed by our constitution!
I've read all three books in this trilogy and I strongly recommend everyone read these. They will definitely cause some increased concern and probably result in some good conversations, which is what the US needs. The majority of news reported rarely if ever provides this much information in a clear and concise presentation of facts and views. One of the best things about the book are the last two chapters where possible solutions are discussed and where many of the references are provided.After checking the book out from the library and reading it I was so impressed that I bought the trilogy for my personal library, so I will have it on hand to review again when I'm discussing the subject with others.
Like Mr. Johnston's outstanding, previous book, "Perfectly Legal," he explains in laymen's terms the horrible actions by Washington politicians as well as corporations and the obnoxiously rich. In "Free Lunch," the author clearly shows how companies such as Cabela's and Tyco alarm systems rob from taxpayers and can account for their wealth by this thievery. He also lays bare the tax subsidies in such areas as golf courses, home-title insurance, electrical deregulation, healthcare, tax shelters, the prescription drug giveaway, railway safety, hedge funds,and stock options awarded to even poor performing executives. Warren Buffett and Steve Jobs halos also get tarnished. All these corporate welfare laws have been designed at the expense of American society. He also shows how this is a systemic problem of massive proportions. This book is neither a conservative nor liberal screed, but an argument about why despite America's wealth doubling since 1980 most citizens are working harder and struggling to make a living. We're in this pickle not because of services to the poor but due to political largess towards the wealthy. The book was published in 2007 before the market meltdown and Mr. Johnston saw it coming. As the author said, "Policies that work against the general welfare undermine a society." I wish everyone would read this wonderful, infuriating, sometimes funny book and wake up.
I stumbled upon an anti-David Cay Johnston blog called "David Cay Johnston Watch". On it the author attempts and fails at a smear campaign on Mr. Johnston. Instead of attacking the authenticity of the data in the book, the blogger chose to attack Mr. Johnston himself. Why not attack the data? the facts? or at least the arguments made in "Free Lunch""? I still haven't found a credible attack on the facts, real life examples, and cold hard data that Johnston collected. Johnston points out over and over and over again that our system has been given over the super wealthy and powerful to take from the many to give to the few. Social welfare is not our problem, it is corporate welfare that hurts our markets, hurts our economy and only benefits a few. READ THIS BOOK!
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