Perhaps Obama's biggest triumph...Posted By Jeffrey Counsil |
Gee, who would have ever thunk that if you take the beans from the bottom bag (excessive taxes on private sector), and put them in the top bag (redistribute), hand back less than 1% of those beans (welfare, taxes on govt. workers, etc), the bottom bag will eventually collapse and the top bag will come crashing down (BIG expanding government, shrinking private sector). Now, nobody has any beans left. BIG government and socialism just aren't worth a hill of beans! 8O
david elosser said:
...wealth redistribution!
Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds...At the same time, government-provided benefits -from Social Security, unemployment insurance, food stamps and other programs- rose to a record high during the first three months of 2010.
Finally! A policy success Obama can be proud of!
The trend is not sustainable, says University of Michigan economist Donald Grimes. Reason: The federal government depends on private wages to generate income taxes to pay for its ever-more-expensive programs. Government-generated income is taxed at lower rates or not at all, he says. "This is really important," Grimes says.
Well, shut my mouth! Who wudda ever figgered that!
http://www.usatoday.com/money/economy/income/2010-05-24-income-shifts-from-private-sector_N.htm
David E