The middle class now receives far more in government handouts than it pays in taxes.
This is very good news for Obama's re-election prospects. A solid majority is now on the take from the government.
The only questions now are how long the top two quintiles will keep carrying the 60% slackers, and how quickly the truly rich will flee the country like Denise Rich.
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A swing of merely 19 basis points over 33 years (from +14% in 1979 to -5% today) doesn't really seem that large.
It's only notable because it goes from positive to negative.
That's not 19 basis points; it's 19% (1900 basis points).
And that's a lot of money. The median household income is around $50,000.
So that's a swing from paying $7000 a year to receiving $2500 a year for the median household. That's a big deal.
Holy mackerel that first comment is terrifying, even leaving aside the usage of terms s/he doesn't understand.
sigh............when 50% of Americans pay no federal taxes it's over
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