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.
HT: T-Dub
-
UPDATE: Edited to remove the guy's name. I hope nobody harasses him or his employer. He was good-natured and his sign was innocuous a... -
Only the police should have guns, you know. The shocking double murder of a young couple in Irvine turns out to have been suspectedly com...
QE has permanently ruined bonds for investors
You used to earn an interest rate roughly inline with nominal GDP growth, even slightly better. Since the Fed started manipulating interest...
4 comments:
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
5
Post a Comment