Of the latest headlines from FOXBusiness, one worrisome one says it all: Government Cash Handouts Now Top Tax Revenues
U.S. households are now getting more in cash handouts from the government than they are paying in taxes for the first time since the Great Depression.
The reactionary, or liberal, might say, “Great! We’re getting back more of our money.” Not exactly. Couple this with the news received last week that the level of working Americans has shrunk to early ‘80’s levels, and the picture begins to reveal the ugly truth: the level of government-dependent Americans has soared under this welfare president. The imbalance of ‘givers’ and ‘takers’ skews ever more. And just for clarification, we’re talking about those who work, the productive, and those who do not, the deadbeats. We’re NOT talking about children who haven’t entered the workforce, the elderly who have ‘given’ plenty and now deserve what’s ‘received’, or even those who are honestly seeking employment in these tough times.
Government cash handouts account for a whopping 79% of household growth since 2007, even as household tax payments--for things like the income and payroll tax, among other taxes--have fallen by $312 billion.
FOX Director of Business News, Ray Hennessey states, “In a free market, profit is generated by hard work and enterprise…Because of the labor of the worker, companies generally have the ability to prosper and make more money, both for their employees and their owners," which in turn creates tax revenues…But not in our country today…Wealth creation is coming from DC, not from America’s entrepreneurs.
This is European-style socialism, folks. The government picks the winners and the losers; it takes from the givers and gives to the takers at will. This piece ends with a couple of questions:
What government policies will bring the U.S. labor market back to robust health, enough to drive economic growth, consumer spending -- and higher tax revenues?
When will the U.S. government pull back from its intervention into the U.S. economy, so the economy can try to stand on its own?
Let’s take a stab at answering these...for the first, how about when we return to supply side economics, actually ‘reform’ entitlement handouts, incentivizing the workforce, and produce a real budget that caps federal spending! For the second, that one’s simpler: when, and if, the American People decide to install a REAL Leader in 2012.
As Frank Gutting wrote about Obama’s Misery Index:
With 10% inflation and 17% real unemployment, Barack Obama’s misery index is 27. This is the change Obama promised in 2008. This is the change he intends to bring. Don’t like it? Vote for a new President in 2012!
