Government Programs Getting Bigger.
Here’s some interesting info.
Gary Shilling, an economist in Springfield, N.J., figures that 52.6% of Americans, including dependents of direct recipients, “now receive significant income from government programs,” the Christian Science Monitor reported.Seven years ago, that number was 49.4%. And back in 1950, only a mere 28.3% of Americans relied on Washington. That really shows how government welfare has expanded over the last half century.
Investor’s Business Daily puts all this in perspective: “The left delights in shrieking about how the rich beat down the poor, about how the wealthy benefit from the tax cuts at the expense of those at the bottom. But the top 5% of income earners pay 57.1% of all federal income taxes. At the same time, 45 million Americans, many of them in the lower income grouping, pay no taxes at all. Instead of the rich getting richer while the poor get poorer, the rich are paying a growing share of the tax burden while the poor’s share shrinks.”
I hate paying taxes. Here’s another humorous look at our current tax system really works.
If you found this post helpful, consider donating to my coffee fund!- Carnival of Dividends & Passive Income #3 Welcome to the June 18, 2008 edition of Carnival of Dividends and Passive Income. Given the large number of submissions but lack of quality or relevance to the carnival topic, the theme for this week is "Many came, but few chosen"! Income Living Off Dividends & Passive Income presents......
- How To Reduce A Trillion Dollar Deficit Stanford professor John Taylor had an alarming op-ed piece in the Financial Times on the Trillion Dollar deficits "I believe the risk posed by this debt is systemic and could do more damage to the economy than the recent financial crisis. To understand the size of the risk, take a......
- You Can't Spend Your Way Out of the Crisis WSJ had an interesting article on New Zealand Prime Minister, John Key. A former foreign-exchange trader, he takes supply-side approach to the global recession. "We don't tell New Zealanders we can stop the global recession, because we can't," says Prime Minister John Key, leaning forward in his armchair at his......
Related Websites
- Customizing a Budget It is a good idea for you to put together your own unique budget work sheet when it comes to getting started in setting up a budget for your household. Make sure that the categories and the information that you use to plug in your budget information pertains to your......
- Consumers, Lenders, and New Year's Resolutions I don't plan on writing much today as I suspect that most computer users are either hung over, watching football, trying to lose weight, or cleaning up all of the holiday mess. Mr. ToughMoneyLove has been informally surveying New Year's Resolutions posted by various internet users, particularly in the personal finance......
- Ex-Tax Collectors Turned Corporate Tax Dodging Heroes Many years ago, John Madden once gave a memorable quote about the necessity for speed at the skill positions in the NFL: Speed: can't teach it, can't coach it, better draft it! It would appear that General Electric, a "too big to fail" corporation, has a similar philosophy in paying......
[All content is copyright of Living Off Dividends & Passive Income]








May 18th, 2007 at 9:25 pm
The rich are getting richer which is why they are paying a greater percentage of the taxes. The poorer are getter poorer and thus are paying less taxes. I think it’s pretty simple math.
May 18th, 2007 at 9:28 pm
the point is that the government is getting bigger.
i’m against government interference. big governments go against that policy.
and i agree that the poor are getting poorer. but why? I know a lot of people who came to this country with very little and through sheer hard work are now very successful.