PDA

View Full Version : Gov’t Handouts Now Exceed Tax Income



Apocalypse
04-21-2011, 12:40 PM
http://fitsnews.com/wp-content/uploads/2011/03/government-welfare-state.jpg




Budget Deficit: Government Handouts Top Tax Income

By JAMES C. COOPER, The Fiscal Times April 19, 2011


* Households received $2.3 trillion in government income support in 2010.


* Government cash accounts for 79 percent of household income growth since 2007.


* Since 2007, household tax payments have fallen by $312 billion.

… For the first time since the Great Depression, households are receiving more income from the government than they are paying the government in taxes… The only other time government income support exceeded taxes paid was from 1931 to 1936. That trend reversed in 1936, after a recovery was underway, and the economy fell back into a second leg of recession during 1937 and 1938…


Government transfers of income to households started to overtake personal taxes at the start of 2008, and the gap has been widening. In 2010, households received $2.3 trillion in income support from unemployment benefits, Social Security, disability insurance, Medicare, Medicaid, veterans’ benefits, education assistance and other cash transfers of government funds to individuals. Also last year, households paid $2.2 trillion in income, payroll, and other taxes. The difference was $125 billion, equivalent to 1 percentage point of overall personal income…


Since the onset of the recession, government direct payments have increased by $579 billion, accounting for 79 percent of the growth in overall personal income. As job growth has picked up, that contribution has diminished, but during 2010, government cash still accounted for 28 percent of the increase in income…



Typically, the gap between transfers and taxes runs the other way – and by a wide margin. “In normal times the household sector gives about 8 percentage points more of its income in taxes than it receives in direct transfers,” says J.P. Morgan economist Michael Feroli…


http://www.thefiscaltimes.com/Columns/2011/04/18/Budget-Deficit-Government-Handouts-Top-Tax-Income.aspx


So we are now giving more in handouts then the Gov. takes in now. The Obama admin must be proud their redistribution of wealth is going well.


On top of this, Fox Business News (http://tinyurl.com/43oqv9h) is also reporting that:

[A]n estimated 59% of the 308.7 million Americans in this country get at least one federal benefit, according to the Census Bureau, based on 2009 data. An estimated 46.5 million get Social Security; 42.6 million get Medicare; 42.4 million get Medicaid; 36.1 million get food stamps; 12.4 million get housing subsidies; and 3.2 million get Veterans’ benefits.

And the handouts from the government have been growing. 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…

txradioguy
04-21-2011, 02:53 PM
You know...after awhile you get the impression this is exactly what the Democrat Party wants.

Madisonian
04-21-2011, 05:52 PM
You know...after awhile you get the impression this is exactly what the Democrat Party wants.

Correction... Politicians of BOTH parties.

txradioguy
04-21-2011, 05:54 PM
Correction... Politicians of BOTH parties.

:rolleyes:

Sorry I don't play your 100%'er one party is no different than the other bullshit game.

Madisonian
04-21-2011, 06:33 PM
:rolleyes:

Sorry I don't play your 100%'er one party is no different than the other bullshit game.

So show me those massive reductions when Bush was in office and had either the House, Senate or both.
They may be different in many areas, but when it comes to spending OPM, there isn't a lot of difference.

Gingersnap
04-21-2011, 07:29 PM
So show me those massive reductions when Bush was in office and had either the House, Senate or both.
They may be different in many areas, but when it comes to spending OPM, there isn't a lot of difference.

Too true. The Republicans at one point had the whole thing by the tail and they did nothing to curb this kind of thing. At best, they just shifted the labels.

KhrushchevsShoe
04-22-2011, 12:35 AM
:rolleyes:

Sorry I don't play your 100%'er one party is no different than the other bullshit game.

Aww, hes a good partisan slave. Looks like hes proud of it too!

Rockntractor
04-22-2011, 12:48 AM
Too true. The Republicans at one point had the whole thing by the tail and they did nothing to curb this kind of thing. At best, they just shifted the labels.

I think the big difference between parties is social, and not enough fiscal.

txradioguy
04-22-2011, 12:59 AM
Aww, hes a good partisan slave. Looks like hes proud of it too!

First off Fuck you...you Libtard Troll.

What I am is consistent.

I have no more tolerance for people on the right who have the childish attitude that..."you do it my way or I'm taking my football and going home" than I do for you idiots on the let that say the same things and behave the same way.

txradioguy
04-22-2011, 01:01 AM
So show me those massive reductions when Bush was in office and had either the House, Senate or both.
They may be different in many areas, but when it comes to spending OPM, there isn't a lot of difference.

I'm sorry perhaps you have me mistaken for someone who never criticized President Bush or never said he did anything wrong.

You're sadly mistaken.

Try again.

Odysseus
04-22-2011, 11:29 AM
Aww, hes a good partisan slave. Looks like hes proud of it too!

The hypocrisy of you calling someone else a partisan slave is beyond description.

ironhorsedriver
04-22-2011, 12:16 PM
More importantly, when will our wonderful politicians realize that you can't spend more than you make. I guess most of us are smart enough not to try it with our own finances, shouldn't they? I hope that we one day get a Government that will be willing to prosecute the scum that did this to our Country.

Lanie
04-23-2011, 11:49 AM
Republicans are big spenders, but they're usually not as big of spenders so there is a difference.