Monday, March 26, 2007

821% return of investment

Story: "Overall, we find that America's lowest-earning one-fifth of households received roughly $8.21 in government spending for each dollar of taxes paid in 2004. Households with middle-incomes received $1.30 per tax dollar, and America's highest-earning households received $0.41. Government spending targeted at the lowest-earning 60 percent of U.S. households is larger than what they paid in federal, state and local taxes. In 2004, between $1.03 trillion and $1.53 trillion was redistributed downward from the two highest income quintiles to the three lowest income quintiles through government taxes and spending policy."

There is definatly a major problem with our fiscal policy, and the blame lies squarely with both parties, as the Republicans and the Democrats are in a race to spend the most.

Look at this in another way: The poor put $1 in the system, and get an 821% return on the dollar. And we're not doing enough?

Likewise, why are we even supporting middle-income? They don't need the welfare money.
And why is it the rich are being squeezed here? Just because they're rich, and its not fair that they have more money?

The government is far, far to large. The Department of Education needs to go, as does Medicare, along with Social Security. And then a flat tax.

2 comments:

Gino said...

not sure what middle income means, but if you make 50k in southern california, you are low income due to the high cost of housing, and higher cost of fed taxation on the 50k level.

under_the_mercy said...

Sounds rather like communism.