Today in America, a single mom is better off earning gross income of $29,000 than to earn gross income of $69,000
11:49AM EST 12.2.2012 - Moriches, NY — SHOCKING: Forget the fiscal cliff because today in America, a single mom is better off earning gross income of $29,000 with $57,327 in net income & benefits than to earn gross income of $69,000 with net income and benefits of $57,045.
The chart says it all and no you didn’t read that wrong. Washington has finally reached beyond parity in wealth redistribution and in destroying the Middle Class.
But perhaps the scariest reality in our America is the following summarizing the unsustainable welfare burden on current taxpayers:
- For every 1.65 employed persons in the private sector, 1 person receives welfare assistance
- For every 1.25 employed persons in the private sector, 1 person receives welfare assistance or works for the government.
The punchline: 110 million privately employed workers; 88 million welfare recipients and government workers and rising rapidly.
The painful reality in America: for increasingly more it is now more lucrative – in the form of actual disposable income – to sit, do nothing, and collect various welfare entitlements, than to work. This is graphically, and very painfully confirmed, in the below chart from Gary Alexander, Secretary of Public Welfare, Commonwealth of Pennsylvania (a state best known for its broke capital Harrisburg).
Welcome to the entitlement, welfare state America created by Obama’s policies. In what is sure to inspire some serious ire among all those who once believed Ronald Reagan that it was the USSR that was the “Evil Empire” we come to the verifiable conclusion that “a one-parent family of three making $14,500 a year (minimum wage) has more disposable income than a family making $60,000 a year.”
In a sobering article 2-years ago by Tyler Durden of Zerohedge, and a chart created by Wyatt Emerich of The Cleveland Current, a breakdown of earnings for four income brackets show the truth behind our tax.
“America is now a country which punishes those middle-class people who not only try to work hard, but avoid scamming the system. Not surprisingly, it is not only the richest and most audacious thieves that prosper – it is also the penny scammers at the very bottom of the economic ladder that rip off the middle class each and every day, courtesy of the world’s most generous entitlement system. Perhaps if Reagan were alive today, he would wish to modify the object of his once legendary remark.”
In the chart by Emerich, a person who earns just $3,625 in a year will receive through benefits, more disposable income ($31,630) than someone earning $30,000 a year ($27,379). A person earning $14,500 per year will receive through benefits, more disposable income ($37,777) than someone earning $60,000 a year ($34,366).
Ever wonder why Obama was so focused on health reform? It is so those who have no interest or ability in working, make as much as representatives of America’s once exalted, and now merely endangered, middle class. It is not worth working hard and climbing the ladder anymore is it in America?
“Socialism only works until you run out of other people’s money.” – PM Margaret Thatcher
So, we finally know that the very bottom of the entitlement food chain also makes out like a bandit over the next 4-years. This compared to that American idiot who actually works and pays their taxes.
One can only also hope that in addition to seeing their disposable income eaten away by the new mega entitlement state, the disappearing middle class is also selling off its weaponry. Because if it isn’t, and if it finally decides it has had enough, the outcome will not be surprising at all: it will be the same old that has occurred in virtually every revolution in the history of the world to date.