Neato Torpedo wrote:.
we are one third of the way to your utopia.
Even as the economy has recovered, social welfare benefits make up 35 percent of wages and salaries this year, up from 21 percent in 2000 and 10 percent in 1960, according to TrimTabs Investment Research using Bureau of Economic Analysis data. “The U.S. economy has become alarmingly dependent on government stimulus,” said Madeline Schnapp, director of Macroeconomic Research at TrimTabs, in a note to clients. “Consumption supported by wages and salaries is a much stronger foundation for economic growth than consumption based on social welfare benefits.” link
What are you guys going to do when the money runs out? you ever thought of that?
Yeah, well, we're 47% of the way to your utopia.
This means 36 percent of all so-called taxpayers actually pay zero in income taxes after taking their credits and deductions. But these figures don't include some 15 million people who work but don't earn enough to file a tax return. When these people are added to the non-payers, estimates the Tax Policy Center, the percentage of households who don't pay income taxes rises to 47 percent.http://articles.cnn.com/2010-04-15/opin ... PM:OPINION
And the money doesn't "run out", stupid. It gets put back into the economy through spending on goods and services. The wealthy save a high percentage of their income, while the lower and middle classes generally spend a lot of what they earn. If anything, providing financial aid to the working and lower middle classes would boost the economy and safeguard it from overdependence on the banking industry.