Last year, I posted about Arthur Laffer's study of a New Jersey mother of 2 on public assistance.
When applying for and receiving the programs she is eligible for, she would be able to collect about $46,000 per year for herself and her 2 kids.
Laffer's point was that if she went out and started working, on average, each incremental dollar she would make working would cost her, on average, about 80 cents in benefits...
... the point being that she was effectively in an 80% marginal tax bracket, so why on earth would she ever choose to work.
I bring this up today because of the CBO's big revelation about Obamacare's big dis-incentives to work. Now that that New Jersey mom's Obamacare subsidies are ALSO at risk if she goes out and starts working, she has even MORE of a reason to avoid finding a job.
Greece's disincentives not to work have NEVER been this compelling, yet Greece's welfare state was front and center in economic discussions pertaining to the collapse of their country's financial solvency.
We are not Greece, my friends. As it turns out, we're on a much more destructive trajectory than Greece was...
... the sheet just hasn't made it to the blades of the fan here yet.
wait this is not a story about a couple raising a family where one partner is able to work this is about a single mother of two children.
As a society if we fail to look after our children we are very very doomed.
If your going to study single mothers or fathers perhaps you should go find the other partner and get them to pay/work.
Either way failing to care for children that are un witting pawns in the game of life is a act of zero compassion and what is the point of it all if we cannot show compassion to our kids.
why don't you worry about wallstreet fraud and 1 trillion on a new plane ..you are brainwashed by propaganda to be angry at the poor not the real thieves who are depleting your assets and increasing the deficit...they got you where they want you ...diverted from the truth
wallstreet fraud over soon, the markets correction coming will take several trillion dollars back out of wallstreet - the bubble led FED melt up can only last so long so all the margined wallstreet firms will suffer again
Marti, a person living at the poverty line in the U.S. has a higher standard of living than anyone living at the poverty line in any other country on earth.
U.S. top corporate tax rates (the rate Apple pays on U.S. earnings) is the highest tax rate on earth.
The top individual income tax rate in the U.S. is the highest such rate outside of Europe.
When Apple chose to borrow money to pay it's dividend instead of repatriating Hundreds of $Billions of dollars of foreign earnings that it holds overseas, the reason was because of punative, U.S. taxes... and that is money that we need HERE, in the US, to build business and employ AMERICANS, Marti.
The more we raise taxes, the more we see investment capital flee overseas. The more we grow social programs, the more government-dependent the 47% of Americans who pay no federal income taxes becomes.
The WHOLE REASON for the big income disparity in the US is Obama-style socialism... yet the only answer they provide us to solve income disparity is higher taxes and increasingly bloated social welfare programs.
Welcome to the insidious decay of socialism, Marti, just like we've seen in EVERY OTHER society that has gone this path over the past 100 years.
Today, I read 3 articles written by liberal democrats extolling the CBO report about 2.4 million people refusing jobs out of concern for losing their Obamacare Subsidy.
In each case, they praised the "flexability" it would give those people... like mothers choosing to stay home with the kids in lieu of working at a job.
Maybe the answer would be to go even further... give that mother a CAR TOO, so she won't have to take a job in order to make her car payments... then she would have even MORE flexability to do all those things that liberal democrats think she should have the choice to do.
Heck, give her a free HOUSE TOO... then she won't have to make a house payment EITHER.
The logic of socialist decay NEVER ceases to amaze me. We are Greece, people... our #$%$ just hasn't hit the fan yet.
Your points, 25X, are well made and the history/facts are all on your side and against what we are doing in this country in the name of "fairness' and "equality". Marti has only name calling and changing of the subject to defend his socialist position. I will be the next one to receive a name calling from him. Enough said.