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Old 11-22-2010, 06:54 AM   #1
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Who's got the most disposable income?

http://www.zerohedge.com/article/entitlement-america-head-household-making-minimum-wage-has-more-disposable-income-family-mak

Somehow I wonder about this guy's math and if it's really correct. What are your thoughts, setting aside your anti or pro-Obama stance?

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Old 11-22-2010, 09:51 AM   #2
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"most private workplaces require drug testing"

well that quote makes me wonder about Tyler Durden's facts. If the quote above were in indeed correct we wouldn't be planet Earth's #1 consumer of marijuana, heroin, cocaine, meth and other synthetics, etc. Even at 90% employment this would mean a truck load of people getting fired on daily basis.

At any rate...if this is a question of fairness then it's pretty outrageous. But state budget cuts are sure to change to that because the Federal govt is no longer going to be giving out interest free loans for 'fiscally conservative" governors to balance their budgets instead of slashing this sort of spending. It was fun while it lasted for the deadbeats.

Now if the author writes this blog in response to calls to cut the debt, this sort of spending is not even end of a whisker in the beard of $14 trillion debts or $1.5+ annual deficits. Too few people are affected and the money the middle class is subsidizing for the lower class (if that's a pc term) is peanuts. Now if you want to start talking some real hard numbers look at the pork barrell spending that the top 400 tax filers get for their own enrichment from you and me and all the other tax payers by sending lobbyists to D.C. to stick one tax break into the budget after another. The bi-partisan debt commission calcuates that these top 400 tax filers account for nearly 98% of the $18 billion in pork spending. That's U.S. auto bail out level money. Which is to say nothing of the effective tax rates (once all those deductions have been accounted for) of the very wealthy, $800K and higer, being 30% lower than that of the average Joe. Warrant Buffet famously bet any one of his Fortune 500 executive friends a million dollars if anyone of them could show an effective tax rate HIGHER than of their own assistant or secretary.
I don't know about you but I find sending more of my disposable income to cover the tax breaks of a mulit-millionaire more head-exploding than having it go to food stamps.
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Old 11-22-2010, 05:05 PM   #3
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I wouldn't be surprised if those numbers are correct. Of course its infuriating but then again most social programs are. The American Dream is to be financially sound. If we give people a way to do it easier then can we really be surprised that people do it?
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Old 11-23-2010, 03:18 AM   #4
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Congress will not willingly cut into its ability to dole out the money. Sadly, we will need a crisis (bond vigilantes, etc.) to force a change in behaviour.

Old habits die hard.

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