http://www.zerohedge.com/news/2012-11-27/when-work-punished-...Exactly two years ago, some of the more politically biased progressive media outlets (who are quite adept at creating and taking down their own strawmen arguments, if not quite as adept at using an abacus, let alone a calculator) took offense at our article "In Entitlement America, The Head Of A Household Of Four Making Minimum Wage Has More Disposable Income Than A Family Making $60,000 A Year." In it we merely explained what has become 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). As quantitied, and explained by Alexander, "the single mom is better off earnings 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."unsustainablethat'swhatyouareBut perhaps the scariest chart in the entire presentation 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 thing about unsustainability is it's not sustainable.
Best Of |
Favorites & Replies |
Start a New Board |
My Fool |
BATS data provided in real-time. NYSE, NASDAQ and NYSEMKT data delayed 15 minutes.
Real-Time prices provided by BATS. Market data provided by Interactive Data.
Company fundamental data provided by Morningstar<