The Wall Street Journal reports good news as personal income rises .5% in August, the best improvement of the year. Well, not so fast… The Capital Hill blog is reporting that the reason is not private sector growth, but in fact 60% of the increase was due to government transfer programs. Yes, that’s just another term for wealth transfer.
It’s frightening that nearly one-third of personal income comes from the Government. Even worse is that more than half of that is through wealth transfer programs. The number has risen around 5% since Obama has taken office. He really does believe in “spreading the wealth around“!
Posted under Economy
Written by admin on October 4, 2010