30% of Personal Income Comes from Government

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.

Govt Share of Personal Income

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“!

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Posted under Economy

Written by admin on October 4, 2010

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10:10 Pulls Global Warming Assassination Ad

Observe the latest in the scare tactics of the Global Warming followers. The 10:10 Global Organization was forced to pull this ad a mere hours after it first appeared:

A shame to hear that Gillian Anderson (of X-Files fame) provided the voiceover for this. Also participating in this display of hate speech was Richard Curtis (of Black Adder, Mr. Bean, Four Weddings and a Funeral, Bridget Jones’s Diary, and Notting Hill). Just remember, no pressure… we’ll just assassinate you if you don’t comply.  James Lee would have been proud!

Thankfully, 10:10 has realized the ad missed the mark and put up an apology on their site.

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Posted under Economy

Written by admin on October 2, 2010

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The “Rich” are So Undertaxed

Great commentary over at the Washington Times by Michael Whalen.  He owns properties under Subchapter S, and thus falls into the “rich” category.  Using 2008 numbers, he lists out a handful of the taxes he pays on a 100-room (limited service) hotel in Iowa. It is amazing how fast it adds up. Hard data makes it clear how ignorant a lot of the public is when it comes to taxation.

I’m still finding it amazing how many people don’t even realize how much they are taxed on a normal basis. Most people think of taxes and they think of the ones that are out in the open (income tax and sales tax). A lot of people I talk to in daily life don’t remember that they pay property taxes (it is hidden in escrow on their mortgage or imbedded in their rent payments). Many don’t even take the time to look at their paycheck and see the obscene amount of money put into Social Security and Medicare (let alone the fact most don’t realize that their employer matches). It is nearly impossible to explain to people how taxes “trickle down” from the top (through raised product and service prices).

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Posted under Economy

Written by admin on March 19, 2010

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National Debt Road Trip

Hat tip to PoliticalMath.wordpress.com

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Posted under Economy

Written by admin on September 18, 2009

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The Government Can

Another thing that speaks for itself. Enjoy!

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Posted under Economy

Written by admin on September 3, 2009

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