If employment was indeed as strong as reported by government agencies, then social benefits would not be comprising a record high of 22% of real disposable incomes.
With 1/5 of incomes dependent on government transfers, it is not surprising that the economy continues to struggle as recycled tax dollars used for consumption purposes have virtually no impact on the overall economy.
In the ongoing saga of the demise of the American economy U.S. households are now getting more in cash handouts from the government than they are paying in taxes for the first time since the Great Depression.
In 2018, households received $2.2 trillion in some form of government transfer payments, which was more than the $1.7 trillion paid in personal income taxes.
In the "Strongest economy in history," American's should be earning a bulk of the income from their labor, rather than from Government handouts.
In short, Americans have the government, not private enterprise, to thank for their wealth growth - but, of course, there are massive implications to this.
If more households have the government to thank for their wealth, does that mean those households are more inclined to re-elect politicians who are pushing for more government handouts?
https://realinvestmentadvice.com/strongest-economy-ever-americans-receive-more-in-benefits-than-pay-in-taxes/
With 1/5 of incomes dependent on government transfers, it is not surprising that the economy continues to struggle as recycled tax dollars used for consumption purposes have virtually no impact on the overall economy.
In the ongoing saga of the demise of the American economy U.S. households are now getting more in cash handouts from the government than they are paying in taxes for the first time since the Great Depression.
In 2018, households received $2.2 trillion in some form of government transfer payments, which was more than the $1.7 trillion paid in personal income taxes.
In the "Strongest economy in history," American's should be earning a bulk of the income from their labor, rather than from Government handouts.
In short, Americans have the government, not private enterprise, to thank for their wealth growth - but, of course, there are massive implications to this.
If more households have the government to thank for their wealth, does that mean those households are more inclined to re-elect politicians who are pushing for more government handouts?
https://realinvestmentadvice.com/strongest-economy-ever-americans-receive-more-in-benefits-than-pay-in-taxes/
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