Study: By 2050, 60% of American Production Will Go to Government

Discussion in 'Politics' started by Stephanie, Nov 22, 2012.

  1. Stephanie
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    Stephanie Diamond Member Supporting Member

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    by Ben Shapiro21 Nov 2012158post a comment

    According to Michael D. Tanner of the CATO Institute, America isn’t just headed for a fiscal cliff – we flew off it long ago like Thelma and Louise thanks to our out-of-control spending habit. Tanner writes: “federal spending is set to rise to 46 percent of GDP by 2050. When you add in state and local spending, government at all levels will be consuming more than 60 percent of everything produced in this country. We cannot long remain economically productive or personally free with a government of that size.”

    That vast spending increase makes every “fiscally responsible” suggestion by President Obama into a laugh line. Obama’s $1.6 trillion tax hikes wouldn’t cover even one fifth of the projected deficit; it won’t even cover his proposed spending increases. And as for Social Security and Medicare, which are massive unfunded liabilities, that cost clocks in at a hefty $78.5 trillion to $128.2 trillion. “You could confiscate – not tax but confiscate – every penny belonging to every millionaire and billionaire in America,” says Tanner, “and still not have anywhere near enough money to pay for all that we owe.”

    all of it here with comments
    Study: By 2050, 60% of American Production Will Go to Government
     
  2. Rozman
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    Rozman Gold Member Supporting Member

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    All going according to plan.Right on schedule...
     
  3. Euroconservativ
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    Euroconservativ Member

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    Welcome to the Old World: class hatred, bourgeois guilt and paternalist government

    State tax hikes, Federal Govenment tax hikes...

    There will always be a reason to make the "rich" pay their "fair share"

    Even if they already do:

    RealClearMarkets - Progressive Taxation: Europe Vs. U.S.
    http://www.thegatewaypundit.com/201...n-taxes-than-any-other-industrialized-nation/

    Difference? The so-called "progressive" nations of Europe make poor people pay a national sales tax of 20-25% and takes 50% of payroll
     
    Last edited: Nov 22, 2012
  4. Old Rocks
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    Old Rocks Diamond Member

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    Cato Institute. And they have been so correct in their statements to this point?

    But keep up with the insane nonsense. See you in 2014.
     
  5. Stephanie
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    Stephanie Diamond Member Supporting Member

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    that's all you life consists of
     

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