Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year.It started almost 100 years ago, was hurried along by the New Deal and Great Society. It did not falter during subsequent Democrat and Republican administrations. It has ramped back up to a level unforeseen with Hope and Change.
At the same time, government-provided benefits — from Social Security, unemployment insurance, food stamps and other programs — rose to a record high during the first three months of 2010.
Greece is the bright yellow canary; Europe a dull yellow; America under the guise of progressivism, is beginning to show her color.
Robinhoodism only works for the poor, because they have nothing, but once they have something, stifles. It does not motivate a society to greater achievements.
The more people on the "government payrolls," however you want to define that, means more votes for those that keep the crumbs coming. And that's all that is being doled out.
Wealth redistribution on the scale we have witnessed in Europe and what we are beginning to see in America, is a sad day for all. The poor are happy to stay poor so long as they have the minimum. Those trying to achieve have an uphill climb, not by competitive forces (which are ominous enough) but by stifling laws, processes and taxes.
How does the White House and congress respond? By more Keynesian "stimulus" with money that does not exist. Tell me, how will we ever pull ourselves out of this hole that continues to be deepened by the one who offers no hope and no prospect for meaningful change?