The Beginning of the End

"The trend is not sustainable, says University of Michigan economist Donald Grimes. Reason: The federal government depends on private wages to generate income taxes to pay for its ever-more-expensive programs. Government-generated income is taxed at lower rates or not at all, he says. 'This is really important,' Grimes says."

This quote is from a USAToday article about how private income has shrunk to all-time lows and government handouts have reached record levels. As I pointed out in my last post, our way of life is being destroyed.

What the people who argue for these government programs don't realize is that the wealthy give money to the poor. They do it through creating jobs, either directly, or by creating demand for the work that the rest of us do. When you demonize wealth and demand that the government redistribute it, you destroy the expansion of the economy.

As Margaret Thatcher pointed out, "The trouble with socialism is that eventually you run out of other people's money."

Read the article here.