1/3 of U.S. wages are Social Security, Medicare, and Unemployement Insurance

#1
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WA_Vol

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Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.

Even as the economy has recovered, social welfare benefits make up 35 percent of wages and salaries this year, up from 21 percent in 2000 and 10 percent in 1960, according to TrimTabs Investment Research using Bureau of Economic Analysis data.

“The U.S. economy has become alarmingly dependent on government stimulus,” said Madeline Schnapp, director of Macroeconomic Research at TrimTabs, in a note to clients. “Consumption supported by wages and salaries is a much stronger foundation for economic growth than consumption based on social welfare benefits.”

The economist gives the country two stark choices. In order to get welfare back to its pre-recession ratio of 26 percent of pay, “either wages and salaries would have to increase $2.3 trillion, or 35 percent, to $8.8 trillion, or social welfare benefits would have to decline $500 billion, or 23 percent, to $1.7 trillion,” she said.
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#3
#3
People wonder why they are broke. The government lets everyone know it's OK to create dumb debt, then they tax your wages on top of it all. It's a vicious cycle really.
 
#6
#6
volinbham said:
staggering
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that was my first response when I saw the numbers

“either wages and salaries would have to increase $2.3 trillion, or 35 percent, to $8.8 trillion, or social welfare benefits would have to decline $500 billion, or 23 percent, to $1.7 trillion,” she said.
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#7
#7
How do we fix it though? I know people right now that have never worked a day in their life and are on disability.

We all keep paying it in and they keep talking about taking it away. All this stuff is self inflicted and government failure, it's a mess. Should you still have to pay if they're going to take it anyway?

Dumbazzes keep overtaxing and punishing people who create jobs and work here, no wonder they outsource it all to other countries. It's going to crumble in on itself eventually, it's just a matter of time.
 
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#8
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BigPapaVol said:
Isn't it odd that we hear about no one being serious about budget cuts until we address defense and prisons. Don't let these pesky entitlements bother you.
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I say we cut entitlements AND defense, eliminate the Bush tax cuts, and the payroll tax cut this year.
 
#10
#10
Cartervol said:
How do we fix it though? I know people right now that have never worked a day in their life and are on disability.

We all keep paying it in and they keep talking about taking it away. All this stuff is self inflicted and government failure, it's a mess. Should you still have to pay if they're going to take it anyway?

Dumbazzes keep overtaxing and punishing people who create jobs and work here, no wonder they outsource it all to other countries. It's going to crumble in on itself eventually, it's just a matter of time.
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I agree with a good majority of this. I am all for helping someone out when down on their luck through no fault of their own. BUT, it can't be perpetual. I come into contact with 3rd generation welfare families daily. What gripes me is that they are content to be this way. It's nauseating. Until, at the least, welfare is changed to a workfare program, it will continue. We all work for a living. What is wrong with a 30-40 hr community service requirement for the assistance? AND make it temporary. Bring some pride and incentive for people to support themselves. I am not a Social Darwinist by definition, but enough is enough. The current system is unsustainable. And yes, as most know, I DO live with a serious health issue and STILL strive to work. Plus, I had the foresight to deal with such an issue by purchasing a PERSONAL disability policy that I get ZERO help in paying the premiums from my employer. I won't get rich off of it, but I will be able to provide for me and my family without relying on others. End rant.
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#12
#12
But the Republicans are yet again pussy footing around and are going to get their assets handed to them in the coming cycles.. their aggressive cutting is an absolute joke.
 
#14
#14
I think we can cut in direct proportion from defense translated to the same percentage in entitlements. That way, everyone's ox gets gored an equal amount.
 
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lawgator1 said:
I think we can cut in direct proportion from defense translated to the same percentage in entitlements. That way, everyone's ox gets gored an equal amount.
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I'm all for a fixed % cut of everything. 30% suits me for starters. Tough decisions would happen, but the enormous amount of fluff ad worthlessness that we all know to be there would take the biggest beating.
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#16
#16
BigPapaVol said:
I'm all for a fixed % cut of everything. 30% suits me for starters. Tough decisions would happen, but the enormous amount of fluff ad worthlessness that we all know to be there would take the biggest beating.
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my concern with cutting defense is that govt agencies seem to not cut the fat when they get less funding they cut services. i guess cutting waste is counterproductive when you ask for more money in the futrure.
 
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droski said:
my concern with cutting defense is that govt agencies seem to not cut the fat when they get less funding they cut services. i guess cutting waste is counterproductive when you ask for more money in the futrure.
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I understand and don't care. They can only keep that up for so long. The Pentagon / General Staffs need to halved immediately and pared down from there over time.
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#18
#18
BigPapaVol said:
I understand and don't care. They can only keep that up for so long. The Pentagon / General Staffs need to halved immediately and pared down from there over time.
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noncombat pay freeze would be a nice start.
 
#20
#20
how much of this is an attempt to jack up final years wages for purposes of screwing the pension funds?
 
#21
#21
droski said:
how much of this is an attempt to jack up final years wages for purposes of screwing the pension funds?
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No idea. Perpetual fiefdom expansion brought on by seemingly endless pot of gold is the main culprit.
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#22
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lawgator1 said:
I say we cut entitlements AND defense, eliminate the Bush tax cuts, and the payroll tax cut this year.
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Libs just can't bring themselves to the reality that the problem is NOT under taxation but overspending.

We can't just cut entitlements based on these numbers. We have to move people from the dole to productive jobs. That means the people Progressives of both parties have been buying off with tax $ for about 70 years now will have to get some tough love... meaning Progressives can't count on votes.... meaning this more than likely ain't happening. I am not personally optimistic that this gets fixed any time before we have a major economic collapse.
 
#23
#23
Interesting, true, and pertinent story.

A guy I work with had lunch with a friend of his a couple of weeks ago. She works for an auditing firm that evaluates gov't programs and agencies for waste. Guess where the feds made the first cut? Her salary went from $75k to $35k.
 
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lawgator1 said:
I think we can cut in direct proportion from defense translated to the same percentage in entitlements. That way, everyone's ox gets gored an equal amount.
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Yep... makes sense. Tie an absolute necessity for the survival of the nation AND a constitutionally mandated gov't function in the same proportions as an endeavor with no clear Constitutional grounding and that contributes nothing to the health or security of our national economy.
 
#25
#25
How about we enact an anti-parasite law like the USSR had. If you won't work and your able to you get locked up and forced to work or killed. That would be a lot of lazy azz people to work I think.
 
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