Go to PDF Version | Go to Recent Issues
To save time in the future, you may select one of the preferences below. You may update your eIBD preferences at any time by going into My IBD and selecting Update Your eIBD Preferences.
Set Web-Based Version as Default Set PDF Version as Default Set Recent Issues as Default
Get QuoteSearch Site
Daily Graphs Online
View Enlarged Image
The news that the U.S. has become a two-class society — i.e., half of Americans pay federal income taxes and half don't — has bounced around the media and shocked Americans. Most people had no knowledge of this appalling economic fact.
Even worse is the reality that 40% of Americans receive federal government handouts of cash and valuable benefits. Those handouts are financed by the people who do pay federal income taxes.
Those handouts create a big bloc of people who depend on the government for their living expenses. The Tax Foundation reports that 20% of Americans get 75% of their income from the federal government and another 20% get 45% of their income from the government.
Obama's stimulus law will add nearly $800 billion in new means-tested welfare spending over the next decade. That means $22,500 for every poor person in the U.S., which will cost over $10,000 for each family that pays federal income taxes.
According to the Tax Foundation, married taxpayers pay three-fourths of all federal income taxes, whereas two-thirds of single parents who file as head of household pay no income tax at all. According to a Heritage Foundation report, taxpayers (mostly those who are married) will spend more than $300 billion providing welfare aid to single parents (mostly women).
The pundits like to divide Republicans into two classes, the fiscal conservatives and the so-called social conservatives, and pretend their interests are different and mutually exclusive. In fact, the overwhelming reason for big government's extravagant spending, which is properly railed against by limited-government conservatives, is the breakdown in our culture, which social conservatives have been battling for years.
If limited-government conservatives are dreaming of taking back America for fiscal sanity in the November elections, they should study how the unprecedented decline in marriage and the increase in illegitimacy are the major causes of our bloated government and gigantic welfare spending.
In 2008, 40.6% of children born in the U.S. were born outside of marriage; that's 1,720,000 children. This is not, as the media try to tell us, a teenage problem. Only 7% of those illegitimate babies were born to girls under age 18, and over three-fourths were born to women over 20. The problem is the collapse of marriage as the social institution responsible for the costs of child care.
The fiscal conservative faction of the Republican Party should also study why Republicans won their big congressional majority in 1994 and what has happened since. The Democratic Party's welfare boondoggle was a major reason for the GOP victory.
The American people are tired of the borrowing, spending and bailouts that have been advanced by the administrations of both political parties. It's time to end the era of bailouts and reaffirm our belief that the freedom to succeed must include the freedom to fail. Unfortunately, under the guise ...
MORRISVILLE, Pa. — The bridge spanning the Delaware River connects New Jersey's capital with this town where the nation's most interesting governor occasionally eats lunch at Cafe Antonio. It also connects New Jersey's government with reality. The bridge is a tutorial on a subject this ...
So much is being written in the mainstream media about who the Tea Partyers are, but very little is being recorded about what these folks are actually saying. We know that this is a decentralized grass-roots movement, with many different voices hailing from many different towns across the country. ...
'Do you realize," CNN's Susan Roesgen asked a man at the April 15, 2009, Tea Party in Chicago, "that you're eligible for a $400 credit?" When the man refused to drop his "drop socialism" sign, she went on, "Did you know that the state of Lincoln gets 50 billion out of the stimulus?" Roesgen is no ...
When liberals advocate a value-added tax, conservatives should respond: Taxing consumption has merits, so we will consider it — after the 16th Amendment is repealed. A VAT will be rationalized as necessary to restore fiscal equilibrium. But without ending the income tax, a VAT would be just a ...
Posted By: Osamas Pajamas(1965) on 4/24/2010 | 12:04 AM ET
These rotten Democrats. Is it illegal to advocate the violent overthrow of the government? I forget. Someone refresh my memory. Didn't the American colonists stage an illegal and bloody revolution? Were they wrong to do that? And if not, then why not us, too? Speak up, you cowardly buggers!
Posted By: investorLoonie1(325) on 4/24/2010 | 12:01 AM ET
Fiscal Sanity??? There is no sanity. The reb's have been spending like a lotto winning drunkard since Buffoon Bush found his way into the Whitehouse. The reb's have been handing out cash to the rich faster than the printing presses could keep up. Reb's only worry about limited government when they are not in power. When they are in power, they are busy tapping our phones and invading third world countries. Compliments of the taxpayer. Rip off reb's.
Posted By: acierno(1510) on 4/23/2010 | 10:53 PM ET
no other factor effects the reason for a person to be in prison as coming from a single parent family.
Posted By: thebassman(585) on 4/23/2010 | 10:21 PM ET
axo0gyp obvious you are a liberal O mouthpiece. The FACTS speak load & clear - BEFORE LBJ "great society" US did not have this problem - now it does. The roles were reduced when reform passed, O & dems just canned the reform. OK, where I used to live, during that time had program to teach single moms real life job skills so they could get off welfare - it worked. That program was result of 94 bill - now gone. Why don't you try dealing in FACTS, not liberal tripe. WAKE UP AMERICA
Posted By: axo0gyp(285) on 4/23/2010 | 9:28 PM ET
This article is a rambling mess. It blames LBJ and Obama for single family homes?? Its an utterly ludicrous piece of crap opinion journalism
To participate in Community areas, please Sign In or Register
Register
Not only do you want a stock with strong earnings, you want to see earnings consistency.
Get QuoteSearch Site
Read Full Article »
