I think it's time for a photo op... picture Obama in a brown jump suit with a red bandana, in the midst of a throng of enthusiastic supporters dressed similarly, under a banner stating in bold letters, wealth redistributed:
Paychecks from private business shrank to their smallest share of personal income in U.S. history during the first quarter of this year, a USA TODAY analysis of government data finds.
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.
Those records reflect a long-term trend accelerated by the recession and the federal stimulus program to counteract the downturn. The result is a major shift in the source of personal income from private wages to government programs.
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.
It's important only to those who are seeing their hard-earned wages being confiscated by a burgeoning government and redistributed to a growing crowd of non-productive people who for one reason or another choose not to work for a living.
It's change some continue to believe in.
Count me not amongst the blooming idiots who do.