Tom DiLorenzo writes:
-RW. . . is $13,793. That’s the average cost per taxpayer of the new $1,400 checks that some of them are being promised. (145 million is the approximate number of federal taxpayers according to the IRS).
If every single American citizen were give $1,400 it would cost about $435 billion. Not that everyone will get a check — those earning above $80,000/year are “phased out.” I wonder what all the rest of the “COVID relief” money is for.
The people will be happy with their $1,400. They don't know any better.
ReplyDeleteearlobes attached
ReplyDeleteBetter $ 1,400 than nothing ...
ReplyDeleteThe most maddening part of this is that the poorly managed municipal pension funds of San Francisco, Chicago, et al, are now being propped up not by the workers in the system, and not even by the taxpayers of the respective states, but by taxpayers across the country that have no connection whatsoever with the government workers now being bailed out.
ReplyDeleteIt would be interesting to find some analysis on how public spending is allocated, and how it has been allocated since the crisis of the 1970s.
ReplyDeleteMy research shows that only a small part of the public deficits have been allocated to investments: at least half of the current public debt is made up of interest on the debt (public debt is not paid with taxpayers' taxes, but by issuing new debt), and the other half is made up of expenses for welfare support.
I have collected my searches in Italian, but you can easily translate them into English with Google Chrome.
https://polarizzazione-globalizzazione.blogspot.com/2021/03/debito-buono-ma-poco-efficace.html