Amazes me,… sickens me, actually,…. that there’s a fairly large group of people in this country that believe taking a few packages of Ramen and/or peanut butter sandwiches away from low income families every week is the way to fix it. That’ll cure most if not all the problem. Deficit gone.
Make those people put a little skin into the game.
Well, here is where the “redistribution” thing is really ending up. And has been ending UP there for a long, long time.
Some good stuff from Jared Bernstein …. with my favorite graph, showing what the real problem with the way money is redistributed seems to be — (and it isn’t the Ramen noodles).
But what if we look at another type of entitlement in our system: tax expenditures? Those are the credits and deductions you subtract from your tax liability for favored expenditures and income types, like capital gains or the mortgage interest deduction.
Those tax benefits are redistributed upwards. Two-thirds go to the top 20% and 24% of the benefits go to the top 1%.