I know, I know. We’re not supposed to talk about the “47%.” But how can this be anything but an alarming statistic indicative of a nation that is, increasingly, placing far too little value on individualism and self-reliance?
Eleven states, including California, have more residents who draw money from the government—as employees, pensioners, or welfare recipients—than people employed in the private sector. This means that roughly one-third of Americans live in states where more people receive tax dollars than pay taxes on non-government income.
“Most of these states’ preferred solution to fiscal woes has been to raise taxes on the dwindling number of rich residents,” writes Walter Russell Mead at the link. “Attempting to raise more and more money from a shrinking subset of the population is setting these states up for serious trouble in the near future.”
That seems to be exactly what’s happening in California, where tax hikes on the rich have resulted in dropping revenues (via the headlines).
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