3 Charts Tell The Story

1. Chart 1: As “payments to individuals” becomes a greater and greater share of the federal budget……

2. Chart 2: The percent of taxpayers with zero or negative tax liability goes up….

3. Chart 3: And the share of taxes paid by the top 1% goes up and the share of taxes paid by the bottom 95% goes down.

As John Merline points out in his excellent editorial:

“When you put these two trends together, what you find is that the federal government has over the years essentially turned into a gigantic wealth-transfer machine — taking money from a shrinking pool of taxpayers and giving it out to a growing list of favored groups.”

About Mark J. Perry 262 Articles

Affiliation: University of Michigan

Dr. Mark J. Perry is a professor of economics and finance in the School of Management at the Flint campus of the University of Michigan.

He holds two graduate degrees in economics (M.A. and Ph.D.) from George Mason University in Washington, D.C. and an MBA degree in finance from the Curtis L. Carlson School of Management at the University of Minnesota.

Since 1997, Professor Perry has been a member of the Board of Scholars for the Mackinac Center for Public Policy, a nonpartisan research and public policy institute in Michigan.

Visit: Carpe Diem

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