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Friday, January 25, 2013

A Nation Of Takers? More Like "Financial Rape" of Future Generations

Free Romanian Poker! - Check the Urban Dictionary Link
Each and every day, each and every person in the United States contributes about $20.27 USD to "social programs" which cost some $2.3 trillion annually (see this).  (Calculated by dividing 2.3 trillion by 310 million and dividing the result by 365 - the number of days in a year.)

However, about 35% of the US population accepts one or more of a variety of government social programs.  So its unlikely you are contributing to or paying for a program if you are using the program because you have no money (most programs are "means tested" meaning you must not make any money to use them).  (Calculated by dividing 2.3 trillion by 210 million and dividing the result by 365.)

So instead of $20.27 a day its more like $30 USD a day.

But consider: only about 45% of people in the US work so that means its costing working adults about $66 a day for the current social welfare model.  (Calculated by dividing 2.3 trillion by 45% of 210 million and dividing the result by 365 - the number of days in a year.)

A minimum wage US job $58 USD a day at $7.25 per hour.

What his means is that if you are just starting out on a job and not taking part in the social programs yourself your portion of paying for the US social programs leaves you in debt about $8 USD each and every day (that is assuming you work 365 days a year).

But what if you only work a regular 40 hour work week?

That amounts to about 200 days a year of working so we need to recalculate...  (Calculated by dividing 2.3 trillion by 45% of 210 million and dividing the result by 200 - the number of days in a year.)

Doing this we find that if you only work a regular schedule of 40 hours a week its more like $121 a day to fund US social programs.

So if you want to pay your "fair share" of the US social programs cost you have to contribute about $15 an hour each and every hour you work.

At a minimum wage job you go "in debt" about $55 each and every day relative to social programs.

Or, you can figure it this way.

The first $24,000 USD or so you make each year covers only your portion of this cost.

Not your portion of what you might use in the future on Social Security or Medicaid but what the country in spending right now in this regard.

So to reach Tax Freedom Day - the day you have to work until just to cover your taxes (April 17th in 2013) - you then have to make another $24,000 USD to keep old Uncle Sam's social programs current.

But wait!

The National Wage Index according to our government is $42,979.61 USD (other sites make it as high as $48,000).

Let's just assume that its $48,000.

Now you work about 1/4 of the year for taxes, so that's $36,000 of your $48,000 left after you reach Tax Freedom Day.

Take $24,000 from the $36,000 and you have about $12,000 USD left that you could at least somewhat with a straight face claim was "yours."

Of course, this does not count all the past debt the US has encountered.

Figuring in that $16 trillion plus interest and each and every one of us is losing money relative to our "social responsibilities."

This is about seven times the amount we spend each year.

So though you might be taking home a paycheck the value of that paycheck is effectively negative relative to the country, our society and our responsibilities.  This is because if you paid off the past due balance over thirty years and figured in interest, etc. you'd see your $12,000 USD a year dwindle down to nothing or negative.

And this does not even include future obligations - say your own retirement and Social Security and Medicare.  Or even the obligations for the guy living next door retiring next year.

So you are literally working for nothing if you make an average wage.  No matter how much extra time you might put in you will be unable to overtake the arterial cash hemorrhaging out the door at the US treasury.

Even if you confiscate all the money anyone makes as tax beyond a $250,000 as taxes you still cannot keep up with this.

We are broke and sliding backward into an abyss of failure as a nation.

Our social programs are going to cost us more each year because more people are retiring.

Our government is spending more and borrowing the difference.

Our lives cannot make up the difference, i.e., we as a nation are not making enough GDP to repay this debt because its expanding faster than we can pay for it.

We are a nation of takers.

We are taking the future of our grand children to pay for promises made in the past that are impossible to keep.

From 1948 to 2008 the percentage of adult men 20 and older seeking work dropped 13%.

Today 7% of all late thirties males do no work at all.

Not only are we taking from those that work at an unsustainable rate but we are simply "taking off" from society as well by just sitting home and playing video games or becoming a stoner.

We the people who take, our leaders and our government should be ashamed of this.

Its not taking - its simple financial rape.

Just take a look at the definition of "financial rape" in the Urban Dictionary...

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