In 2009 Newsweek ran a cover with the headline “We are all Socialists Now”. At the time, tax year 2008 data was out that showed 49% of Americans paid no federal taxes. 2009 tax data was similar in that 47% of Americans paid no federal taxes. Most of these that do not pay taxes receive government payouts, or “transfers”, as economists call it.
In reality, this is the redistribution of wealth, or Socialism.
Now we learn that in 2010 the government paid out more in handouts than it took in tax revenue.
Even if you believe the government programs of Social Security, Medicare, Medicaid, and stimulus are some great altruistic programs, do you really believe it makes sense to run the printing presses at the treasury to support such programs?
The last time the United States government paid out more in handouts than it received in tax revenue, we ended up with a four term President.
I have argued before that politicians are working to create a block of voters who will never vote them or their party out of office. We are nearly there. This country will never had a Socialist revolution. Rather, a majority of Americans will happily choose this path in the voting booth because they were paid to make that choice.