Middle Class Tax Churning And The Risk Of Riots
From the desk of Friedrich Hansen on Wed, 2012-06-13 15:00
Presently everybody is talking about variants of austerity measures regarding public expenditures imposed on us by the financial crisis. Most Western governments are running huge debts and there is no relieve in sight unless we cut spending and - if we follow free marketers - thoroughly de-regulate the economy. But it is entitlement reform that has been long ago established as the pivotal tool for mending unsustainable economics in most Western governments. Growing resources needed to serve entitlements according to some are even to blame for the loss of confidence with many investors. The projected future runaway train of entitlement costs refers to the whole range of social security, including such things as food stamps, income support, rent assistance, health care and state pensions, the bulk of which is absorbed by the middle class.



