The Swiss Economist alerts me to this wonderful article in the WSJ on the topic of wealth transfers and entitlement spending. Some excellent data and charts that will show you just how much money you are giving to your neighbors in the form of entitlements (forced “charity”). Oh, correction. It’ll show you just how much of your money your are giving to two of your neighbors since roughly 50% of all Americans received transfer payments; or, it’ll show you just how much of a burden you are on your neighbors.

Do you think you could do a better job than the government allocating $7,200 dollars (your share of the entitlement burden) for charitable purposes? The “good ol’ days” might have been good because private charity existed; it had not yet been thoroughly crowded out by the forcible transfer of wealth by the government.

Transfer payments constitute not just a vast expansion of the power and control of government. They also represent massive vote buying.

-JD Cross

Update: I see that Don B and Greg Mankiw have both also posted/commented on this WSJ article. It’s important. Read it.

Advertisements