Sorry Mr. President but to a Large Extent We have Become a Nation of “Takers.” And You’re Making it Worse

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President Obama doesn’t seem to have a problem with the fact that 49% of American households get some sort of means tested wealth transfer. And this isn’t even counting tax credits.

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Note to Our Progressive Friends: Check Your Arithmetic

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Critics of crony capitalism are found on both the left and right. This creates a very interesting alliance. For example, left and right work together to audit the Fed. We can also audit each other’s ideas for factual accuracy.

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Report: How Food Stamps Benefit Corporations (EBT is Big Business)

We have written before about the big business of Food Stamps in this country. To Pizza Hut lobbying for Food Stamp use in their restaurants, to JP Morgan servicing the program for hundreds of millions of dollars, it’s not hard to see why SNAP, EBT, WIC, Food Stamps, whatever are becoming more entrenched in our economy and society. There’s a lot of money to be made in these programs.

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Are Charities About to be Thrown Overboard?

President Obama has been proposing to take away the charitable deduction for major donors since coming into office. Since most charitable giving comes from major donors, this would have profound and devastating consequences for the charitable sector of our economy. At the present time it is around 10% of Gross Domestic Product. Without the charitable deduction it could shrink significantly.

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Is Disability the New Welfare?

In 1996 Bill Clinton signed the Personal Responsibility and Work Opportunity Act. It has long been hailed as an example where Republicans and Democrats came together and actually got something very worthwhile done.

The Act deeply reformed welfare in America, and limited its benefits. It moved the administration to the states to a large degree and funding went to the states via “block grants.”

The most important provision of welfare reform is that it limits eligibility to 60 months of the lifetime of the recipient. After 5 years, welfare benefits stop.

This, for some however, is not generous enough. Witness what Vice President Biden’s former Chief Economic Advisor, Jared Bernstein, writes in his recent piece Your Safety Net on Block Grants.

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