TrimTabs Investment Research, using U.S. government statistics, says that government handouts, including Social Security, Medicare and unemployment insurance, make up more than one-third of the total wages and salaries of the American population!
The total is 35% this year, compared to only 21% in 2000 and 10% in 1960.
Has America become a nation of lazy louts? It would appear so, especially if you count all the people who work for the local, state and federal governments at high wages, with Cadillac benefits the average private sector worker doesn’t get.
- Source: CNBC, 03/08/11.