The Dow is at or near record territory. Unemployment is the lowest it’s been since President Obama was first sworn in. Tax receipts are back up near their historic rate of 19% of GDP. So what’s this then:
On Friday, the United States Department of Agriculture quietly released new statistics related to the food stamps program, officially known as SNAP (the Supplemental Nutrition Assistance Program). The numbers reveal, in 2012, the food stamps program was the biggest it’s ever been, with an average of 46,609,072 people on the program every month of last year. 47,791,996 people were on the program in the month of December 2012.
Welcome to Obamanomics in full swing. Growth is slow and low. The rich get richer. And the poor… well, the change is that the hope gets sucked right out of them. Oooh, SNAP!
Look, it’s true that we’re socking it to the rich, especially with the new ObamaCare taxes on investment income. But what it is, is protection money. The rich pay more, but in a stratified, almost feudal economy.
Entrepreneurship is nearly dead, by design. The rich aren’t just getting richer, they’re also protected from young upstarts who either can’t get capital, or can’t afford the increased regulatory burden. If you’re a top earner, wouldn’t being made safe from whippersnapper upstarts be worth paying a little more off the top?
The best part is, you’re able to point to your increased tax bill and claim all the moral superiority that comes with it. This is the biggest — and perhaps oldest — con game in human history.
And all it took was a bare majority of low-information voters in a low-turnout election to turn 98% of a nation into suckers.