We’re Focked Running! 2012 Most Interesting Stats

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10) Fewer Americans are at work today than in April 2000, even though the population since then has grown by 31 million. – Mortimer Zuckerman

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9) According to Pew, the Americans in the middle half of the income distribution — defined as households from $39,418 to $118,225 — suffered an almost 40 percent wealth loss from 2007 to 2010. Adjusted for inflation, their wealth, consisting mostly of homes, stocks and bonds, was barely greater than in 1983. “Everyone was getting wealthier through the first half of the decade,” says Pew’s Paul Taylor. “Well, a lot of that was paper wealth and housing wealth” — which went poof. Richer households didn’t fare so badly, because they had a smaller share of their wealth in homes. – Robert Samuelson

 

8) After all, if you confiscated the total wealth of the Forbes 400 richest Americans it would come to $1.5 trillion. Which is just a wee bit less than the federal shortfall in just one year of Obama-sized budgets. 2011 deficit: $1.56 trillion. But maybe for 2012 a whole new Forbes 400 of Saudi princes and Russian oligarchs will emigrate to the Hamptons and Malibu and keep the whole class-warfare thing going for a couple more years. – Mark Steyn

 

7) Greece, with an economy 1/50th the size of the U.S., is threatening the economic standing of the rest of Europe because of its growing debt burden, which hit 143 percent of its gross domestic product in 2010. The U.S. is on pace to match that dubious distinction in under 20 years, according to the CBO, and to soar to 716 percent by 2080. Sustaining such debt would require raising marginal tax rates to as high as 88 percent, according to the CBO. – Philip Klein

 

6) No nation is rich enough to give you all this “free” stuff year in, year out. Spain’s government debt works out to $18,000 per person, France’s to $33,000, Greece’s to $39,000. Thank God we’re not Greece, huh? Er, in fact, according to the Senate Budget Committee, U.S. government debt is currently $44,215 per person. Going by the official Obama budget numbers, it will rise over the next ten years to $75,000. As I say, that’s per person: 75 grand in debt for every man, woman, and child, not to mention every one of the ever-swelling ranks of retirees and disabled Social Security recipients — or about $200,000 per household. – Mark Steyn

 

5) Consider this: the U.S. economy has created 2.6 million jobs since June 2009. In the same period, 3.1 million workers have signed up for disability benefits. Back in 1992 there was one person on disability benefits for every 36 people in employment. Now the ratio is 1 to 16. Unemployment is being concealed—and rendered permanent—in ways all too familiar to Europeans. — It is Westerners who are in the stationary state, while China is growing faster than any other major economy in the world. – Niall Ferguson

 

4) Generally speaking, functioning societies make good-faith efforts to raise what they spend, subject to fluctuations in economic fortune: Government spending in Australia is 33.1 percent of GDP, and tax revenues are 27.1 percent. Likewise, government spending in Norway is 46.4 percent, and revenues are 41 percent – a shortfall but in the ballpark. Government spending in the United States is 42.2 percent, but revenues are 24 percent – the widest spending/taxing gulf in any major economy. – Mark Steyn

 

3) Half of all children born to women under 30 in America now are illegitimate. Three in 10 white children are born out of wedlock, as are 53 percent of Hispanic babies and 73 percent of black babies. – Pat Buchanan

 

2) Washington would have to collect $8 trillion in tax revenue, not to pay off our national debt and have reserves against unfunded liabilities, but just to avoid accumulating more debt. Recent IRS data show that individuals earning $66,000 and more a year have a total adjusted gross income of $5.1 trillion. In 2011, corporate profit came to $1.6 trillion. – Walter Williams

 

1) The IMF calculates that to maintain present spending trend the United States will have to nearly double (88 percent increase) all federal taxes to maintain theoretical solvency. – Kevin Williamson

read them all at http://townhall.com/columnists/johnhawkins/2012/12/18/the-2012-most-devastating-stats-of-2012-in-quotes-n1469152/page/full/

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