One-Third of U.S. Wages Come From Welfare HandoutsSubmitted by SteveMT on Tue, 03/08/2011 - 19:43
Welfare State: Handouts Make Up One-Third of U.S. Wages
Published: Tuesday, 8 Mar 2011 | 3:59 PM ET
By: John Melloy
Government payouts—including Social Security, Medicare and unemployment insurance—make up more than a third of total wages and salaries of the U.S. population, a record figure that will only increase if action isn’t taken before the majority of Baby Boomers enter retirement.
Even as the economy has recovered, social welfare benefits make up 35 percent of wages and salaries this year, up from 21 percent in 2000 and 10 percent in 1960, according to TrimTabs Investment Research using Bureau of Economic Analysis data.