Government Is Destroying our Standard of Living

The inflation-adjusted net worth for the typical household was $87,992 in 2003. Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation. Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower. 

  • Government is taking a much bigger share of the economy.
  • Government understates inflation which results in an overstatement of real GDP.
  • Taxes are higher, especially on capital gains which are unadjusted for inflation and taxed as if they were true gains.
  • Government interventions have destroyed the economy’s ability to grow.
  • Government transfer payments have reduced the workforce, spreading a reduced output over more people.
  • Government’s encouragement of the use of debt has created behavior not in the best interests of unsophisticated citizens.

http://www.americanthinker.com/2014/07/government_is_destroying_our_standard_of_living.html

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