Read

User menu

Search form

Straight Numbers On the Rich, the Un-Rich And Who's Really Taking Entitlements

Straight Numbers On the Rich, the Un-Rich And Who's Really Taking Entitlements
Thu, 9/4/2014 - by Paul Buchheit
This article originally appeared on Nation of Change

Americans constantly hear about the threat of "entitlements," which in the case of Social Security and Medicare are more properly defined as "earned benefits." The real threat is the array of entitlements demanded by the very rich. The following annual numbers may help to put our country's expenses and benefits in perspective.

$220 Billion: Teacher Salaries

According to the Bureau of Labor Statistics there are just over four million preschool, primary, secondary, and special education school teachers in the U.S., earning an average of $54,740.

$246 Billion: State and Local Pensions

Census data shows a total annual (2012) payout of about $246 billion. Only about $100 billion of this came from state and local governments, with the remainder funded by employee contributions and investment earnings. A recent Pew study showed a little over $100 billion in annual state contributions to pensions, health care, and non-pension benefits.

$398 Billion: Safety Net

The 2013 safety net (non-medical) included the Supplemental Nutrition Assistance Program (SNAP), WIC (Women, Infants, Children), Child Nutrition, Earned Income Tax Credit, Supplemental Security Income, Temporary Assistance for Needy Families, Education & Training, and Housing.

$863 Billion: Social Security

Social Security is the major source of income for most of the elderly, and it is an earned benefit. As of 2010, according to the Urban Institute, the average two-earner couple making average wages throughout their lifetimes receive less in Social Security benefits than they paid in.

$2,200 Billion: Tax Avoidance

That's $2.2 trillion in tax expenditures, tax underpayments, tax havens, and corporate nonpayment. It is estimated that two-thirds of tax breaks accrue to the top quintile of taxpayers.

$5,000 Billion: Investment Wealth

That's $5 trillion a year, the annual amount gained in U.S. wealth from the end of 2008 to the middle of 2013. Even though the whole country continued to grow in productivity, most of the new wealth went to the very richest people. According to Oxfam, the wealthiest one percent captured 95 percent of post-financial crisis growth since 2009, while the bottom 90 percent became poorer.

Another View: Annual Per Capita Numbers

The following are averages, which are skewed in the case of tax breaks and investment income, as a result of the excessive takings of the .1% and the .01%. Details of the calculations can be found here.

$8,600 for each of the Safety Net recipients.

$14,600 for each of the Social Security recipients.

$27,333 for each of the Pension recipients.

$54,740 for each of the Teachers.

$200,000 for each of the Tax Break recipients among the richest 1%.

$500,000 for each of the Investment Income recipients among the richest 1%.

The super-rich feel they deserve all the tax breaks and the accumulation of wealth from the productivity of others.This is the true threat of entitlement.

Originally published by Nation of Change

3 WAYS TO SHOW YOUR SUPPORT

ONE-TIME DONATION

Just use the simple form below to make a single direct donation.

DONATE NOW

MONTHLY DONATION

Be a sustaining sponsor. Give a reacurring monthly donation at any level.

GET SOME MERCH!

Now you can wear your support too! From T-Shirts to tote bags.

SHOP TODAY

Sign Up

Article Tabs

The recent decisions by two of the most influential national newspapers of record to not publish their endorsements of Vice President Kamala Harris says a lot about how seriously they take Trump’s threats to democracy and his promises of vengeance against his enemies.

On the eve of the historic November vote, it seems important to ask: What's wrong with men, how did we get here, and can we change this?

As Trump’s campaign grows increasingly bizarre, his team appears to be more tightly controlling his movements and carefully scripting his public appearances to minimize the negative impact his erratic behavior may have on undecided voters in swing states.

Throughout history, fascist governments have had a similar reliance on the use of lies as a weapon to take and retain power.

Former President Donald Trump is now openly fantasizing about deputizing death squads against Americans.

The recent decisions by two of the most influential national newspapers of record to not publish their endorsements of Vice President Kamala Harris says a lot about how seriously they take Trump’s threats to democracy and his promises of vengeance against his enemies.

On the eve of the historic November vote, it seems important to ask: What's wrong with men, how did we get here, and can we change this?

As Trump’s campaign grows increasingly bizarre, his team appears to be more tightly controlling his movements and carefully scripting his public appearances to minimize the negative impact his erratic behavior may have on undecided voters in swing states.

Throughout history, fascist governments have had a similar reliance on the use of lies as a weapon to take and retain power.

Former President Donald Trump is now openly fantasizing about deputizing death squads against Americans.

On the eve of the historic November vote, it seems important to ask: What's wrong with men, how did we get here, and can we change this?

Posted 1 week 4 days ago

Former President Donald Trump is growing increasingly deranged, yet the media is asleep at the wheel.

Posted 1 month 3 weeks ago

Former President Donald Trump is now openly fantasizing about deputizing death squads against Americans.

Posted 4 weeks 40 min ago

The 2024 Republican ticket’s incitement of violence against Haitian migrants in Springfield, Ohio, is revealing in more ways than one.

Posted 1 month 1 week ago

Throughout history, fascist governments have had a similar reliance on the use of lies as a weapon to take and retain power.

Posted 3 weeks 1 day ago

Throughout history, fascist governments have had a similar reliance on the use of lies as a weapon to take and retain power.

Former President Donald Trump is now openly fantasizing about deputizing death squads against Americans.

As Trump’s campaign grows increasingly bizarre, his team appears to be more tightly controlling his movements and carefully scripting his public appearances to minimize the negative impact his erratic behavior may have on undecided voters in swing states.