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<p>[QUOTE=&quot;midas1, post: 1879471, member: 21309&quot;]&quot;It is different this time&quot;</p><p><br /></p><p>Last year more people collected federal benefits (food stamps, federal welfare payments, lifetime disability payments, vocation rehab, etc) than paid taxes.</p><p>This trend will continue for the foreseeable future.</p><p><br /></p><p>Social Security</p><p>In 1950, there were 16 workers paying taxes into the system for every retiree who was taking benefits out of it. Today, there are a little more than three. By the time the baby boomers retire, there will be just two workers who will have to pay all the taxes to support every one retiree.</p><p><br /></p><p><a href="http://www.cato.org/publications/commentary/social-security-follow-math" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.cato.org/publications/commentary/social-security-follow-math" rel="nofollow">http://www.cato.org/publications/commentary/social-security-follow-math</a></p><p><br /></p><p>There is no end of heavy deficit spending.&nbsp; In 2012, I believe we paid about 6% of gross federal revenues to service the debt.&nbsp; That&#039;s six percent we cannot spend of infrastructure, defense, federal welfare programs or to lower taxes.&nbsp; Interest rates are rising and the government is borrowing money with no end is sight.</p><p><br /></p><p>&quot;This year, federal taxation will take up less</p><p>than 15 percent of total national economic activity. That’s the lowest level in</p><p>60 years. In fact, total revenue as a share</p><p>of gross domestic product has now been</p><p>under 15 percent for three straight</p><p>years—the first time that has happened</p><p>since before World War II</p><p><br /></p><p><a href="http://www.americanprogress.org/issues/2011/06/pdf/low_tax_graphs.pdf" target="_blank" class="externalLink ProxyLink" data-proxy-href="http://www.americanprogress.org/issues/2011/06/pdf/low_tax_graphs.pdf" rel="nofollow">http://www.americanprogress.org/issues/2011/06/pdf/low_tax_graphs.pdf</a></p><p><br /></p><p>A lot of middle class jobs such as tool and die makers, parts designers, machinists are going to be disappear due to 3D printing.</p><p>Boeing is on record stating they plan to make most parts for airplanes using 3D printers.</p><p><br /></p><p><br /></p><p>Yes, things are different this time.</p><p><br /></p><p><br /></p><p><br /></p><p>Mike[/QUOTE]</p><p><br /></p>

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