Wealth Redistribution Crushing To Young Workers
Barack Obama once told “Joe the Plumber” that his goal as president was wealth redistribution. President Obama is sadly making good on his promise, and it is crushing to young workers, one of his strongest support groups. Their typically meager incomes are being hit on multiple new redistributive fronts.
The most visible is due to the ever mounting national debt. Just like an individual must pay off their maxed out credit card, the interest on the debt must be paid, but by this time by taxpayers. The size of that interest payment is growing larger each year.
Debt Interest vs Defense Budget
Past OMB analysis projected that the annual cost for these payments would exceed the Department of Defense budget in the 2017 time frame, and grows rapidly from there. In addition to the interest, President Obama and the Democrat Senate continues to spend like drunken sailors (my apologies to drunken sailors for the comparison) and further increase the magnitude of the debt, and interest payments. Young American workers are enslaved to this debt and will likely work their entire lives under high tax rates and never see it paid off.
Another massive cause of wealth redistribution is from Obama Care. As in the case of Social Security, money is taxed from the young and throughout their lives will be used to offset the much higher health premium costs of the elderly.
“The Average Cost Of Single Coverage Premiums Has Increased By $1,180, From $4,704 To $5,884, A 25 Percent Increase.” Kaiser Family Foundation. Those costs will go to cover the premiums of the elderly, and constitute another wealth transfer. Given that Obama Care is unsustainable, as is social security in its current form, the likelihood that any of this money will come back to them in the future is extremely remote.
As if Obama Care wasn’t bad enough, along comes immigration reform. The Senate Bill, recently passed, should it become law, would cause employers to hire once “illegal immigrants” over American Citizens and legal immigrants. Obama Care penalties and requirements would not apply to illegal immigrants once the bill becomes law. Unbelievably, they would exist outside the scope of Obama Care. As such, it would be cheaper for businesses to hire these workers, effectively redistributing their wealth to people who broke the law to enter the United States. Young workers, new to the work force, are most at risk of losing opportunities since older workers have much greater skill sets, work histories and are already well established in the labor force.
Sadly, Democrats aren’t satisfied to just redistribute wealth within the United States. They have long supported doing the same thing at an international level. Wealth transfers from the US as a result of the Global Warming hoax is the first one, and easiest to prevent.
The pattern is clear, take from the young, and redistribute, redistribute, redistribute!