MEDICARE HIKE IN OBAMA BUDGET COULD HIT SOME IN MIDDLE CLASS

http://cowboybyte.com/20795/medicare-hike-in-obama-budget-could-hit-some-in-middle-class/

WELFARE SPENDING = $168/DAY/EVERY HOUSEHOLD IN POVERTY: MEDIAN INCOME $137/DAY

Welfare Spending Equates To $168 Per Day For Every Household In Poverty: Median Income $137 A Day

Posted: 08 Dec 2012 08:56 AM PST

By Susan Duclos

Welfare benefits can and should be available to help those unable to work, but is meant as a temporary measure for those able to work but have fallen on hard times, but what happens when the government makes it more profitable for those living in poverty to receive welfare benefits than it is to go out and work?

Answer: Out of control government spending that equals more than Social Security, Medicare, or national defense.

Senate Budget Committee Ranking Member, Jeff Sessions has released a chart that calculates data from CRS, the Census Bureau and the Oxford Handbook of State and  Government Finance, that shows that total welfare spending equates to nearly $168.00 per day for every household in poverty and if converted to cash payments, the hourly rate exceeds median income by 20 percent. (That is before the median income workers pay taxes!) - H/T TWS

 Based on data from the Congressional Research Service, cumulative spending on means-tested federal welfare programs, if converted into cash, would equal $167.65 per day per household living below the poverty level. By comparison, the median household income in 2011 of $50,054 equals $137.13 per day. Additionally, spending on federal welfare benefits, if converted into cash payments, equals enough to provide $30.60 per hour, 40 hours per week, to each household living below poverty. The median household hourly wage is $25.03. After accounting for federal taxes, the median hourly wage drops to between $21.50 and $23.45, depending on a household’s deductions and filing status. State and local taxes further reduce the median household’s hourly earnings. By contrast, welfare benefits are not taxed.

The universe of means-tested welfare spending refers to programs that provide low-income assistance in the form of direct or indirect financial support—such as food stamps, free housing, child care, etc.—and which the recipient does not pay into (in contrast to Medicare or Social Security). For fiscal year 2011, CRS identified roughly 80 overlapping federal means-tested welfare programs that together represented the single largest budget item in 2011—more than the nation spends on Social Security, Medicare, or national defense. The total amount spent on these federal programs, when taken together with approximately $280 billion in state contributions, amounted to roughly $1 trillion. Nearly 95 percent of these costs come from four categories of spending: medical assistance, cash assistance, food assistance, and social / housing assistance. Under the President’s FY13 budget proposal, means-tested spending would increase an additional 30 percent over the next four years.

In 1996 President Bill Clinton signed the Personal Responsibility and Work Opportunity Reconciliation Act. Under the act, the federal government gives annual lump sums to the states to use to assist the poor. In turn the states had to adhere to certain criteria to ensure that those receiving aid are being encouraged to move from welfare to work. While criticized at the time, the measure was a resounding success as welfare rolls decreased and employment increased.

Recently Barack Obama gutted Clinton's welfare reform by issuing a new directive stating that the traditional TANF work requirements can be waived or overridden by a legal device called the section 1115 waiver authority under the Social Security law.

Through a number of actions by the Obama administration over the last four years, more people are now on foodstamps and receiving welfare benefits than has been seen in recent history.

Those numbers are about to get larger.

The American economy is like a pie that gets bigger when investors invest their money, businesses start, grow, and employ more workers, thereby putting more taxpayers into the system and less on welfare.

Let's look at what is happening instead, Barack Obama wants to raise taxes on the so-called rich, which includes 24 percent of small businesses, 2.1 million of them, which employ 93 percent of all workers that work in small businesses. Added to that, more of the taxes written into Obamacare are about to go into effect.

Businesses owners across the country have confirmed that they are planning to hire less in 2013, fire more people and others have cut worker's hours to under 30 hours a week to avoid the additional costs of having to provide healthcare for full time workers, which under the Obamacare law, is now workers that work more than 30 hours.

Wisconsin and Iowa business owners have cited taxes, Obamacare, and regulations, as the reasons for the decrease in planned hirings and the increase in planned firings. Gallup has confirmed that it is a nationwide trend.

How many of those planned layoffs will result in workers no longer earning a paycheck and instead being forced to apply for welfare benefits?

One would think if unemployment went down, more people would be working and less would need welfare, right?

Wrong. The exact opposite is happening. Unemployment is going down but foodstamp enrollment is surging.

The recent unemployment report by the labor department shows why what should be happening is not. Unemployment dropped to 7.7 percent, not because more people are working, but because 350,000 have completely dropped out of the workforce.

The result? The topline unemployment numbers decreases, yet welfare usage increases.

The real kicker here is that Obama knows what his policies have done and what his proposed policies will do, as evidenced by his budget proposal which would increase welfare spending by 30 percent over the next four years.

Who does Obama want to pay that extra 30 percent? Businesses owners and the so-called rich and if they are paying that money to the government, it is that much less they have to spend on their businesses, invest and hire more workers. It is a viscous circle.

The American economy, that pie, is getting smaller yet there are more people lining up to get a slice.

What happens when the pie is gone?

Answer: You have Obama's economy, where it pays better to not work and go on welfare than it does to work to support yourself and your family.

BEND OVER AMERICA - HERE IT COMES! $3 TRILLION TAX INCREASE ON THE MIDDLE CLASS. DID YOU VOTE FOR OBAMA? DIDN'T QUITE UNDER "REDISTRIBUTION OF WEALTH, DIDJA? HUH?

http://www.wnd.com/2012/12/coming-3-trillion-tax-increase-on-middle-class/

NO WONDER HE'S LEAVING THE MAINLAND FOR HAWAII WITH HIS ARMORED VEHICLES AND HELICOPTERS - ADD ANOTHER $4 MILLION OF TAXPAYER BURDEN FOR HIS VACATION - AND FOR THE ENTOURAGE, THE FRIENDS, ETC.

I DIDN'T VOTE FOR THIS.  WERE YOU, ONE OF THE MORE THAN 100 PERCENTERS WHO DID?

Doesn't matter what color or religion you are, he's going to make you pay, SUCKERS!

WILD BILL - ONLY IN AMERICA - A POWERFUL VIDEO - IT'LL MAKE YOU THINK (EVEN YOU LIBERALS)

http://fellowshipofminds.wordpress.com/2012/10/24/only-in-america-2/

DID YOU KNOW OBAMA TAUGHT "DESTROY THE MIDDLE CLASS"?

http://www.canadafreepress.com/index.php/article/50229?utm_source=CFP+Mailout&utm_campaign=358a17d2e1-Call_to_Champions&utm_medium=email

OBAMA'S TAX PLAN FROM THE DEPTHS OF HELL WILL IMPOVERISH THE MIDDLE CLASS

http://www.independentsentinel.com/2012/09/obamas-tax-plan-from-the-depths-of-hell-will-impoverish-the-middle-class/

BEWARE THE DICTATOR'S VIEW OF SUBURBIA...HE DOESN'T LIKE IT

http://romanticpoet.wordpress.com/2012/08/01/obamas-view-of-suburbia-be-careful-america/

CHINA'S MIDDLE CLASS GROWS, DIPPED IN GOLD

As China's middle class grows, and luxury items become the norm, gold will continue to be consumed voraciously, say analysts.

Shivom Seth
June 15, 2012
www.mineweb.com
MUMBAI (MINEWEB)

The rise of China's middle-class is helping support demand for gold in the country. China, the largest producer of gold, is set to become the biggest consumer of the metal in 2012, with a significant proportion of luxury purchases in China veering towards gold accessories, bought by middle-class aspirational consumers.
By 2020, 25% of China's population is expected to be middle-class, creating great consumption demand. Diamond studded luxury items and gold watches are seeing 'blow-out like demand' from wealthy shoppers in China, who are snapping up these expensive accessories to make a fashion statement, give as business gifts or just collect.
What also augurs well this year is that middle-class wealth is expected to spread to 600 million people in third-tier Chinese cities, with a sizeable percentage investing in gold or buying gold jewellery.
For a country whose gold production in the first four months of 2012 reached 109.6 tonnes, up 6.13% from the same period last year, passion for the yellow metal has scaled new heights.
Total retail sales of gold, silver and jewellery in China amounted to $2.82 billion in May, up 18.2% compared to the same period last year, according to the National Bureau of Statistics of China. Accumulative retail sales of the segment in the first five months of 2012 reached $14.6 billion, up 16.1% compared to the same period last year.
In May, the country's overall retail sales of consumer goods including gold, silver and jewellery totaled $262 billion, up 13.8% year-on-year at nominal growth rates. The real growth rate was 11%, data showed.
The jewellery sector in China has become a hot spot fuelled by surging investment demand for gold and precious stones. Jewellery retailers registered a 42% increase in sales last year, driven by consumers' taste for gold and gemstone-encrusted jewellery. Reports indicate that these jewellers are looking beyond traditional markets, eager to dig into the pockets of the newly rich middle-class in smaller cities.
For some time now, the country's growing middle-class has been pursuing a quality of lifestyle that includes appreciation for exquisite fine jewellery. And, retail jewellery chains are expanding to smaller cities and districts to keep up with demand.
Laofengxiang, which had over 2,015 outlets nationwide by the end of 2011, heavily relied on franchises and distributors in its race to gain market share. The Shanghai based jewellery brand, raked in 21.1 billion yuan ($3.31 billion) in 2011, with a total profit of 911 million yuan, according to a recent statement filed at the Shanghai Stock Exchange.
Similarly, Chow Tai Fook, which holds a dominant market share in Greater China's jewellery retail business, established a network of more than 1,500 jewellery and watch points of sale. The name is considered equivalent to Tiffany & Company or Cartier. The firm recently launched an initial public offering (IPO) in Hong Kong that raised $2 billion to fund future growth and expansion.
Emperor Watch and Jewellery is another high-end watch and jewellery retailer in the region. With 82 self-operated shops, it derives 82% of sales from Hong Kong, 11% from China and 7% from Macau. A recent report by CLSA, an independent brokerage and investment group, notes that the company is in a high growth phase, delivering a 41% net profit CAGR since 2007.
Though Piaget's jewellery is among the most popular in China, and Bulgari has a huge presence in China as well with 20 boutiques on the mainland and several others in Hong Kong, the latter's jewellery sales in the country jumped 76% in 2011. The luxe brand is to hold a retrospective exhibition to mark its 125th anniversary in Beijing later this month.
Several European and American luxury brands such as Cartier and Tiffany have established mature markets in first-tier Chinese cities, but domestic brands such as Laofengxiang and Laomiao, as well as Hong Kong-based Chow Sang Sang and Chow Tai Fook, dominate second-tier cities.
Smaller jewellery brands are also set to vie for market share in the third and fourth-tier cities, according to Liu Jianhua, deputy secretary of the Diamond Division of the Gems and Jewellery Trade Association of China.
He pointed out that China's jewellery retail market has been upbeat over the past two years, with total retail sales surging 40% year on year from $39 million in 2010 to $60 million in 2011.
Another indication of the citizens' passion for gold jewellery and gems is the Hong Kong Jewellery and Gem Fair set to open on June 21, which is 14% bigger in exhibition space this year. As the income of Chinese citizens continues to rise, analysts say a significant market will be created for gold.
Luxury brands cannot ignore the preferences of Chinese buyers any more, with several under pressure to open more retail outlets in China. For instance, currently, Hermes has 20 shops in China, fewer than half of the number of shops it has in Japan. Chanel has only eight boutiques in China. There are more than 50 in Japan.
The traditional desirability for gold has ensured that even Montblanc watches and writing instruments, that contain gold, have turned out to be best sellers in China.
According to CLSA, mainland Chinese consumers are the single biggest group of tax-free shoppers in the world. China's wealthy "maintain their luxury goods budget at 23% to 25% of spending. It was the country's rising middle class that largely drove a 46% hike in jewellery sales last year,'' the CLSA Asia-Pacific Markets report, titled 'Dipped in Gold 2012' has points out.
The report notes that China's economic slowdown will not greatly impact spending on luxury goods, demand for which is set to expand by 24% this year. By 2015, the country's appetite for gold bars, coins and other gold-backed products will have risen to new heights. Since most middle class Chinese consumers consider themselves on their way to riches, luxury spending on gold is expected to help buoy demand for the precious metal.

http://godfatherpolitics.com/4274/obamacare-raising-taxes-middle-class-breaking-president-barack-obama-promise/

GROWING WEALTH GAP - MEMBERS OF CONGRESS RULE SURVEY REVEALS WHY THEIR WEALTH TRIPLES WHILE MIDDLE CLASS DROPS

http://www.dailymail.co.uk/news/article-2078964/Growing-wealth-gap-members-Congress-rule-survey-reveals.html#ixzz1hk8pAfrq

The study covers 25 years.

We were much more prosperous 25 years ago than we are now. We are being sucked dry at every turn.

ARE YOU A WHITE AMERICAN? HOMELAND SECURITY THINKS YOU ARE A TERRORIST!

THIS IS THE MOST UNBELIEVABLE, IRRATIONAL, HATE SPEECH YOU WILL FIND ON THE NET TODAY. JANET NAPOLITANO, HEAD OF HOMELAND SECURITY, DARES ACCUSE THE WHITE MIDDLE CLASS OF BEING TERRORISTS!

THIS WOMAN IS MAD...IN THE TRUE SENSE OF THE WORD. SHE HAS BECOME INSANE WITH POWER, CRAZED WITH IT.

ENOUGH! THIS IS MADNESS AT THE HIGHEST LEVELS OF GOVERNMENT WITH OBAMA'S SANCTION AGAINST THE AMERICAN PEOPLE.



http://beforeitsnews.com/story/844/504/NL/DHS:_White_Americans_as_Most_Likely_Terrorists.html


http://www.prisonplanet.com/dhs-video-characterizes-white-americans-as-most-likely-terrorists.html

THE MIDDLE CLASS IS A THING OF THE PAST IN OBAMAWORLD

http://www.thecomingdepression.net/countries/eurasia/the-middle-class-game-is-up-were-heading-to-a-slave-labor-planet/?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Thecomingdepressiondotnet+%28TheComingDepression.net%29

Obama and the end of the middle class

http://www.newswithviews.com/LeMieux/michael106.htm

OBAMACARE'S WAR ON THE MIDDLE CLASS COMES WITH A $15,000 PRICE TAG

YES! $15,000.00 FOR EVERY MIDDLE CLASS FAMILY IN AMERICA.

ARE YOU PREPARED TO MAKE A PHONE CALL, SEND A FAX OR AN EMAIL TODAY?

TOLL-FREE TO CONGRESS - 877-851-6437.


http://www.prisonplanet.com/obamacare-to-cost-middle-class-families-15000-a-year.html

I feel like Paul Revere - "The Tax Hike is Coming, The Tax Hike is coming"

and it is: http://blog.heritage.org/

Those who voted for Obamessiah are going to pay, and pay, and pay, and you'll never recover. It'll be too late until you remove him and his cronies like Reid and Pelosi, Geithner, and the other henchmen from office.