Source: Orange County Register
by David Pan
“The United States government currently spends over $4 trillion per year on welfare and entitlement programs, redistributing over 80 percent of our nation’s annual tax revenue through a gauntlet of outdated and inefficient programs. To many, the above sentence is sacrilege. Welfare programs like food stamps, housing vouchers, and supplemental security income are a bedrock of democracy and fair economics, I hear you say. And that may be true, but there is also evidence that these programs have prevented many Americans from earning their own money and building their own wealth, creating perverse incentives to depend on government funding and entrapping too many in poverty. There is also the very real problem that Social Security faces insolvency by 2034, at which point benefits are expected to be cut by 20%, creating yet more poverty.” (04/21/24)