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      09-18-2012, 03:22 PM   #21

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Originally Posted by 48Laws View Post
What are these Uncle Sam handouts you speak of. Entitlement programs?
According to the Census Bureau, 49% of Americans in the second quarter of 2011 lived in a household where at least one member received a government benefit. (The total population at the time was 305 million).

Thatís up from 30% in the 1980s and 44.4% in the third quarter of 2008, a recent growth in part attributable to the bad economy of President Obamaís first term.

What are these handouts, as determined by the census bureau?

-Social Security
-food stamps
-assistance with their rent
-unemployment benefits
-Elderly tax benefits (the extra standard deduction for the elderly, the exclusion of a portion of Social Security benefits, and the credit for the elderly)
-child and dependent care tax credit
-Earned Income Tax Credit
-Exclusion of other cash transfers (such as welfare and disability payments)
-Tax-exempt interest and some other deductions, such as for retirement savings
-Itemized deductions
-Education credits