It’s easy, says P.J. O’Rourke.  You’re rich if you pay double for everything:

The good news is that, according to the Obama administration, the rich will pay for everything. The bad news is that, according to the Obama administration, you’re rich.

You may be surprised to discover you’re rich, especially if you’re broke. How do you know you are a member of the penurious plutocracy? Take this simple test: See if you pay double for everything.

The financial bailout, for example. Pay for it once with your IRA and 401(k) plan investments. Now pay for it again with your tax dollars.

Ditto with the economic stimulus. Write checks to cover your mortgage payment, utilities, insurance premiums, car loan, basic cable, high-speed Internet access, Visa, MasterCard, and American Express bills, and turn your teens loose in the Old Navy store. Think you’re done stimulating the economy? I think not. You’ve also lent President Obama a godzillion dollars to go on an economically stimulational shopping spree of his own. For collateral the Bank of Obama is using a mortgage on that home of yours called America and a lien on all the future earnings of your children.

…And never is paying double as doubly troubling as it is in the matter of retirement. You have to pay into Social Security and into your IRA and your 401(k) plan and put some more money in your savings account too. You have to pay Medicare tax and buy Medicare supplemental insurance and contribute to a medical savings account and make doctor bill co-payments besides. And the funding for Social Security and Medicare is so under-financed and actuarially shaky that you cannot be certain those programs will exist at all by the time you’re eligible for them. And you’re 64.

Read the rest at the link.

Imagine that.  We’ve all attained the American Dream and didn’t even know it.

Thanks to Lucianne

Advertisements