No, sadly, more people are simply leaving the workforce. Here is the scariest
part: As Zero Hedge notes, at this
rate, the number of people out of the labor force will surpass the number of
working Americans in about four years.
Ponder that a moment. There will be more people not earning a regular income
from their labor than there are people collecting a real paycheck. In the
simplest terms, more takers than makers. Even if that rate slows, the overall
trends are terrible. Participation has been collapsing since 2008.
There are business and policy considerations that come from having a country
where more people don't work than do. First, think of government policies. No
matter where one stands on the debate over safety-net programs like welfare and
food stamps, or massive federal undertakings like Obamacare, everyone agrees
that those need taxation to fund them. Taxes come from businesses and
individuals. Both groups, though, when takers outnumber makers, will have less
in income off which to be taxed.
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