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by opo 1920 days ago
>... but the bottom has no floor.

That really doesn't represent reality.

The majority of federal spending goes to transfer payments:

>...The federal government spent $2.87 trillion on transfers to individuals in 2017, accounting for 72.2 percent of federal spending.

https://www.concordcoalition.org/issue-brief/troubling-trend...

One estimate is that about 22% of state government is spent on public welfare:

>...Another 22 percent of expenditures went toward public welfare. Public welfare includes spending on means-tested programs, such as Medicaid, Temporary Assistance for Needy Families, and Supplemental Security Income.

https://www.urban.org/policy-centers/cross-center-initiative...

The people of the US also give a great deal of money to charity:

>...The United States has been the most generous country in the world over the past decade.

>That’s the conclusion of the World Giving Index, a ranking that measured how likely residents of 128 countries were to practice acts of generosity.

https://www.marketwatch.com/story/the-us-is-the-most-generou...

>...Americans give around 3 percent of our collective income to charity — more than the citizens of any other country. Better yet, these are individual Americans, not the government, who are generating the lion’s share of the contributions.

https://www.thetimesherald.com/story/opinion/columnists/2017...