Europe’s Most Depressing Chart

Europe’s Most Depressing Chart - Dan Mitchell
"Last month, I shared data on per-capita welfare spending in American states.

• The big takeaway was that states such as New York and California were spending more than twice as much as states such as Texas and Florida. 
• And I concluded that “Florida and Texas presumably are reducing poverty while states such as New York and California are subsidizing it.”

Are there similar numbers for the entire world? 

Can we see which countries have the most redistribution spending, on a per-capita basis?...
Here’s a shocking graph from a 2012 World Bank report.

Keep in mind, as you look at this data, that Europe’s population is only about 10 percent of the world total.
This has to be Europe’s most depressing chart...

• The bottom line is that European welfare states are too burdensome and that won’t end well...