Government Control of Private Wealth Could Reach 58%
Major Portions of GDP Coming Under Federal Control
In July of 2009, a University of Arizona economist, Professor William Boyes, stated that the federal government owns or controls 30 percent of private wealth in America.
Boyes said his calculations were rather simple in nature not even worthy of a Nobel Prize.
I simply added up how much of GDP [gross domestic product] was govt run or govt controlled. I gave an approximation that is pretty conservative. I suspect the actual number is more like 40%; if health care goes through then it will rise to over 50%.