If your theory is correct then this republic will eventually die. Ross Perot once quoted an ancient political philosopher that a republic cannot survive if voters help themselves to the national treasury by voting in politicians who would tax the nation and hand the money over to them. My state of NJ is now starting to feel the effects of this type of politics where the state workers union, teachers union, county and local government worker unions make up 1 out of 7 voter. Dem politicians pander to them and they are a key fraction in the Dems winning coalition (Dems usually win 10+ percent over GOP). Now we face $ 5 billion annual budget gap, plus a $ 58 billion shortfall in the funds that will give the state workers/teachers free health care if they retire after 25 years of service. NJ Courts ruled this is a contract (unlike Social Security) and the state must meet the obligations (i.e cuts in services and tax increases). NJ may be the first state in the Union to default. In the last five years the US economy was expanding, and NJ is amongst four US states that do not have tax surpluses due to their excessive debt and spending. With the subprime crisis and potential for a recession, NJ budget woes are going to get worst if the US economy enters a slowdown.
The average person will bail out before that. Rather its an armed insurrection or a massive change in government the free lunch is going to end abruptly (Another pet theory of mine but hell, my ability to predict the future is as good as anyone else's—which is to say zip!).