Today's Coming Crisis Movie

Thursday, August 25, 2011

"Taxed Into Oblivion"

In the United States today, we are being taxed into oblivion, yet it is being done so stealthily that most Americans don't even realize what is happening. Most people are fixated on federal income tax rates, but the federal income tax is only one of the dozens of different taxes that each of us pay each year. The politicians have learned that people get really upset when income tax rates are raised, so they have found hundreds of other ways to raise taxes on us. What most taxpayers in the United States today are facing is "death by a thousand cuts". When you add up all forms of taxation from all levels of government, approximately 40 percent of all the income in the country is taken in as taxes by government. Large numbers of Americans end up paying well over 50 percent of their income in taxes, and many of them don't even realize that it is happening. We truly are being taxed into oblivion, and yet the politicians just keep coming back for more.

On all levels, government just keeps growing, and all of this government has got to be paid for somehow. Politicians have become masters at finding ways to tax us so that we won't even feel it. They have an endless hunger to spend more money, and they depend on us to feed that addiction. Today, the combination of federal government spending, state government spending and local government spending now accounts for a larger share of U.S. GDP than at any other time in our history.

Yes, federal income tax rates were significantly higher 30 or 40 years ago. But virtually every other tax you can think of has gone way up since then or did not exist back then. more