The Treasury Department released a fiscal report the other day.
It shows the feds will take in a record of approximately $765,645,000,000 in tax revenues in the first three months of fiscal 2016.
That’s approximately $5,107 for every person in the country who had either a full or a part-time job in December. That’s an increase over 2014 when the amount taken from paychecks was $5,028 per worker.
Taxes keep going up. The government increased its confiscation about $24,288,810,000 in constant 2015 dollars from the $741,356,190,000 in revenue.
It spent around $981,190,000,000 but ran a deficit of approximately $215,546,000,000.
So, what do you get for your money?
More war, Obamacare at gunpoint, lavish bailouts for “too big to fail” (and too big to be prosecuted) banks, corporate welfare and “foreign aid” to preferred nation states really good at proselytizing Congress.
Now Republicans want a flat tax.
It’s an election year gimmick, of course.
“Republicans invariably talk about the need to shift to a flat tax that is both ‘fair’ and ‘simple,’ yet still raises enough money for the federal government. The tax rates are hardly ever mentioned. Rarely is the amount of money the federal government actually spends ever pointed out. And the fact that taxation is institutionalized government theft is certainly never stated,” writes Laurence M. Vance.
Hillary Clinton is more upfront. She wants a 4 percent “surcharge” on Americans making more than $5 million annually.
“Perhaps the biggest problem with Clinton’s plan is that the federal government already taxes and spends too much. The American economy and average citizens would be better off if the size and scope of the government were reduced. Clinton’s tax increase would not solve any problems, but rather would add fuel to the fire of rampant bureaucratic failure in Washington,” notes Chris Edwards.
Bernie Sanders wants to tax the endangered species known as middle class. Appearing on NBC’s “Meet the Press” in December, he refused to back Clinton’s pledge to not tax anybody earning under $250,000 a year.
He said his increased confiscation would only be a meager $1.61 a week.
Sure. And there’s a bridge for sale in Brooklyn.
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