Posted on 04/18/2014 11:54:05 AM PDT by 2ndDivisionVet
Here's why you should worry about living in a country where increasing numbers of people can live without working.
Filing our tax returns last week, I deplored government having confiscated 29.7% (effective rate) of my and my wife's joint 2013 income (Federal, 21.7%; state and local, 8%). That seemed scarcely worse than medieval lords confiscating one-third of peasants' crops.
Speaking of lords, both the President of the United States and the Mayor of New York (et uxores) paid 2013 income taxes at lower effective rates than mine and my wife's (20.4% for the President and a measly 8.3% for the Mayor). Maybe there's a tax penalty for living in tract houses clad in middle-class vinyl and plywood instead of public mansions made of government granite and marble.
But here's the real rub: every governmental levy at every level functionally taxes our income. And, if you're anything like me and my wife, your functional rate of income taxation far exceeds the rate at which any 10th-century lord ever confiscated his peasants' labor.
Consider these examples:
● Corporate and business income taxes. These tax your income because producers raise consumer prices to offset their business income taxes;
● Capital gains taxes. The income you use to buy capital assets has already been taxed once, but yet any asset gain is again taxed;
● Sales taxes. Likewise, the income you use to buy stuff has already been taxed once, but yet it's taxed again when you buy the stuff;
● Property taxes. These are also additional taxes on goods you've bought with already taxed income;
● Excise taxes (e.g., fuel, telephone, hotel, etc). These too are additional taxes on stuff you buy with already taxed income;
● Tariff taxes. Same as above, but only for imported stuff you buy....
(Excerpt) Read more at americanthinker.com ...
THE 19 1/2% SOLUTION
http://www.youtube.com/watch?v=OKZsBb3PF6Y&list=UUFDlhK80EdO28R-iGTXiGaw&feature=c4-overview
Businesses DO NOT pay taxes. They COLLECT taxes and imbed the cost in their goods and services. ONLY PEOPLE PAY TAXES.
Neat, huh?
Now, every unit is getting a $25.00 a year increase until I can't rent the units at the higher prices. I'm telling the long term tenants that are complaining that I'm sorry, but when people start taking the food off my table that feeds my family I will find a way to get it back.
If things don't change, (I really don't think they will), my last option is to convert the apartments to condos, sell them off, pay my taxes and move out of the country.
Nice video.
Medieval lords confiscated one-third of peasants’ crops, and then left them alone.
Now they take half our ‘crop’, and then tell us how we are allowed to live our lives.
I don’t see my Self Employment tax on that list. I pay the full 13% Social Security boat. Also not on that list is our new “Health Insurance Tax.” Since heath care insurance is mandatory and has been declared a tax by the Supreme Court you can add those premiums to your list. Also not on the list, but could be are the money we pay out to government agencies and government regulated monopolies like the water district, and the public utilities.
Thank you.
I remember my first exposure to the good Rabbi Lapin when at a hospital when my wife was in the middle of labor. The waiting caused me to watch television, way back when. I recall thinking that I could listen to him for a long time and not get fatigued.
Yes, he is a good man and conservative.
The author provides a lot of tax details, which is good.
But, a simpler way to look at it is to follow the ratio of government spending at all levels to income. The earner will pay for it, either in taxes, or over a longer term, through inflation (if the government runs a currency-degrading deficit).
No less a luminary than Milton Friedman said that the measure of government’s burden was its spending.
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