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This is the kind of stuff that doesn’t make for the dramatic stories the media loves to glom onto, but it’s certainly a dramatic impact to every American — and should be very disconcerting to anyone who’s paying attention.
That infamous date is coming next week: April 15th, tax day — well, that is if you didn’t get an extension. You must be asking, where are my tax dollars going in America? When we continue to experience this massive debt and growing deficits — the deficits are set to hit trillion dollars again by 2020 — what are we getting for these “investments?”
I truly find it humorous that the progressive socialist left would hijack language and try to make us believe government invests — it spends. It government invests, then please, send me a statement that shows my ROI, my return on investment.
My girls are educated in private schools — that we pay for out of our pockets directly. The military is being decimated. The best roads around here in the Dallas-Ft Worth metroplex are the toll roads, which I gladly pay for.
So whazzup with this?
Well, here’s an answer, as reported by the Washington Examiner — and if Americans are paying attention, it should give even the Democrat electorate serious pause before voting in the likes of Hillary Clinton or Bernie Sanders, who are only going to exacerbate the situation.
“A tax advocacy group on Wednesday revealed that Americans spend more on taxes than their whole budget for food, clothing and housing.
The Tax Foundation, in its annual report on when the nation as a whole has earned enough to pay its taxes, announced the date as April 24.”Tax Freedom Day gives us a vivid representation of how much federal, state, and local tax revenue is collected each year to pay for government goods and services,” said Tax Foundation Analyst Scott Greenberg.
“Arguments can be made that the tax bill is too high or too low, but in order to have an honest discussion, it’s important for taxpayers to understand the cost of government. Tax Freedom Day helps people relate to that cost.”
The report’s key findings include:
- Collectively, Americans will spend more on taxes in 2016 than they will on food, clothing, and housing combined.
- Americans will pay $3.3 trillion in federal taxes and $1.6 trillion in state and local taxes, for a total bill of almost $5.0 trillion, or 31 percent of the nation’s income.
- Tax Freedom Day is one day earlier than last year, due mainly to the Protecting America from Tax Hikes Act of 2015, which made several business and individual tax cuts permanent.
- If you include annual federal borrowing, which represents future taxes owed, Tax Freedom Day would occur 16 days later on May 10.”
If you want to know why Americans are angry — and not the acolytes of progressive socialism – it’s because they’re paying more to government, struggling to make ends meet, and having to hear about folks getting . . . Read More
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