Americans as a whole will
spend more on taxes in 2016 than they will on food, clothing and housing combined. U.S. citizens will cough up
$3.3 trillion in federal taxes and $1.6 trillion in state and local taxes in
2016, and that nearly $5 trillion total is equivalent to 31 percent of the
nation’s cumulative income.
Moreover, if annual federal borrowing (representing
future taxes owed) is included, Tax Freedom Day (the first day of the year on
which your income would start going to you rather than the government) would be
May 10th.
The United States didn’t
have a permanent federal income tax until 1913, 137 years into its existence, and yet it grew into the world’s most
powerful nation in precisely this time frame. The federal government has no
business taxing the living hell out of its constituents- or their businesses.
Incredibly, the U.S. has the highest corporate income tax rate in the
industrialized world. The United States!
Earlier citizens of the Land of the (formerly) Free and
the Home of the (formerly) Brave would simply not have tolerated the excessive,
punitive and onerous taxation and regulation to which modern day Americans
blindly acquiesce.
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