Tax Freedom Day Comes on April 11 in 2004, Earliest Since 1967
- Thread starter charrison
- Start date
When would paying for the goverment day occur. You know the day that all income would equal the amount the goverment spent?
This probably will not happen because most people are only concerned with the rights of the individual, not the rights of the goverment.
No instead of comparing taxes like your article when would the same be true for goverment speending.
I'm not talking about collecting the tax. Just how long would americans have to work to fund the goverment?
XZeroII
Lifer
- Jun 30, 2001
- 12,572
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Sooner than you think. Consider, this is the 102nd day of the year. There are 366 days this year. This is about 28% of the year. Thus, the government takes about 28% of the average person's income. Now factor in the fact that you have other taxes and fees to pay. Lets say 6% sales tax. If you spend 100% of what you make, you are giving the gov't another 6% of your income. Now it's up to 34%. Vechile registration, fishing licence, pet licence, etc... Lets raise that to 35%. So the average person pays a bit over 1/3 of the money they make to our gov't.
Make me sick thinking about it. If you make $30,000 per year, you are spending about $10,000 just to live in the US per year. Is anything else in this world so expensive?
There are not enough people that care if the goverment is fully funded, people are more concerned with their financed than the goverments.
Personally, I think it is the best bargain on the planet. Shop around a little, and I'm sure you will agree.
Nevermind that tax freedom day would occur a lot earlier if we weren't paying $320B+ in interest for past borrowing... Thanks to the "spend and don't tax" repub policy of deception.
And, Yeh, nice dodge of the question posed by Spencer278. It's really quite pertinent, and reflects the fact that somebody, sometime will have to work extra to pay interest on the amount borrowed, and maybe even to repay part of the said debt...
Be careful, Spencer278, you're attempting to think like a responsible adult, to assess reality rather than merely fall into line behind the dittoheads...
And, Yeh, nice dodge of the question posed by Spencer278. It's really quite pertinent, and reflects the fact that somebody, sometime will have to work extra to pay interest on the amount borrowed, and maybe even to repay part of the said debt...
Be careful, Spencer278, you're attempting to think like a responsible adult, to assess reality rather than merely fall into line behind the dittoheads...
XZeroII
Lifer
- Jun 30, 2001
- 12,572
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Because I'm not paying as much. Hey, if you want to pay more, go right ahead. I won't complain.
Are you saying that it is bad news that people are paying less of their hard earned money to the government? How much would make you happy? 50%? 75%? Maybe I should just hand over every cent I make to them and we'll all enjoy the benefits of communism.
Maybe we shouldn't pay anything. We could have tax-free day be Jan. 1st. Ideally the goverment should collect in taxes the amount of money it spent that is not on long term items and the precentage of long term expenditers.
- Oct 9, 1999
- 46,936
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Yes.
With the federal deficit approaching 500 billion dollars a year, YES!!
But, hey, folks, you, too can play at home. Don't pay your utility bills. You'll have more of your "hard earned dollars" to spend. Better celebrate that "great news" fast, though.
The goverment should pay for any expenses that are not long term invemenst in the current year. Big purchases should have bonds that corrospond to the life of the project.
Lets use a house as an example it is ok to spread paying for a house out over 30 years but it is not ok to spread the payment out of pizza over 30 years.
XZeroII
Lifer
- Jun 30, 2001
- 12,572
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Originally posted by: Perknose
Yes.
With the federal deficit approaching 500 billion dollars a year, YES!!
But, hey, folks, you, too can play at home. Don't pay your utility bills. You'll have more of your "hard earned dollars" to spend. Better celebrate that "great news" fast, though.
Why not just hand then your bank account numbers right away. So they spend spend spend and you are more than happy to write a check? They are wiping their a** with silk, and you are right there to whip out your checkbook. "yes sir! May I suggest the solid gold faucets?" No problem! You must be loaded to want to give your money away like that.
Originally posted by: Perknose
Yes.
With the federal deficit approaching 500 billion dollars a year, YES!!
But, hey, folks, you, too can play at home. Don't pay your utility bills. You'll have more of your "hard earned dollars" to spend. Better celebrate that "great news" fast, though.
While 500B is a large number, it is by no means a record setter when indexed to inflation.
Originally posted by: charrison
Originally posted by: Perknose
Yes.
With the federal deficit approaching 500 billion dollars a year, YES!!
But, hey, folks, you, too can play at home. Don't pay your utility bills. You'll have more of your "hard earned dollars" to spend. Better celebrate that "great news" fast, though.
While 500B is a large number, it is by no means a record setter when indexed to inflation.
But it's the highest since Clinton's 2nd fiscal budget (when he was working to reduce the huge deficit left by Bush, Sr.
Then you have to go back to Reagan's 1986 budget to find it again higher.
The Republicans have been the ones to run up the deficit for the last few decads.
Originally posted by: conjur
Originally posted by: charrison
Originally posted by: Perknose
Yes.
With the federal deficit approaching 500 billion dollars a year, YES!!
But, hey, folks, you, too can play at home. Don't pay your utility bills. You'll have more of your "hard earned dollars" to spend. Better celebrate that "great news" fast, though.
While 500B is a large number, it is by no means a record setter when indexed to inflation.
But it's the highest since Clinton's 2nd fiscal budget (when he was working to reduce the huge deficit left by Bush, Sr.
Then you have to go back to Reagan's 1986 budget to find it again higher.
The Republicans have been the ones to run up the deficit for the last few decads.
Actually adjusted for inflation, Clintons first budget defecit was larger than this one. This defecit was not doubt was worsened by weak tax rolls at the time. And it is also worth mentioned that democrats controlled the congress at the time of this budget. Those are the facts.
My taxes have gone up overall. Republicans all around me here in Ohio.
Local and State tax and fees are up.
Property taxes are WAY up.
Damn Bush's tax cut for the wealthy. :|
Local and State tax and fees are up.
Property taxes are WAY up.
Damn Bush's tax cut for the wealthy. :|
Of course the reduction in taxes collected could also be attributed to a larger number of people being out of work and surviving on unemployment benefits.
Frankly though, their calculations sound a lot like BS to me. My wife and I paid something like $3000 out in taxes this year to the federal government, which is less than one month of income for us. Even if state and local taxes came out to be equal to the federal taxes (which they don't usually), we'd have all of our tax burden taken care of by the beginning of March. And we are in the mid-to-high $40,000 income range, which is where you typically start to get nailed the worst tax-wise. The poorer get most it back and the wealthier ususally have more loopholes and tax shelters available to them, so those of us in the middle classs usually get hit with the biggest percentage of our income going to taxes. (And if you doubt the assertion that the wealthy skip out on a lot of their tax burden, check out "Perfectly Legal" by David Cay Johnston).
This sounds like a lot more propaganda to try to convince people their taxes are too high by using a lot of dubious math, while never mentioning fun facts like the one I read last week where the Congressional GAO announced that in the late 90's 63% of corporations paid no tax and 94% reported taxes of less than 5% of their income (a lot less than I paid).
Link to story
And this was during the Clinton Era when there was a surplus, supposedly because taxes were "too high" and were getting in the way of economic growth. I shudder to think how low the tax burdens on businesses are now.
Frankly though, their calculations sound a lot like BS to me. My wife and I paid something like $3000 out in taxes this year to the federal government, which is less than one month of income for us. Even if state and local taxes came out to be equal to the federal taxes (which they don't usually), we'd have all of our tax burden taken care of by the beginning of March. And we are in the mid-to-high $40,000 income range, which is where you typically start to get nailed the worst tax-wise. The poorer get most it back and the wealthier ususally have more loopholes and tax shelters available to them, so those of us in the middle classs usually get hit with the biggest percentage of our income going to taxes. (And if you doubt the assertion that the wealthy skip out on a lot of their tax burden, check out "Perfectly Legal" by David Cay Johnston).
This sounds like a lot more propaganda to try to convince people their taxes are too high by using a lot of dubious math, while never mentioning fun facts like the one I read last week where the Congressional GAO announced that in the late 90's 63% of corporations paid no tax and 94% reported taxes of less than 5% of their income (a lot less than I paid).
Link to story
And this was during the Clinton Era when there was a surplus, supposedly because taxes were "too high" and were getting in the way of economic growth. I shudder to think how low the tax burdens on businesses are now.
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