‘No Matter How Much They Take, It’s NEVRR ENOUGH’. This is a theme that’s proven to be relevant time and time again. True, there has been some significant reduction in the Federal Income Tax rates, which is commendable. However, the ‘Overall’ picture of taxation levied upon the people is very burdensome. It’s all the ‘Tax Layering’ above and beyond the income tax rates, that truly compounds the burden and captures our ‘Labor Energy’.
Those that pay close attention to the amount of taxes collected document over and over that the taxing authorities are collecting ‘Record’ taxes again and again. Yet the national debt is ballooning at the pace of $2 Million Dollars a minute (every minute) as previously documented (Cllick Here). Is it any wonder that the homeless populations in the major metros are exploding, while we read in the headlines that the economy is ‘booming back to life’. There is a whole lot of pent up energy in the population waiting to rally behind the ’cause de jour’, it’s about time all of the ‘mis-informed’, and ‘mis-directed’ start to wake up and focus on the subject of Tax Layering to reduce the more than 200+ individual categories of taxation levied upon us.
In a recent article by Terence P. Jeffrey titled “State and Local Income, Sales and Property Taxes All Hit Records in 2017”, this topic is articulated. Here are some quotes from his article;
“Real state and local income, sales and property taxes all hit records in 2017, according to data released this week by the Census Bureau. State and local governments collected a record $404,509,000,000 in individual income taxes in 2017, according to the Census Bureau. Before 2017, the greatest level of individual income tax revenues collected by state and local governments occurred in 2015, when those governments collected $399,933,270,000 in individual income taxes (in constant 2017 dollars converted using the Bureau of Labor Statistics inflation calculator)”
“State and local governments also collected a record $386,153,000,000 in general sales and gross receipts taxes in 2017. Prior to that, the largest state and local general sales and gross receipt tax collections took place in 2015, when state and local governments collected $385,904,260,000 in those taxes (in constant 2017 dollars)”
“At the same time, state and local governments collected a record $573,064,000,000 in property taxes in 2017. Before 2017, the largest property tax collections took place in 2016, when state and local governments collected $551,936,350,000 in property taxes (in constant 2017 dollars)”
You would think with these kind of tax collections, that the need for racking up the National Debt at th pace of $2 Million per minute, would not be necessary. Heaven Help Us All!
To Read The Entire Article by Terence P. Jeffrey (CLICK HERE)