The 16th Amendment when passed by congress in 1913, allowed the Federal Govt. to take a piece of each citizen’s paycheck for the very first time in our nation’s history. According to the Tax Foundation, the tax rate (adjusted for inflation) for citizens with income up to $463,826 was only 1.0%. And the rate for citizens with income over $11.5 million was only 7.0%.
1913 was not the best year for the American citizens (for multiple reasons).
The articulately written article by Veronique de Rugy points out the obvious:
“Oh, how things have changed”.
Understandably there is considerable anxiety associated with filing our taxes, there is much fear, and anxiety involved in #incometaxfiling and #stress along the way. And no wonder, we’ve gone from the original very simple formula to the current monstrosity of more than a 76,000 page tax code. The complex code is cover for the Corp. Oligarchs to use to minimize their tax liability, while the average Joe can’t understand the road map, and remains ‘exposed’ no cover, no place to hide.
In her article Ms De Rugy points out; “According to the IRS, filing an income tax return will take each taxpayer an average of 8 hours and cost $120 per non-business return. As Joshua Caherty at the Tax Foundation explained, the cumulative compliance cost of filing all those individual tax returns in 2012 was over $20 billion. “The time consumption is further burdensome,” he said. “Considering 8 hours each…Americans spent over 1.35 billion hours filing individual taxes.” And that cost gets much higher if you add in the distortions created by the income tax, like when people decide to buy a home rather than rent solely to get a tax break”.
This article is very informative, but it does not cover or address the whole picture of all the compounded “Tax Layering”, and taxes disgused with other names (fees, permits, etc.) that our music video “Tax Slave” underscores (WATCH HERE).
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