In theme with Soles Of Passion’s release of ‘Tax Slave’ this story by Kirt Nimmo is particularly appropriate. The focus of the article is that Americans pay “More In Taxes Than Food, Clothing and Housing Combined” OMG could this be true you say? Or is the writer simply grandstanding and being sensational to get attention in the moment.
Sadly, there is no grandstanding about this situation. “Tax Freedom Day” this year is April 24th according to the Tax Foundation. In other words, if the average American’s total labor effort from January 1st to April 24th is given to the government 100%, they will then be even with this year’s average individual tax burden. However, this does not include all of the other ‘tax layering’ that goes on 24-7/365. Taxes built into the products we consume, and the other forms of taxation deceptively called; ‘licenses, fees, permits, tolls, penalties, mandated flood zone expansions, and metering” etc. Not to mention ‘inflation’ (the hidden tax).
In fact what most people (and writers for that matter) don’t focus on, is the total combined picture. The ‘Layers’ of Taxation we are all subjected to (at least those of us included in the 99% that live in Jurisdiction B and cannot afford offshore asset structures). They mostly focus on the Federal Income Tax Rates based on the IRS’s progressive tax system. You can adjust those rates a bit this way, a bit that way for pure political reasons, and the levels of actual ‘tax layering’ combined won’t really be changed that much even though the politicians can claim their schemes “made a difference”. But, hey we’ll take whatever relief from the tax layering we can get right! Here are some direct quotes from Mr. Nimmo’s article which is a great read, that includes both historical and current perspective on the subject of taxation;
“The Tax Foundation has released a report ahead of the annual federal income tax deadline next week and the results are startling.
In total Americans will fork over $3.3 trillion to the federal government this year. When state and local taxes are added to this figure, the amount is nearly $5.0 trillion, or more than a third of the nation’s income.
Remarkably, the average American will pay more in taxes than he or she spends on food, clothing and housing combined.
According to the report, it now takes 46 days for Americans to pay federal, state, and local individual income taxes. The tax imposed on payrolls adds 26 days and sales and excise taxes 15 days. Property taxes add 11 days on average and corporate income taxes nine days. The figure is rounded out by inheritance taxes, customs duties, and other taxes that require an additional seven days to pay”, (the Tax Foundation’s own website shows April 24th as the day, so some confusion in here about the timing of this moment).
“Taxation-is-theft. Prior to the War of 1812 Americans paid taxes on distilled spirits, carriages, refined sugar, tobacco and snuff, property sold at auction, and corporate bonds. During the war the government imposed a sales tax on gold, silverware, jewelry and watches”
How far we’ve come from those days. “Governments steal money and call it taxes” Lew Rockwell
To Read the entire article” CLICK HERE.