Showing posts with label Taxes. Show all posts
Showing posts with label Taxes. Show all posts

Monday, October 4, 2021

DEMOCRATS…TAXES FOR THEE, BUT NOT FOR ME???


According to a recent report the junior Senator from Illinois, Tammy Duckworth, hasn’t paid any property taxes on her Illinois home since 2015. Duckworth’s tax evasion, though, is legal. The senator apparently found a number of loopholes and tax exemptions that lowered her rate effectively to zero in property taxes. And apparently Democrats, like Duckworth, feel that they, and they alone, should be the ones able to take advantage of such loopholes while at the same time feeling free to accuse those like Donald Trump of trying to avoid paying their “fair share” for doing the exact same thing, trying to reduce the amount that one owes the government.

One of the tax breaks that the 53-year-old Duckworth employs concerns her status as a disabled veteran. Unlike many other states, the Illinois rules are not income-based. Any disabled veteran qualifies for the tax break, no matter how wealthy they may be. The Chicago Sun-Times reports that critics of the many exemptions say that the rules are applied far too liberally. They add that too many people whose incomes do not justify tax breaks are still able to qualify to receive them. But then, we are talking about Illinois, a state that is among the most corrupt in this entire country. After all, it’s a state represented in the Senate by Duckworth and ‘Little Dick’ Durbin.

Due to the veteran exemption, and other exemptions as well, it’s been since 2015 that Duckworth, and her husband, have avoided having to pay $42,000 in property taxes. Their house is valued at $225,000, and the senator alone earned nearly $500,000 in each of 2019 and 2020. And it’s her entitlement, as a wounded veteran, that I have no issue with. After all Duckworth was injured in service to the country during her stint while piloting a helicopter for the Illinois Army National Guard in Iraq in 2004. Due to her status, she is one of more than 2,000 Cook County residents who are excused from paying a total of $102.8 million in property taxes.

The Sun-Times reported that Laurence Msall, president of Chicago tax watchdog group the Civic Federation, is one critic that feels the rules need to be tightened. Msall said, “What we have done is to create all special sorts of categories – veterans, disabled people, senior citizens – and all of those exemptions administered by the county basically undermine the integrity of the property tax system.” He added, “We grant people relief regardless of their income situation, and the rest of the community has to pay more. It’s unfair, it’s very hard to monitor, and it’s hard to authenticate who’s getting the value. Is it the needy people, or is it a giveaway?”

And I’m sure no one would be surprised to hear that Duckworth refused to comment when the Times contacted her to comment on the story. However, through a spokesman, Duckworth said she “has always believed that everyone should pay their fair share in taxes and that those who served this nation in uniform deserve and should claim the benefits they earned.”  Whenever a Democrat says, “fair share,” what they really mean is ‘everyone but them.’  While hard-working middle class folks in Illinois struggle to pay their property taxes, U.S. Senator Tammy Duckworth pays nothing. Liberals love spending money, just not their own money.

So why is it that anyone is surprised by this? Masks for thee, but not for me. Taxes for thee, but not for me. Social distancing for thee, but not for me. And on and on. This is the way these politicians act, people could not get their haircut, but Pelosi could. Most people could not go to church, but Chuckie Schumer could go to a Central Park concert. If you want an abortion, no one can tell you what to do with your body. But if you do not want the ‘vaccination,’ you’re stupid and are the cause for the vaccinated getting sick. These people are mentally sick in the head. How else can you explain that the unvaccinated are causing the ‘vaccinated’ to get sick and die.

Now keep in mind that Duckworth is just one of many rabid Democrats who whined on and on and accused President Trump of not paying what he owed in taxes because he too took legal tax write offs and deductions. They’re still demanding to see his tax returns. Perhaps we need to see theirs! As a U.S. senator she gets more benefits in her job then all of us receive. She’s a U.S. senator with the power to vote on the taxes of every citizen in this country, not just those in Illinois. If she wants to take advantage of these tax benefits then perhaps she should resign from the Senate return to Illinois and become a regular citizen. But don’t count on that happening.

The fact she lectures others on paying their “fair share” while she banks $4,527 each year while making $174,000 as a member of Congress and another $300,000 doing who knows what, is why YOU should care. And again, the issue here is not she takes a tax break that’s available, it’s that she attacks others for doing the very same thing. Veteran or no, this is hypocrisy in action and it’s outrageous, especially from someone who should have some self-awareness as a supposed leader. How many veterans has she helped with her policies? What charities or causes she has donated any of her ill-gotten gain, as a member of Congress, to support other wounded veterans?

Does that make her a bad person? No, but it doesn’t make her into some veteran’s heroine either, or at least it shouldn’t. She is a Democrat, which in turn makes her an anti-American, as well as a fraud, a crook and, most of all, a liar! What has she done for disabled veterans? Probably about as much as John ‘The Maverick’ McCain did for Vietnam veterans suffering from Agent Orange exposure, which is nothing. It’s the hypocrisy and double standards that should bother us. Wounded veteran or not, this woman should be viewed as an embarrassment to every citizen of the state of Illinois. But that’s likely not the case, which, in the big scheme of things, is really kind of sad.

Friday, December 22, 2017

DEMOCRAT CHRIS VAN HOLLEN HAS A RATHER PECULIAR TAKE ON THE TAX CUT BILL…


When trying to decide who it is, exactly, that’s the biggest empty-headed twit within the Democrat Party it has become increasingly more difficult, of late, to identify just who that might be.  But two of the leading contenders now vying for the honor would have to be that dimwit from California, Adam Schiff, in the House, who apparently thinks a Russian was hiding behind every voting booth and forcing folks to vote for Trump, and his intellectual equal over in the Senate, Chris Van Hollen from Maryland.  

On Thursday’s broadcast of MSNBC’s “Morning Joe,” it was this boob Van Hollen who actually tried to make the argument that companies announcing they’ll give out bonuses, hire more folks, and invest more after the passage of the Republican tax bill, are doing so as, now get this, “a PR stunt.”  A PR stunt?  Just how much of a rabid ideologue, and leftwing kook, must one be in order to come to such a blatantly political conclusion as that?  Van Hollen said, “I think they are doing it as a PR stunt.”

And he went on to say, “These are some one-time bonuses, sounds very nice, but that was not what was promised. What was promised was a $4,000-a-year pay increase into the base. And that is why you see union members going to these corporations and saying, ‘Look, thanks for the one-time bonus, but that is not what was promised as part of this tax cut.’ So, at the same time, you see those one-time bonuses, in the last couple weeks, you’ve seen reported $87 billion in stock buybacks.”

And then this hapless boob added, “So, that’s money going to the shareholders. And I want to remind people that 35% of those stockholders are foreign stockholders. And so, in the year 2019, $48 billion is going to go into the pockets of foreign stockholders, coming out of the pockets of millions of middle class taxpayers.”  I think what really has this guy’s panties in a wad is the fact the Democrats have been proven to be frauds when it comes to their claim of caring for working class Americans.

Because let’s face it, Barry and Hitlery surrounded themselves with so many corporate donors that it was difficult at times to determine who was actually running things. If anything, Barry was giving tax breaks to himself and to his inner circle.  And don't even get me started on that 2% annual GDP growth under Barry.  Moreover, any tax cuts made under Barry were completely wasted by the ridiculous premiums that he was requiring everyone to pay for under his health insurance scam.

And since President Trump’s arrival on the scene we have had 3% annual GDP growth for three consecutive quarters, we now have more Americans in the workforce than ever before and the stock market gained 5000 points in a single year for the first time in history.  Also, we heard earlier this week how several large corporations have announced expansion plans here at home and are also now giving out bonuses to their employees all thanks to the recently passed Republican tax plan.

And a $220 Million dollar PR stunt going into the pockets of their employees is one Hell of a good publicity stunt that I’m sure their employees will appreciate.  What this classless moron seems not want to talk about is the reinvestment in facilities that companies are discussing and the wage increases they are promising.  Also if a company buys back its stock from foreign investors, what it means is that more future dividends will tend to go to stockholders who are Americans rather than overseas.

Anyway, what Van Hollen insists upon spreading here is nothing more than your typical Democrat talking points the purpose of which is to exaggerate any negatives while ignoring completely all of the positives.  And it's a lack of business acumen possessed by those on the left, and their willingness to lie about almost anything, that inhibits their understanding.  I mean what we have here is a cadre of career politicians pretending to know all that is required to run a successful business.

And what he fails to note, or chooses to ignore, is that Americans own a full 75% of all the stock listed on ALL stock exchanges throughout the world. A huge amount of stock is owned by pension funds and they prosper when the stock market goes up--which it does when companies get to keep more of the money they’ve earned. And that helps all those millions of ordinary boomers who are getting ready to retire.  So either he’s lying, or he needs to go back to school and take a course in basic economics.

And what’s really sad here is that for decades the Democrats have claimed to be the defender of working class Americans and yet it’s Democrats, like this jerk Van Hollen, who absolutely cannot stand the fact that the American worker is finally going to have a little more cash in his/her pocket next year and beyond.  And it’s not because of anything the Democrats did, but what they actually tried very hard to keep from happening.  And whether they pay a price for that is yet to be determined.

Thursday, December 21, 2017

LATEST DEMOCRAT SLOGAN FOR 2018: “A VOTE FOR DEMOCRATS IS A VOTE FOR HIGHER TAXES”…


I would argue that it is nowhere on the entire planet that you could find a bigger, more determined, and more dedicated bunch of liars than those politicians who operate under the banner of the Democrat Party and who continue to run roughshod over a segment of our population whose IQ, when added all together, would result in a collective IQ somewhere in the very lowest of single digits.  That segment of the population who likes to so very proudly refer to themselves as Democrats.  You know, you’ve seen them.  They would be the ones with the idiotic little bumper-sticker, on whatever rolling piece of shit they happen to drive, that says, “Proud Democrat.”  

And so it was then that shortly before the Senate passed the new tax cut bill 51-48, that we were witness to what was little more than an act of pure dishonesty when we heard from one of the more devoted leftists in his party as he made what was a rather bold prediction.  You see, it was Sen. Chris Murphy, Democrat, who, in trying to pull off his best Nostradamus impersonation, actually predicted that Republicans “will probably lose the House and the Senate” in 2018 because of the Republican tax reform bill, and Murphy also said that “absolutely” the Democrats will try to overturn the tax legislation if they do regain control of Congress after the midterm elections.

It was one of MSNBC's many resident Trump haters, Rachel Maddow, who asked Murphy this past Tuesday night, “If your prediction is right and Democrats do take the House and Senate after the midterm elections, do you think that Democrats would try to overturn this bill?"  To which Murphy replied, “Absolutely!”  Murphy then went on to say, “We have to, given the assault that's occurring here, especially on the East and the West Coast. I would hope that we would take a look at the entirety of the bill. Listen, the corporations in my state, they wanted a corporate tax cut, but none of them were expecting to have the corporate tax rate dropped to 20 percent.”

Murphy said, “They would have been thrilled if they got the tax rate below 30 percent. And so there is plenty of room to go back into this bill to make up some money and return it to the middle class or the working class that's losing out here.  And went on to say, “And of course what we haven't talked about is the repeal of the individual mandate which is going to increase everybody's premiums by 10 percent, compounding every year. So that conveniently in year seven of this bill, your premiums will have doubled and your standard deduction will have gone back to its previous levels.”  The same sort of gibberish we always hear from those on the left.

Naturally the Republicans disagree with Murphy’s blatantly ideological assessment of the new tax bill saying that it most certainly will deliver tax cuts to the middle class, and low-income people may end up paying no tax at all.  And some higher-income earners in high-tax states who normally itemize deductions may end up paying more.  And really, I think it says far more about the Democrats than it does the Republicans in that not one Democrat was willing to vote for this bill.  Democrats want to do nothing that either makes or current president look good, or that might result in bringing our economy back to life after eight years of having a Democrat president.

And it was while speaking on ABC's "Good Morning America" Wednesday morning, House Speaker Paul Ryan said skeptics have been “hit on their TV screens” by confusing media coverage saying that the tax bill will benefit only the rich.  Ryan said, “So I think when people actually see that instead of getting tax increases, they're getting tax cuts; when they see the withholding tables changing in February and seeing more money in their paychecks; when they're seeing the economic growth that will result from historic tax reform, I think minds are going to change, and I think people are going to change their view on this.”

If there is a change of who’s in charge of Congress next year, I disagree that this tax bill will be what brings it about.  But that’s not to say that I am confident that come January 2019 it will be the Republicans who will still be running things.  Because if the Republicans do come to lose control of Congress next year it will be because they decided to push forward in their quest for amnesty for those in this country illegally.  That’s why they could lose.  Meanwhile Murphy can make all the noise he wants to about overturning the recent tax cuts, because President Trump, who will be in office through 2020 would still have to sign it.  And I just don't see him doing that.

Murphy is nothing if not proof that the Democrats still refuse to admit that the tax revenue acquired by the government is OUR revenue.  And it is not theirs to spend however they please.  We the people earn that money by WORKING very hard for it.  Despite all of this moron’s claims, the tax reform bill WILL come to benefit working class Americans when the economy booms as expected (and it will).  And when that happens the chances of Democrats winning much of anything will decrease.  I look forward to seeing their pitiful expressions the day after the mid-terms. The same expressions we saw from them when President Trump was declared the winner.

And while many on the left persist in making the claim that our current “booming economy” began in June 2009 during the Obummer era, that’s hardly the case.  And it only serves to make all the more clear the alternate universe that they must be living in.  How else could they be talking about an eight year stretch of time during which growth in the Gross Domestic Product never got over 2% as a “booming economy?”  Or the eight year period during which the labor force participation rate stayed at its lowest level since the Great Depression?  Or maybe the eight year period in which the Dow grew at only 3.6% per year?  Booming?  Hardly!  It was considered anemic at best.

And all of the endless doom and gloom, heard from Democrats like Murphy, regarding the new tax bill is already being proven to be nothing more than wishful thinking on the part of those very same Democrats.  We’ve already begun to witness the effects that it will have on our economy, it’s going to take off.  And when people start to see some extra money in their pay check, they will be blown away.  And that’s really what has the Democrats terrified.  They are always on the wrong side of tax reform because it peels away at their power.  Let’s face it, there has never been a Democrat who didn't get some level of enjoyment out of spending other people’s money.

Lastly, it is becoming very clear that the Democrats now think that a very large segment of Americans are pretty stupid and actually enjoy paying taxes that are too high.  And since there is nothing that prevents one from paying more in taxes if they wish to, why is it that Democrats, or anyone on the left, never seems willing to do that?  Democrats keep working against those things that would bolster this country and its citizens out of pure hatred of our President.  People with any sense see what's happening, the sham that Democrats are ‘working for their constituents’ has been exposed and could very well come back to bite them in their rather sizable butts.

Wednesday, December 20, 2017

ALL THAT CRAP ABOUT PAYING ONE’S FAIR SHARE IS JUST THAT, CRAP!!!


When it comes to the topic of income taxes, we’re always hearing from the Democrats about the importance of everyone paying their “fair share.”  But rarely do we ever hear anyone, Democrat or Republican, explain exactly what one’s fair share might be.  But I have a very hard time believing that ANYONE’S fair share should be zero.  And yet, of the 150,493,263 filers who submitted individual income tax returns to the Internal Revenue Service for the 2015 tax year, only 99,040,729 paid any income tax at all.  So it would seem that some folks’ share is more ‘fair’ than others.

And together those Americans paid a record $1,457,891,441,000 in total income taxes, for an average of $14,720 per taxpayer.  The other 51,452,534, or about 34 percent of all filers, did not pay a penny.  Their average income tax payment was $0.  This is a fundamental divide in the American tax system.  On one side are those who do pay taxes; on the other, those who don't.  But the divide gets worse because there were 30,417,609 filers who while they did not pay any income taxes they still managed to receive $89,614,869,000 in cash back from the federal government.

In other words, those folks essentially received $89,614,869,000 in ‘free’ money.  We know this because the IRS tells us so.  The IRS calls this nearly $90 Billion in cash that the federal government paid to tax-return filers who paid no taxes the “refundable portion” of “refundable credits.”  They explained it in their report on the individual income taxes it collected for 2015 that, “Refundable credits were broken out into three parts: the portion used to offset income tax before credits, the portion used to offset all other taxes, and the refundable portion.”  Typical IRS mumbo-jumbo.

This IRS report said, “In total, taxpayers claimed $105.3 billion in refundable tax credits.” Adding, “Of this, $5.7 billion was applied against income taxes and $10.0 billion against all other taxes. The remaining $89.6 billion in refundable credits was refunded to taxpayers.”  That is to say it was “refunded” to “taxpayers” who paid no income taxes.  And this was not a boon for the “rich.”  According to data published in the report, 27,786,931, or about 91 percent, of the 30,417,609 tax-return filers who did get a “refundable portion” had an adjusted gross income of less than $40,000.  

So who was it that actually ended up paying the taxes the federal government needed in order to send that $89,614,669,000 to those 30,417,609 who paid no income tax at all?  One major contributor was a group that the IRS refers to as “married persons filing jointly.”  In 2015, again according to the IRS report, 54,294,820 belonged to this group, with 41,551,043 joining the side who did pay taxes, and 12,743,777 joining the side who did not.  Thus, while 34 percent of all filers paid no income taxes, only 24 percent of married couples filing jointly paid no income taxes. 

The 41,551,043 married couples filing jointly who did pay income taxes accounted for only 28 percent of all 150,493,263 filers.  But they made up about 42 percent of the 99,040,729 filers who did pay income taxes.  More tellingly, of the record $1,457,891,441,000 in total income taxes the IRS collected for tax year 2015, married couples filing jointly paid $1,040,684,097,000 of it, or about 71 percent.  So, married couples filing jointly constituted only 42 percent of filers who actually paid income taxes, but they paid 71 percent of the income taxes.

These 41,551,043 taxpaying married couples paid an average of about $25,046 in federal income taxes in 2015.  Now, some may say: But there are two people in a married couple who file jointly; of course they should pay more taxes than a single person.  But did single people filing tax returns pay half as much as married couples? The IRS says 71,086,947 single persons filed tax returns in 2015.  Of these, 23,345,062, or 33 percent, paid no income tax.  The 47,741,885 who did, paid $326,342,729,000.  That’s an average of about $6,836 per taxpaying single person. 

At that rate, it would take 3.66 taxpaying singles to surrender to the federal government the same income tax as one taxpaying married couple.  The bottom line here is that the federal government is financially dependent on income tax-paying married couples who jointly file their tax returns, and it has made 30,417,609 filers who pay no income taxes dependent on government by handing them $89,614,669,000 in a single year.  It’s very little that seems to be all that fair about this arrangement, but that said there seems to be no one the least bit interested in changing it.

And unfortunately, the recently passed tax bill does nothing to correct any of this.  It still pays $1400 refunds to the many welfare loafers who don’t pay any taxes, because they don't work and don't own any house/land so they don't pay any property taxes, which support the schools who feed their fatherless kids with free government cheese and hands them the latest laptop on which to play computer games, while they watch cable TV in their taxpayer funded apartments.  And mommy is still allowed to vote for the politician who promises her the most ‘free’ stuff because she's ‘entitled.’

So work harder all you married, responsible people, the ‘poor’ are depending on you to give them all they have and never worked for.  But hey, it would seem that that is what has now become the new normal.  After all, why would any of those who have grown rather accustomed to their free ride EVER vote for anyone who talked about having them actually pay their fair share instead of mooching off the rest of us.  Plus the Democrats now have folks thoroughly convinced that they are entitled to their free ride because they are somehow to be considered as victims of an unfair society.    

And lastly, it was shortly before the Senate passed the new tax bill 51-48, that we heard from one of the nuttier leftwing kooks in the Senate, on the Democrat side, Chris Murphy, who made the claim that the Republicans “will probably lose the House and the Senate” in 2018 because of the Republican tax reform bill.  And Murphy said “absolutely,” Democrats will try to overturn the tax legislation if they do regain control of Congress in the midterm elections.  So as far as I’m concerned that’s but one more reason on an already very long list of many why not to vote Democrat!

Thursday, April 7, 2016

YOU’LL BE GLAD TO KNOW THAT YOU NOW WORK UNTIL MAY FOR FREE!!!


For all of you, excluding, of course, those who comprise society’s parasites and therefore seem to be so downright eager to vote for Hitlery, or worse for Bernie, who work and pay taxes, you might be interested to know that this year Americans will collectively give more money to the government in form of taxes than they will spend on food, clothing, and housing combined, that according to a new report from the Tax Foundation.  But then I suppose if you’re one of those in the 49 percent of Americans who pay absolutely zero in taxes, which is what, apparently, has been deemed to be your fair share, that probably matters very little, if at all, to you. 

But as someone who is, year after year, made to write the government a check for what has become an ever-increasing amount, I can tell you I do care, I care a great deal!  So, according to the above mentioned report 31 percent of the nation’s income will go to taxes — $3.3 trillion in federal taxes and $1.6 trillion in state and local taxes. In a demonstration of just how much money Americans will spend on taxes this year, the Tax Foundation has calculated that not only will the bill to Uncle Sam be more than most personal expenses, it will take the nation, as a whole, until April 24 to earn enough to cover the cost.

The group has identified April 24 as being “Tax Freedom Day.”  A statement released by the group said: “Tax Freedom Day gives us a vivid representation of how much federal, state, and local tax revenue is collected each year to pay for government goods and services.”  And it went on to say, “Arguments can be made that the tax bill is too high or too low, but in order to have an honest discussion, it’s important for taxpayers to understand the cost of government. Tax Freedom Day helps people relate to that cost.”  Again this is likely to be of little or no interest to those whose only goal in life is to become the best parasite they can be.

While the national “Tax Freedom Day” is April 24, the variance among state’s tax burdens mean people living in different states have different “Tax Freedom Days.”  And it according to the Tax Foundation that, Mississippi (April 5), Tennessee (April 6), and Louisiana (April 7) have the earliest “Tax Freedom Days” while New York (May 11), New Jersey (May 12), and Connecticut (May 21) will have the latest.  When factoring in federal borrowing, the Tax Foundation says, Tax Freedom Day would fall 16 days later on May 10.  So, how’s it feel to know that you’re working for 4 1/3 months for free?

The report's key findings include:
— Collectively, Americans will spend more on taxes in 2016 than they will on food, clothing, and housing combined.
— Americans will pay $3.3 trillion in federal taxes and $1.6 trillion in state and local taxes, for a total bill of almost $5.0 trillion, or 31 percent of the nation's income.
— Tax Freedom Day is one day earlier than last year, due mainly to the Protecting America from Tax Hikes Act of 2015, which made several business and individual tax cuts permanent.
 — If you include annual federal borrowing, which represents future taxes owed, Tax Freedom Day would occur 16 days later on May 10.

It’s sad, but Americans no longer look at things from a one for all and all for one perspective like it once was.  Which I think goes a long way in helping to explain where it is that we find ourselves today and why.  We’ve allowed our politicians, politicians that are for the most part on the left, to divide us into smaller, much more manageable groups, politically speaking, which then enables them to better control us by encouraging us to fight amongst ourselves while they rob us blind right under our collective nose.  And we allow them to do it!  In the words of one Obi-Wan Kenobi: “Who’s the more foolish, the fool or the fool who follows him?”

And stop and consider for a moment what you would be able to do to improve your life if you were only able to keep some of that money. Maybe buy a new car, go out to dinner more often, maybe even go on trip, all of which would require the spending of money on things that would actually strengthen our economy much more so than the idiotic policies that have been dreamt up and put into place by our idiotic president and the idiotic members of his idiotic political party.  But they’re not the only ones to blame, we elected this president, not once but twice.  So once again Obi-Wan’s question becomes quite relevant. 

Saturday, April 13, 2013

FOR THE FIRST 108 DAYS, WE’RE WORKING TO SUPPORT THE GOVERNMENT…



You’ll be happy to know, well not really, that every single hour that you work from January 1 to April 18, you, my friends, are working to support the government. Which, I’m told, is five days longer than it was last year. So this year it is April 18 that will be Tax Freedom Day, that day when Americans have worked enough to pay all of their federal and state taxes for 2013, a round total of $4.22 Trillion, according to an analysis done by the Tax Foundation.

Americans will pay more than $2.76 Trillion in federal taxes and another $1.45 Trillion in state taxes for 2013, for a grand total of $4.22 Trillion in taxes, or roughly 29 percent of income.  April 18 is the 108th day of the year, and it just so happens to be roughly 29percent of the calendar year. According to the Foundation, as incredible as it sounds, Americans will spend more on taxes than they will on food, housing, and clothing ‘combined’ in 2013.

The Tax Foundation has calculated it will take Americans:
-- 32 days to pay for federal individual income taxes;
-- 24 days to pay for federal social insurance taxes;
-- 12 days to pay for state and local sales taxes and excise taxes, as well as property taxes;
-- 8 days to pay for state and local individual income taxes, as well as federal corporate income tax;
-- 3 days to pay for other federal taxes and another three days to pay for other state and local taxes,
-- 2 days to pay for federal excise taxes,
-- 1 day to pay for state and local corporate income taxes,
-- and three hours to pay for state and local social insurance taxes,

Last year’s Tax Freedom Day, April 13, as I said was five days earlier, with the difference this year attributed to increased federal taxes on individual income and payroll as part of the fiscal cliff deal. In addition, investment and excise taxes under Obamacare have also kicked in. Now I there some who may say what’s five days, but they’re probably the one who are made to pony up every year at tax time. But, it’s five less days worth of income that I could spend on my family.

Since 2002, federal expenditures have exceeded income and, as crazy as it sounds, the federal budget deficit has exceeded and mindboggling $1 Trillion annually since 2009, the year our ‘Dear Beloved Leader’ assumed his current role as president. This year, however, it is expected to come down to $833 Billion. If that deficit spending was included in the calculations, then nationwide tax Freedom Day wouldn’t be until May 9. How’s that make you feel?

Tax Freedom Day has also been calculated for individual states since sufficient data first became available in 1990. According to the economists, the day varies, with it falling later in higher-income states, due to the "steep progressivity" of the federal tax system, while lower-income states have earlier dates for the same reason. The latest Tax Freedom Day this year will be May 13 in Connecticut. March 29 was the earliest day, for both Louisiana and Mississippi.

And, not being a economist myself, I can’t help but wonder what sort of impact the fact that there are now nearly 10 Million fewer people in the workforce today than there were when Barry came into office, might have on making me work even more days to support the government. Suppose those 10 Million Americans were all still working, might that make it so I could maybe stop working to support the government a little sooner and I could start working to support myself?

Monday, March 4, 2013

TAX REVENUES HIT NEW HIGH, AND STILL OBAMA SAYS SOME ARE NOT PAYING THEIR FAIR SHARE...


Ok, so the news is now on the street that federal revenue will return to its pre-recession levels in 2013, according to projections from the Congressional Budget Office (CBO), and actually set a record for the most money that our bloated government has ever managed to take in. And when you stop and consider the fact that nearly half of our citizens no longer pay any income tax, the amount mentioned appears to be all the more…impressive? In its latest Budget and Economic Update, the CBO forecasts that federal revenue will top $2.7 Trillion in 2013, slightly higher than the $2.6 Trillion the government collected in 2007, when the last recession 'officially' began. And while government revenues had fallen by nearly $500 Billion during the recession to $2.1 Trillion in 2009, they have been steadily growing since June 2009, with the CBO now projecting that they will slightly eclipse their pre-recession peak.

In fact, the $2.7 Trillion in revenue will be the most money the federal government has ever collected in history. So, at a time when our government will be taking in what is described as being a record amount of money, why is it that we need more? According to those who keep track of such things, the government has never collected more than the $2.6 Trillion it collected in 2007, meaning that if CBO’s projection is correct, it will set a new record for revenue collection in 2013. So at a time when we're collecting more in taxes than has ever been collected before, how is it that we have Barry, and the Democrats, demanding that we need to collect even more? Barry continues to say that we need a balanced approach to deficit reduction, one that must include more federal revenue in the form of "tax reform." But in light of these numbers, his claim seems to ring a little hollow. It would seem to me that now would be the time to cut spending.

"Now, I think this balanced mix of spending cuts and tax reform is the best way to finish the job of deficit reduction," Barry said in a speech as recently as February 5. Republicans on the other hand quickly counter that additional tax revenue is not necessary, citing the tax increases on wealthier Americans they agreed to as part of the January deal to make permanent most of the Bush tax cuts. Instead, they argue, the focus should now turn to making sizable, and real, cuts to our ballooning federal spending rather than raising further tax revenues. "Democrats say we should replace the president’s ‘sequester’ with revenue increases, or delay it. Republicans say we should replace [it] with responsible reforms that will help put us on a path to balance the budget in 10 years," House Speaker John Boehner (R-Ohio) said at a news conference on Wednesday. Not often I find myself agreeing with Boehner, but I do here.

So the bottom line here is that at a time when the government coffers should be literally busting out at the seams, they are, instead, quite empty, with everything having been spent and then some. And still the Democrats, led by our 'Dear Beloved Leader,' say the rich simply are not paying their "fair share!" Oh really? Then I'm curious to know exactly what their fair share might be. The hypocrisy that we now see on display here and coming from both Barry and the congressional Democrats, should convince many that not only is their argument false, their stewardship of the people's money has been nothing short of abysmal. But I suppose that matters very little to those who don't pay taxes, which is what Barry and the Democrats are, most likely, banking on as they continue to demand that the evil rich be made to pay even more. Every time I think about how prosperous this nation could be were it not for Barry, I just get so pissed!

Monday, January 7, 2013

SO, YOU THINK YOU’RE BEING TAXED ENOUGH YET?

 
Well I can definitely tell you who thinks that you're not being taxed enough, in fact nowhere near enough. At least not yet! So the next time you find yourself thinking, gee, I wonder of the Democrats are done raising taxes on the American people, consider the following. When that question was posed to Nancy ‘Too Much Botox’ Pelosi, the supposed 'leader' of the House Democrats, the answer was a very emphatic, "No!" And her Democrat compatriot Chris Van Hollen, who hails from ‘The Socialist Republic of Maryland’ seems to agree with her. He says, "We can raise more revenue." God, and then we have 'Little Dick' Durban, from Illinois, who also seems to think that Washington can continue to squeeze a little more from taxpayers, saying "there are still deductions, credits, special treatments under the tax code which ought to be looked at very carefully."
 
 
Each of these Democrats recently took similar questions about additional tax hikes on different Sunday talk shows. Being interviewed by that pathetically senile old fart, Bob Schieffer, host of CBS's "Face the Nation," it was Pelosi who was asked if the "revenue side" of the fiscal cliff is now finished. Oh, and for those of you who may be unaware, revenue is essentially Democrat-speak that when translated means higher taxes. Her idiotic, yet simplistic response, which should come as no surprise, was to say, "No, no, it is not." She went on to blather, "I mean, the president had said originally he wanted $1.6 trillion in revenue. He took it down to $1.2 as a compromise. In this legislation (fiscal cliff) we had $620 billion, very significant, high-end tax -- changing the high-end tax rate to 39.6 percent. But that is not enough on the revenue side." Compromise?
 
 
Next old Bob asked 'Old Stretch' Pelosi, "Are you talking about more taxes?" Without a moment’s hesitation, Pelosi responded, "We're talking about looking at the tax code, putting everything on the table from the standpoint of closing loopholes, and we know that we can do that, special subsidies for big oil, for example, $38 billion right there." To which the senile one asked, "But again, not to take things in isolation, just to say, OK, well, how much more revenue can we get as we go forward?" Would Democrats eliminate tax deductions, Schieffer asked Pelosi. Pelosi answered, "My idea of tax reform is to have a comprehensive view." She went on to say, "We've talked about tax simplification and fairness as something that we should be engaged in all along -- long before these fights came along. And now we have a chance to do that with I'd say a heightened awareness by the public on why we need to do certain things."
 
 
But as always whenever talking about raising taxes even further so that she and her gang of corrupt stooges can then continue on their vote-buying binge, Old Stretch was far from finished. She added, "So let's, you know, put on the table what it is that we can, in order to increase revenue. We've changed the rate, the high-end tax rate, (to) 39.6 percent, a very important step. And again, there's much more that we can do by just subjecting it to the scrutiny of what is bringing in revenue, what is creating growth. And we don't want to hurt that if there's some tax provisions that create growth. We want to support that." Pelosi ruled out higher taxes on the middle class. But for people in higher income brackets, higher taxes are "not off the table," she said. "But not in terms of tax rates but in terms of other considerations." Again she said, "We have to take a balanced approach."
 
 
And then over on "Fox New Sunday," we had Rep. Chris Van Hollen who was also asked about the Republican position, expressed by Mitch McConnell, that there will be no more tax hikes. And his typically idiotic answer was to say, "Well, if Mitch McConnell is going to draw the line in the sand, it's going to be a recipe for more gridlock." This imbecilic dolt went on to say, "We have to take a balanced approach to long-term deficit reduction, meaning additional (spending) cuts." Van Hollen noted that as part of the fiscal cliff deal, "We raised $730 billion in revenue from very high income individuals. As we go forward, we need to adopt the same framework as the bipartisan Simpson-Bowles commission, meaning a combination of cuts and revenue." During the presidential campaign, even the Republican candidates were talking about closing tax "loopholes" that benefit wealthy Americans, Van Hollen noted: "Guess what. They are still there," Van Hollen said. "So, through tax reform, we can raise more revenue matched by additional cuts to address the sequester issue and long-term deficit." Adding, 'These loopholes...'
 
 
And on CNN's "State of the Union with Candy Crowley," we had 'Little Dick' Durbin who also indicated that he's quite willing to keep raising taxes: "There's money to be saved in tax reform," ‘Little Dick’ said. "I can tell you that there are still deductions, credits, special treatments under the tax code which ought to be looked at very carefully. We forgo about $1.2 trillion a year in the tax code, money that otherwise would go to the government, and when you look closely, some of those things are near and dear to us individually and to the economy, the mortgage interest deduction, charitable deductions, deductions for state and local taxes, but beyond that, trust me, there are plenty of things within that tax code, these loopholes where people can park their money in some island offshore and not pay taxes, these are things that need to be closed. We can do that and use the money to reduce the deficit." Trust him? Is he actually serious??
 
 
Crowley then asked 'Little Dick', "So there are other taxes that you believe that you can, however you want to put them, raise, retrieve, whatever, from the wealthy?" "Absolutely," he replied. Saying, "And I'll also tell you that I think we need to open our minds to our tax revenue. You know, we've had conversations about an infrastructure fund that will really start America building again, for the highways and airports and locks and dams and things like that...I believe we should have energy taxes that really fund infrastructure investment." ‘Little Dick’ said higher gas taxes should be considered in the future. And he alluded to higher taxes on electricity to expand the nation's power grid. So apparently, there really isn't much that 'Little Dick' is not in favor of slapping a higher tax on. What a guy!
 
 
So I’m a little curious here. At what point is enough, enough? And at the end of the day are we to be left with anything? Will we at least be left with enough that will allow us to still buy food, or enough gas to get to and from work so that we can pay the higher taxes that this pond scum want us all to pay? Or will we be able to keep enough so that maybe we can put our kids through college? Or, are we simply going to be expected to hand over everything to a government which will then determine just how much food we are allowed to buy, or how much gas we will be permitted to use before we must rely on public transportation to get to and from our place of employment? And a government who will decide ‘for’ us if we can send our children to college? Of course, minorities won’t have to worry about that, since higher education will be determined to a right for them. It’s not a very pretty sight, what the Democrats have in mind for us.