Well, it’s Income Tax Day. If you’ve been putting it off until the last minute, it’s here.
And, oddly enough, we’re barely a week away from Tax Freedom Day – the day when the average American’s income finally passes their annual tax burden. In other words, you’ve been working for Washington, DC all year. Once April 24 rolls around, you can start thinking of paying all your other expenses and actually start working for yourself.
Think about that. Nearly a third of your total income goes to the government. Forget food, clothing, housing, transportation, recreation, gifts, charitable donations, political donations, anything — roughly 30 cents out of every dollar you earn goes straight to Uncle Sam.
According to the two leading Democrats running for office, that ain’t enough.
Both Barack Obama and Hillary Clinton want to let the Bush tax cuts expire. Forget the technical lingo, what that really means is they want your taxes to go up. They want you to give more money to the federal government, and have less for yourself.
Thirty-one cents out of every dollar. I’m not religious, but as I understand it, God (the Christian one, and possibly the Jewish one too) only asks for ten percent.
Things could be worse. Under Bill Clinton’s last budget (2000), it was over a third of your income.
Thank heavens for small favors.
Here’s a thought: if you think that you are undertaxed, then feel free to write the government a check for how much you think is your fair share. In Massachusetts, they formalized the notion by offering people two tax rates — they can pay the lower rate by default, or they can choose to pay the higher rate by checking off a single box. Every year the number of Massachusetts
subjects taxpayers who choose to pay the higher rate scores in a tiny fraction of one percent — and it dwindles each year.
Hillary Clinton and Barack Obama — the candidates of “don’t tax you, don’t tax me, tax the fellow behind the tree.”
Guess what? We’re all behind a tree somewhere. They talk about only raising taxes on “the rich,” but never define just who they consider rich. And in the end, everyone ends up paying those taxes in one way or another.
At what point does the government take enough of our money?
Today, of all days, I’d like an answer.