Tax Cheats Snub Spend-Crazy Feds
There would have been no federal budget deficit last year had tax cheaters paid all they owed.
SOON IT WILL BE EVERYONE'S FAVORITE DAY-April 15th. How much will you owe? Federal income taxes are only the
Directly or indirectly, employees and proprietors paid this entire bill of $3.358 trillion, or almost $24,000 per employee. Total compensation earned by employees and individual proprietors last year was about $8.2 trillion, so, by my calculation, this means 40% of your income went to various government agencies.
And where did that 40% of your income go? Most of it, if you're under 65 and working at a regular job, went to the less fortunate. The numbers are stunning. Federal expenditures were $2.55 trillion, with $495 billion going for national defense and another $272 billion going for purchased goods and wages paid. At the same time some $1.69 trillion was transferred to someone else-well, actually a lot of someone elses. That's some federal case.
In addition, make sure to read these articles:
- How Do I Pay My Self-Employment Tax?
- Tax Cheats Snub Spend-Crazy Feds
- Letter on IRS budget and new commissioner
- Waht happened to the recovery?
- How Bush's tax cut will really work
- A victory without spoils
- Joel L. Naroff Joins Commerce Bancorp as ChiefEconomist.
- Gentle Ben?
- The End Of (Most) Pensions
- Four More Years
- Rx: The Market
- Fed holds the line. But then what?
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