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I pay way less Federal taxes today than, 5, 10 and even 40 years ago.
Looking at the good side, when you are paying lots of Federal taxes, you are making lots of money!
I don’t know any mainstream economists who think that printing money is a good way to raise government revenue. Maybe in the short term to combat deflation (like in late 2008 and early 2020), but not in normal times.
Economists are part of the problem.
They suffer under the same delusion that money has some sort of intrinsic value other than what we assign to it.
Debt of theoretical money is only theoretically debt.
We're paying taxes because we live in a country full of greedy and corrupt politicians. I don't think we should be paying as much taxes and for every single thing.
I pay way less Federal taxes today than, 5, 10 and even 40 years ago.
Looking at the good side, when you are paying lots of Federal taxes, you are making lots of money!
"In 1909 progressives in Congress again attached a provision for an income tax to a tariff bill. Conservatives, hoping to kill the idea for good, proposed a constitutional amendment enacting such a tax; they believed an amendment would never received ratification by three-fourths of the states. Much to their surprise, the amendment was ratified by one state legislature after another, and on February 25, 1913, with the certification by Secretary of State Philander C. Knox, the 16th amendment took effect. Yet in 1913, due to generous exemptions and deductions, less than 1 percent of the population paid income taxes at the rate of only 1 percent of net income." (my bold)
Still believe you're looking good? Imagine what your purchase power would be, if they didn't take out taxes. Imagine what your purchase power would be if they had stayed at the percent promised in 1913 --- 1 percent.
And this isn't about you the citizen, it's about why the u.s. is do deeply in debt with all the tax garnishment of wages going on and the belief by some that the u.s. can just print more money.
The debt is so colossal that most people literally aren't capable of understanding just how big a number that is.
The government seems to think that it can just print whatever money it wants to spend, with no real plan to get any of it back.
Everyone (with power/authority) is behaving as though all that money printing won't affect anything. Those who are voicing concerns about the result of that xeroxing are summarily dismissed as conspiracy theorists or crazy or whatever.
If printing money doesn't harm the economy, and they can just print whatever they need, why are we paying anything at all in taxes? Why aren't we keeping our money to use as we see fit?
Think of it as a logic puzzle. Let us know what you figure out.
They are using the WE THE PEOPLES CREDIT CARD like out of control hooked spenders .. it is not their money.. It is ours.
During the Obama years they wasted biillions of not trillions of green energy. Wasted. And there are so many areas that truly need the money.
Many hard working Americans are now struggling trying to rent to put a roof over their head and have to buy food and gas. These are necessities that we all need. The working class poor are those that are being hit the hardest with Biden in office.
They too have to pay taxes and of course the elitists think they are for the poor. They are NOT! They are all hypocrites pushing electric cars..they are so expensive and we already have big problems supplying electric during hot and cold seasons. Democrats have no sense . Never did.
You've got me. Especially considering that taxes at the federal level are being used to enslave the citizens, support the non-citizen criminals entering the country, and strengthen the authoritarian collectivist left.
"In 1909 progressives in Congress again attached a provision for an income tax to a tariff bill. Conservatives, hoping to kill the idea for good, proposed a constitutional amendment enacting such a tax; they believed an amendment would never received ratification by three-fourths of the states. Much to their surprise, the amendment was ratified by one state legislature after another, and on February 25, 1913, with the certification by Secretary of State Philander C. Knox, the 16th amendment took effect. Yet in 1913, due to generous exemptions and deductions, less than 1 percent of the population paid income taxes at the rate of only 1 percent of net income." (my bold)
Still believe you're looking good? Imagine what your purchase power would be, if they didn't take out taxes. Imagine what your purchase power would be if they had stayed at the percent promised in 1913 --- 1 percent.
And this isn't about you the citizen, it's about why the u.s. is do deeply in debt with all the tax garnishment of wages going on and the belief by some that the u.s. can just print more money.
You don't need to post this for me. At least I know that gov't not only doesn't need my dollars to operate, they never intend to pay off their debt. Same as all modern and successful countries. it's fiat, man!
In my life I've stayed ahead of inflation through investing, and now retired. So now gov't sends me an unneeded check every month, and then turns around and takes taxes out of that. Why don't they save computer time and ink and just send me a smaller monthly check?
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