With the average persons income tax being around 35% or having to work four months for free?
where does all this money go?.......here is a list of other taxes you pay not including income tax......... Alternative Minimum Tax (AMT) Capital gains tax Corporate income tax Estate tax in the United States Excise tax (includes taxes on cigarettes and alcoholic beverages) Federal income tax Federal unemployment tax (FUTA) FICA tax (includes Social Security tax and related programs) Gasoline tax Generation Skipping Tax Gift tax IRS penalties Local income tax Luxury taxes Property tax Real estate tax Recreational vehicle tax Road usage taxes (Truckers) Sales tax and equivalent use tax School tax State income tax State unemployment tax (SUTA) Telephone federal excise tax Vehicle sales tax Workers compensation tax
Public Comments
- And the democrats think we do not pay enough in taxes. Amazing isn't it.
- According to Ron Paul, a whole lot of it goes to government waste. Programs are rarely cut, but continue to be funded long after they're no longer needed. Imagine having 20 gym memberships automatically being charged to your credit card every month. And on top of that, memberships to a bunch of organizations you're no longer interested in are getting charged. Ron Paul wants to go in and cut all that waste. If it's no longer needed, cut the funding. If it doesn't work, privatize it to bring the quality up and cost down. If it works, keep it. You're right. There are plenty of taxes. Ron Paul would work to end the income tax.
- And with that long list we are By FAR the lowest Taxed Industrial Nation. But then when we start getting Free Health coverage I'm sure we will be like those other Nations and Be above 50% taxed, I just Love free stuff.
- Half of our income goes to taxation. Americans are riduculously lackadaisical in this regard. Many of them keep calling for higher taxes and more inefficient government programs. In truth a radical tax cut would stimulate so much economic growth tax REVENUES would actually increase.That's precisely why the deficit has come down in the last six years. Americans are woefully ignorant about taxes and the economy.Yet around the world center left govts. from Chile to Ireland to even Communist China are lowering tax rates to stimulate their economies. The only alternative is to go back to the high tax low growth ideas of the 70's.
- The Federal Income Tax goes to pay the Federal Reserve all of the Interest we owe them when they print money out of thin air and then lend it to us. The constitution gave US the right to mint our own money, so why we have a MIDDLE MAN like the FED is beyond me. Just as an FYI - The Federal Reserve is NOT a Gov't Entity. It is owned by various international, very wealthy bankers, who are not required to provide US the American Public with any accountability on what they do, nor are they subject to an audit of any kind. The State Taxes are different, I dont mind paying those as much, because the State Taxes really do go towards running the State - It's the FED Income tax that really gets me angry. No one in Washington seems to try to budget at all. They will spend and spend and spend our money and they dont care. We are slaves to the system, and having to work for 4 months out of every year to pay taxes on a bankrupt system makes me sick.
- Very few pay 35% income tax. It may work out to 35% + if you consider sales tax, property tax, and the multitude of fees we pay for license, etc.
- It is too bad we cannot just pay one tax and let the various governments divide the money up. Several years ago, I took the time to figure out exactly how much I paid in taxes. When it was 55%, I quit working and took early retirement.
- Naughty, naughty.... you missed several thousand more that fully deserve to be mentioned. If Clinton or Obama are elected, the only thing I can say is.. get your money out of the United States. There is no way either of the Democratic Candidates can do those programs without more taxes. Further, when you mention tax reform such as Huckabee has discussed, they provide forked tongue answers and wind up making no sense at all.
- Sad how much is taken without us ever seeing it being gone. And don't forget all the fees that are charged by the government too. Fee for your drivers license. Fees to go into parks. Hmmmm, I'm sure there's about a hundred or so more fees that haven't crossed my mind yet because it's pretty early on a Sunday morning. But how good the establishment is at trying to hide the fair tax from the masses. A 23% sales tax on what we spend? How ludicris is that? A tax that is there to be seen by everyone? Not hidden, but out there in the open for all to see? How could the power ever let us know what we really are paying?
- It is amazing number of taxes we have, isn't it..Now we have some who feel the need to bail out banks for extending mortgage credit to people who didn't bother to read a contract or have the ability to pay a mortgage!! I blame the lending institutions, businesses who mastered Marketing 101 and our government more than consumers for this dilemma. The banks assumed all the risk by extending loans with little or "no money down". The government because they conditioned all of us that it was our "right" to own a piece of America. Businesses for their aggressive and irresponsible advertising programs. The educational student loan programs will be the next GREAT crisis around the corner. Students and parents that were lead down the path of financial servitude believing that government will help them achieve their educational goals. Educational institutions for trying to fill seats in classrooms, and of course. the lenders who extended loans to people who didn't even have a job yet and now can't get one!! I guess ole Ben Franklin gave the best interpretation of what our right is.."The Constitution only gives us the "right" to "pursue" happiness. You have to go catch it yourself."
- Thats alot of taxes isn't it? And what do we get for those tax dollars? What problem has the gov't fixed? We pay some to federal, some to state, and some to the town. Look up your state taxes http://www.census.gov/govs/www/statetax.html add to your list utilities tax Double taxing? Some of these are taxed by state and federal. Some states do not have a sales tax or an income tax or lower property taxes. Connecticut has ALL taxes imposed on us. It is a long list.
- "To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical." Thomas Jefferson You have to figure this one out
- sorry about that Marc B, i was a little quick on the thumbs down, before i realized you were FOR the FairTax. A couple other things: American individuals and busisnesses spend about $500 billion (with a B) every year just to COMPLY with the current tax code. On accountants (who have to study and understand the 1.6 billion words in our current tax code), on time spent filling out forms and evaluating "tax consequences"of your business decisions. None of that goes directly to the Federal Government. With the FairTax, that money goes back in to the economy, or into savings (and then back into the economy in the form of loans). It will vastly increase the number of people taxed. under our current system, earned income is the primary source of tax dollars. So those employed (legally) in US are paying all the taxes. under the FairTax, everyone who spends money in the US will pay taxes. That lets us add foreign diplomats, vacationers, and those on worker's visas. Do you think your local drug dealer and hookers pay income taxes? Throw them in as well as the rest of the criminal enterprises. Most analyst agree that the IRS collects about 75% of the taxes owed, due to people cheating on their taxes. That works out to more than $1.5 trillion each year. With the FairTax, it takes at least two to cheat. The buyer and the seller willing to not charge the FairTax on a sale. Will that elminate tax cheats? No, but it makes it a lot harder for them.
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