Watchdog.org issued their annual report regarding how many days this year the average American must work to pay off their taxes, this year that number is 99 days.
You can read the report in full HERE, but it's this last part that caught my eye:
And that does not include the full cost of the federal government, he said. “We’re really taxing for only 60 percent of what we’re spending. If we increase to include all of it, Tax Freedom Day would be May 17.”
He said the calculations this year do not include estimated costs of the recently passed national health-care plan or the possibility of President Bush’s tax deferrals expiring.
Asked if Tax Freedom Day calculations include national, local and state government expenses and debt that are off the books, Hodge laughed and said, “That would take us to 2075.”
“Actually, we did a calculation on what it would take just to eliminate the deficit and got a 242 percent increase in income tax rates. The 10 percent bottom rate would have to be 24 percent, and the top rate would have to be 86 percent.”
He added, “That would do nothing about the national debt.”
After reading that my only thought was, at what point do we say we can no longer afford it? What point does this nation need to get to before we say we can no longer afford all the things Government is attempting to do?
We have hit a point where it would take 86% of everything the top income earners of this country make and 24% of the bottom income rates just to pay for what we are currently spending without even touching our nations debt. Think about that. Think about what it means.
Yet people continue to turn to this same government, this broke government, and say "I want more". And our government gives what it doesn't have.