From the Club for Growth:
The federal government set a new one-day record yesterday for personal income tax collections. They received $49 billion. That's roughly the GDP of Costa Rica.Wow, that means our government spends way too much (we are still in a deficit), our economy is booming (since the take is a percent of income), and we are overtaxed (which I take as a given).
2 comments:
How can you take it as a given that we are over-taxed?
Since the average American spends somewhere in the area of 45% of his income on taxes (federal, state, and local) for services that should consist of police protection, decent roads (debatable), and the occasional war, I think we are not getting an acceptable ROI.
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