Thursday, April 26, 2007

Tax Receipts

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).


Paul said...

How can you take it as a given that we are over-taxed?

Maarek said...

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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