The sentiment of this sign encapsulates the stark IDIOCY of the Dem's base.

Right now they keep saying "you can't drill your way to energy independence", yet they think that the "Rich" are an inexaustible source of revenue ?!?

Interesting question: IF the federal government would tax confiscate 100% of any personal earnings over $500,000.00, how long could it operate the government on those funds at current rates of expenditure?

I'm still researching it, but I think the answer will/would shock most taxpayers.
If you happen to know the figure, please let me know.

In the mean time, here are some (outrageous to me) Tax Facts:

1. There are 1.2 MILLION paid tax preparers in the US. (that is SIX times the number of troops we have in Iraq. These are some of the best and brightest minds we have in our populace and all their efforts are expended to feed the greed of the Federal government; instead of contributing to the GNP, they are working to be accountants on the drain of the GNP by government.
Think of it...we have a veritable "Tax Army" working right here in the good ol'e US of A !

2 The number of pages in the tax code and regulations stands at 54,846 in 2003. (according to tax publisher CCH.) Any wonder that no can understand the Tax Code any more? (Complexity is one way to increase and/or hide revenue; when even two IRS agents can't agree on the answer to a majority of tax questions; it's easy to abuse the system against the payor in favor of the government.)

3 AMT designed to catch 155 taxpayers will soon catch 37 million.
The alternative minimum tax is an unneeded parallel tax system alongside the ordinary income tax. It began life in 1969 after Congress was shocked (shocked!) to learn that 155 wealthy individuals were not paying tax because they used too many of the deductions that Congress had provided them. The AMT has been a complex nuisance ever since. But this dumb idea aimed at the rich is set to explode on the middle-class as the number of AMT taxpayers skyrockets from 3 million today to 36 million by 2010.

4 Taxes are an overwhelming burden on every family's budget planning.
Shouldn't saving for education, retirement, and other items be as simple as putting money in the bank? Instead, Congress has manufactured hundreds of special savings rules, such as for 401(k)s, Keoghs, deductible IRAs, nondeductible IRAs, education IRAs, Roth IRAs, traditional pension plans, annuities, SIMPLEs, SEPs, MSAs, and others.
(The IRS guide to IRAs alone is 105 pages long!)

5 American taxpayers spend $200 billion and 5.4 billion hours working to comply with federal taxes each year. That is time,money, and effort that is not contributing in any way to the GNP, but wasted on compliance with government mandates.

The complexity of the tax code encourages evasion, and gives inordinate power to our elected officials and the lobbyists for special interests that would co-opt them. It is also the single largest drain on our GNP, as it is estimated that over $1.5 TRILLION is sequestered in offshore accounts to evade taxation. That is money that is NOT working for our economy, but for the economies of foreign countries.

I have said it before, and I am going to sound like broken record in the future for any constant readers here (as if I HAD any! LOL), but we need to
PASS THE FAIR TAX NOW.

Posted by: Delftsman3 at 11:58 AM | Comments (2) | Add Comment
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