Friday, September 28, 2007
Someone Is Stealing Money Out Of My Paycheck, And I Think It’s The Government
For Whom the Bell Tolls…
…The thoughts and rants of a white, upper-middle class, conservative, dangerously good-looking, super awesome, twenty-something mechanical engineer straight out of the not-so-mean streets of the not-so-urban suburbs of Bergen County, New Jersey…whose last name just happens to be Bell so that he can cleverly name his blog “For Whom the Bell Tolls.”
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Have you ever bothered to calculate how much money the government actually takes out of your paycheck per year in taxes?
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Well, ChrisBell, sad to tell, it’s even worse that you think. You can’t tell Bell what you are paying in taxes. There are additional factors to consider:
ONE, Inflation! The good old Federal Reserve Bank, which is neither Federal, Reserves anything, or a Bank, prints far more dollars — both with a printing press and electronically. This technically is monetary inflation, which allows the Federal Gooferment to “tax” everyone who has a dollar. If one pays attention in Ekkeynomics Class, when the sovereign debases the currency by printing more they get to spend these new dollars without taxing the people. Inflation ripples through the economy hurting all sorts of people. After all the stolen wealth has to come FROM somewhere. The net effect is a tax of some number per cent, no one knows exactly, estimated between 2% (Fed’s number, 12% some economists’ number, and 20% some conspiracy nuts number. So, each year, one can say you’ve paid an inflation tax. Someone has to pay for all the welfare warfare programs.
TWO, Businesses don’t pay tax; you do! Business only exist to make a profit. All of their costs are added into the cost of whatever they sell. Buy a widget and all of their costs are in that widget. Think they paid taxes? Nope, you did. Corporate income tax? Nope, it is deliberately misnamed. It’s a Personal Tax Paid By You Via A Business!
THREE, Hidden taxes! Did you know there are federal, state, and local taxes on gasoline? How much gas goes into the products and services you buy? (see item #2) How much gas do you use earning money and getting the stuff you need home to consume? Yup, you paid more taxes.
FOUR, Price rises raise taxes and fees! When the cost of goods and services go up, from inflation or greedy gooferment charges more, that is more taken out of the productive side of the economy and flushed down the rat hole of gooferment. So, inflation raises the “value” of your house, then your property taxes go up. So, you sell an “investment” that increased in “value”, you pay more in capital gains tax. So, the gooferment publik skoolz pay more for goods and services, they need to raise your taxes to pay it.
FIVE, Gooferment spending crowds out profitable growth! When the gooferment takes more for itself, it silently crowds out better uses of that money. (Basat’s Fallacy of the Broken Window) Some of those uses would be important. If I had an extra 100k, I’d probably do something frivolous like buy a car (which would employ lots of people in Detroit). But I don’t have it, so those people are not gainfully employed. They are probably on unemployment. But, imagine all the productive wealth building uses that are crowded out. Someone could have opened a new business, discovered a medical breakthrough, or who knows what! That effect is compounded. That is, when Mary didn’t find the cure for cancer, then Joe wasn’t around to discover the superconductor, that Peter could have used to make a faster computer, that Paul woul have used to halve the cost of your next book from Amazon.
SIX, What is a tax and what is a fee!?! The gooferment mislabels it’s revenue collection. If you can’t avoid paying it, then it is a tax! Not a user fee. Not anything other than a nasty tax. SO, when you register your car, that’s a tax! You can’t avoid it. Real Estate Transfer Fee. That’s a tax. Regulatory recovery fee on your cell phone. Tax. Rural Telephone Fund Surcharge. Tax! SO make sure when you try to identify all the taxes you pay, you don’t miss any.
Bottom line: We have no idea how much we pay in taxes! The number, that we come up with by adding the direct taxes we pay, is only a small portion of what we actually pay. The gooferment is the only think that can force you to pay for services that you don’t want, need, or can’t afford. And, those services are shoddy, over-priced, and often sometimes even undelivered.
And, the American revolution was fought over the Stamp Act which was a 1% tax on deeds.
Now how do you feel? I feel screwed. When you consider inflation, my tax rate is over 100% of annual year’s earnings. Hard to imagine? That’s just losing ground on every dollar I save for retirement!
Don’t get me started on property taxes for gooferment eddycation and the social insecurity Ponzi scheme!
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