America is taxing and spending itself into the poor house.
There is a way out…
The 10th Man – Jared Dillon, Oct 13, 2016 Excerpts:
“Who has the highest tax rates in the world? The US is close to the top. The top marginal income tax rate at the federal level is 39.6%……
But you have to take into account state income taxes, too. California is the highest, at 13.3%. Some municipalities and counties also have income taxes. When you take into account New York state and city income taxes, it’s also about 13.3%…..
We now pay a 3.8% surtax on investment income, which was intended to fund Obamacare…..
We also pay payroll taxes of 6.2% for the employee and 6.2% for the employer on the first $118,500 of income, plus Medicare taxes of 2.9%, 1.45% for the employee and 1.45% for the employer. Economically speaking, the employee pays both.
In some localities (like New York), there is something called an “unincorporated business tax,” or UBT, so if you have an LLC or sole proprietorship, you pay another 4% on your net business income.
[Property taxes] In high-tax jurisdictions like New York, New Jersey, Connecticut, or Illinois, you can easily have a tax burden of $20,000 annually on a middle-class home. I have heard that property tax bills of $50,000 to $70,000 are pretty common. Nobody takes this into account in the global comparisons.
Here’s more: A List of 97 Taxes that Americans Pay Every Year
Big government bean-counters and economic apparatchiks undoubtedly lay awake at night, dreaming of new ways to raise existing taxes and develop creative, stealthy new taxes to extract more money from hard-working Americans.
Americans have had enough. We are spinning our wheels and spiraling ourselves ever deeper into a cavernous debt hole.
There is one economic acceleration plan in America with the power to generate massive revenue growth for Federal, State, and Local governments and pave the way for meaningful tax cuts at all levels of government.
It restores economic liberty and reduces dependence on government.
The Leviticus 25 Plan is a budget-balancing powerhouse with dynamic financial benefits for each and every American family.
The Leviticus 25 Plan 2017 – $75,000 per U.S. citizen The Leviticus 25 Plan 2017 (1711)