4/16/09

Rent-to-own

According to the Washington Post, our Federal tax burden is at an 'historical low'.

Yep. You can read about it here:

Americans' tax burden near historic low

The nonpartisan Congressional Budget Office estimates that the average family forked over barely 9 percent of its earnings to the IRS in 2006, the most recent year for which information is available. The effective tax rate hit its all-time low in 2003 and has since crept up only slightly.

Middle-class families -- to whom President Obama has delivered even more tax relief since he took office in January -- have fared especially well, according to the CBO. The middle fifth of taxpayers, who earned an average of $60,700 per household in 2006, paid just 3 percent in federal income tax that year, down from a high of 8.3 percent in 1981
.

"All-time low"? Not hardly. Our good friends at WaPo need to study a bit of history:

America's tax burden

With tax day fast approaching, the Internal Revenue Service is projecting that close to 140 million American individuals, families, and businesses will file returns by April 15. In total, the U.S. Department of the Treasury expects to fill its coffers with an estimated $2.5 trillion in tax revenue in 2008. According to data released by the IRS in 2007, the average American household paid $22,100 in federal taxes–a dramatic increase from 1965, when the average household’s tax burden was $10,800 (inflation adjusted).

Reports from the U.S. Department of the Treasury indicate that, since World War II, gross federal tax receipts have averaged 18 percent of total U.S. gross domestic product (GDP). According to IRS projections, tax revenue for 2008 is projected to decline slightly, to 17.6 percent of GDP. The IRS attributes this expected decrease to the overall economic slowdown in 2007 and the 2008 tax rebate/economic stimulus package.


In the same article, you will find more historical perspective. Check the paragraph headed "Taxing times".

But the real burr under the saddle of we right-wing "extremists" is the incredibly irresponsible spending, borrowing, and giving away that is going on not only in the US Congress, but in state legislatures across the nation. The real burr under the saddle is local government officials who are waiting, all a-quiver, slobbering huge ropes of fiscal drool, for "free Federal money".

If Obama and his henchmen have their way, our kids and their kids are going to be working for The Chinaman and anyone else who is willing to buy up our debt.

What we are seeing out of those morons we laughingly refer to as our "leaders" is a rent-to-own mentality.

You too can own a $300 TV. Just "rent" it for $99 a month for a year, and it's all yours!

And you too can pay for Porculus Americanus, for Obama's Folly. We just keep on making those minimum payments ... until the principal comes due. And it will.

That is the legacy this government, this administration, those people in Washington, are leaving our children and our grandchildren.

Because we find that unacceptable, we are considered a threat to the nation, a hotbed of insurrectionist right-wing extremism.

Meanwhile the babbling buffoons of MSNBC are having wet dreams about each others testicles, or where they want to put them, or have them put ... and passing that off as "intellectual commentary."

Perhaps it's time to start flying the flag upside down.