Taxes Revisited

And, they always want to grab what's not theirs. Colonel House (advisor to Pres. Wilson) convinced the President and the American citizens in 1913 to institute the first Federal Tax at 1%. Colonel House promised that Federal Taxes would never exceed 1%. Well, we know that was a vacuous promise.

But, he couldn't forsee FDR's four terms in office and what would follow thereafter.

Twenty-five years ago, one out of every five dollars that anyone earned went to the Federal Government; now it is more like one out of three dollars earned so that's roughly 33% plus add in 8.5% for Social Security (if you're self-employed, it's 15%); so, thus and therefore, we're now up to between 40-48+% of annual income. Now, add in state and local taxes at around 6% of annual income; so we're now at 46%-54% of annual income.

All in all, by the time we pay all federal taxes and state taxes (mind you, we really start out at about 97% of income because of state taxes on sales receipts for food, gas, clothing, whatever, etc.). We're now at 49%-57%.

Then add in all state and local taxes for electricity, gas, cell phones, water, etc. So, we're now at 50%-58% of annual income.

So, you thought you were rich? You're only rich if you are poor; that's an oxymoron, I know.

That's how Obama gets his votes by milking the middle class and the rich to feed the poor, who are generally inefficient, hateful of themselves, and always willing to take a handout. I'm not saying that everyone who is poor is self-loathing but the large majority are, alas!

That was his strategy to run slightly left of center, and then to raise taxes because he is essentially a Socialist and perhaps a Communist. He wants the system to implode. That's why the Federal Debt now exceeds 14 Trillion dollars - more than GDP; Cloward and Pivens Strategy to make America destitute and turn into a Communist State.

BTW: If one takes the "l" out of Cloward; it spells: "COWARD!"

Don't get me started on property taxes for that matter. And, BTW, Social Security is not a fund; they take all the receipts and apply them in that year to Federal expenditures - that's why SS will go defunct/default/bankrupt by 2040 (but probably way before then).

So, essentially, we pay 50%-60%+ income for nothing but roads, public schools, and public libraries. But, it's up to each of you how you're going to deal with the real circumstances of our existence!

With the deepest regards,

Hippo

P.S.: I'm going to Capitol Hill on Tuesday to meet Rand Paul and whoever else is there. I'm not scared of anyone or anything, my friends. I already know who the next President will be.

P.S.S.: I suggest an A-B Trust if you don't want your children to be double taxed, which, however, is unconstitutional, on estates.