What’s that you say? “Tax bills in 2009 were the lowest they’ve been since 1950?”
That’s right, ladies and gentlemen! Taxes are at levels not seen since the presidency of Harry Truman. USA Today has the story:
On average… the tax rate paid by all Americans — rich and poor, combined — has fallen 26% since the recession began in 2007.
This is in stark contrast to the opinions of many who think the federal government is putting its hand deeper into taxpayer’s pockets.
A Gallup Poll last month found that 48% thought taxes were “too high” in contrast to 45% who thought they were “about right.”
Taxes may be the losest but what has the deficit done it that time. Spending has to be painfully cut. The tax system has to simplified, no more loopholes or credits. A tax based on what an individual or company earns through wages, revenues and a p0rtion of savings/investments (to encourage long term savings). Either a straight tax or a step tax. Young people speak out to make the people getting the benefits of today’s deficit pay today and not leave the burden to the next generation.