Don’t get me wrong, I know everybody loves to get ‘free’ stuff, myself included, but the truth of the matter is that there is no such thing as a free lunch and eventually the gravy train is going to simply run out of track. And the sooner we come to realize that and stop buying all of the pie in the sky nonsense we that we continue to hear from Democrats, the better off we’re all going to be. And I realize it’s much easier to just sit back and collect our government check than it is to have to work for a living, but let’s face it, like it or not everybody needs to grow up.
And having said that, the fact is that this year those of us who are still lucky enough to remain employed, and have to pay ever-increasing taxes, will collectively give more of our hard earned money to the government in the form of taxes than we will spend on food, clothing, and housing combined, so says a new report from the Tax Foundation reveals. Now keep in mind that it’s 49 percent of our fellow Americans who no longer need to worry about paying the tax man because it’s been determined that their fair share equates to zero being owed to the tax man.
If you’re like me when you hear that inflation-adjusted federal tax revenues have hit a record $1.48 Trillion for the first half of fiscal year 2016, which began 1 October 2015, it’s enough to make your head explode. And what should piss everybody off is the fact that so much of that money is wasted. Because even after having taken in such a massive amount the federal government has still managed to run a $461 Billion deficit during that same time. And it’s that information which comes to us courtesy of the latest monthly Treasury Department statement.
In the first half of fiscal 2016, which includes the months of October, November, December, January, February, and March, the amount of taxes collected by the federal government outpaced the first half of all previous fiscal years, even after adjusting for inflation. The federal government collected $1,476,218,000,000 in the first half of fiscal year 2016. And it was most of that $1.48 Trillion that came from individual income taxes, which comprised almost half of that total, totaling $675 Billion. It just boggles the mind how the government rips us off.
It was one year ago that the government collected $1.42 Trillion in inflation-adjusted revenues in the first half of fiscal year 2015. The Treasury Department has been tracking this data on its website since back in 1998. In that fiscal year, the federal government collected $1.11 Trillion in inflation-adjusted revenue in the first half of that fiscal year. Which means that since 1998, tax revenues have increased a staggering 33 percent. And what sort of return is it that we the taxpayers have gotten in return for all that money? Absolutely nothin’!
And now I’m guessing that it’s in an effort to maintain Barry’s pathetically anemic rate of economic growth that we’ve experienced over the course of last seven years that Democrat presidential candidate, and frontrunner, Hitlery has now confirmed that she fully plans on raising taxes by at least $1 Trillion dollars. She made that announcement during an interview with New York Daily News released this past Monday. She has proposed a slew of new hikes – including a 28 percent cap on itemized deductions to raise $350 Billion for college subsides.
It’s through what she calls a “business tax reform” that Hitlery said she plans to bring in $275 Billion for infrastructure purposes and plans to raise somewhere between $400 and $500 Billion in revenue by eliminating certain deductions, raising the death tax, capital gains tax and implementing the “Buffett Rule,” meaning anyone making over $1 million a year will face at least a 30 percent tax rate. It would appear that Hitlery feels there is no limit to how much she can take from hardworking Americans, and that we’ll be only too glad hand over to her even more of ‘our’ money!
Americans for Tax Reform said the projection will likely be much higher than Hitlery admitted in her interview as it doesn’t factor in her planned hike on capital gains, tax on stock trading or her proposal to prevent corporate inversions. The Tax Policy Center, a Washington, D.C.-based non-partisan think tank, said Hitlery’s plan to increase marginal tax rates would reduce “incentives to work, save and invest,” and would make the tax code more complex. Where’s the incentive to work when you’re forced to hand over nearly half of what you make to the government?
So I guess my question to Hitlery, and Bernie as well for that matter, would be, why bother to stop at just a Trillion? I mean why not simply go straight to the end-game that all leftists really want and raise all taxes to 100%. That way the government could simply collect ALL of the money generated by our labor and then dole it out however they please. Want to buy a car? Nope, sorry. For that you have to work another month. Oh, and by the way, just so you know, that won’t leave you with enough money to buy food, so make sure you choose wisely.
And why is it that the Democrats seem to be completely unable, or unwilling, to approach our growing fiscal problems from a position of reducing our insane level of spending? One would almost think that they are purposely trying to drive this country into bankruptcy. But that’s not possible, right? What could anyone hope to accomplish by doing that? Do those in the Democrat Party hate America that much, is their hunger for power that strong? But it’s after seeing how the party has now tilted so sharply to the left that that’s the only conclusion I can come up with.