Obama's Global Poverty Act (S. 2433) would commit the U.S. to spending $845 billion over and above what the U.S. already spends.
845,000,000,000 over a 15-year period.
150,000,000 workers in the USA, that's just a guess.
Comes out to be $8 per week, for 15 years per worker in the USA.
Now that's on top of the taxes we already pay.
Now if we take and tax a commodity of some kind, then only a small percentage of the people carry the burden of feeding the world.
What is the current average percentage we already pay out in taxes, isn't it like 15+% income and close to if not more than 20% sales, property, fuel and other taxes. Not to mention state tax 5% and 1% school tax. Your looking at 41% of you annual income goes to pay tax. People in the higher tax brackets are paying 50%.
When is enough enough. Sound familiar?
Over the next 15 years all the other taxes are going to increase also, federal tax, school tax, fire and police levys, sales tax and not to mention the cost of living is going up. Did I forget fuel prices. Shot fire. I guess we should work to pay taxes and let the government dish out welfare and housing to us.
Isn't socialism great!
It is impossible to start a small business anymore, too many tax, liability and state laws to deal with. So much for freedom.
Now am I right or wrong?
I hear you. I found two clips this week about David Walker (US Comptroller). We have to stop spending what we don't have.
ReplyDeletewww.urbanswirl.com/news/americas-financial-future-by-david-walker.html
Well, for starters, I think your math is wrong.
ReplyDeleteEight dollars per week times 52 weeks times 15 years is $6,240. That amount times the alleged 150 million workers is $936 billion, almost $100 billion off.
Second, that's not exactly how it works. You wouldn't really be paying $8 a week (or about $7 if you do the math correctly). As you noted, some people pay higher taxes than others. The government also gets revenue from other sources.
Also, your tax estimates are way too high. I think the average person spends about 20-25 percent total on taxes (federal/state/sales/etc.). Of the tax money you send to Washington, 1 percent of that goes to "non-security international" funds, which include foreign humanitarian aid. So if the average person makes $30,000 a year, they send about $6,000 per year to Washington in taxes. Of that, only 1 percent goes to all humanitarian aid, some of which includes eradicating poverty. So that's about $60 a year or $1.15 a week.
Now "if" the Obama bill passes and Congress allocates the full amount suggested under the Millennium Goals, we would increase a little, but surely not from $1.15 to $8. I'll have to look up the amounts but it would only be slightly higher.
I am in the 15% federal tax bracket.
ReplyDeleteOhio State tax is 6 or 7%.
Our School tax is 1%
I pay 1% for working Hebron
That puts me at 23 to 24% Before Sales, fuel, License's taxes. Cigarette, pop, Alcohol taxes.
Enough is enough, to hell with it take it all. I don't care.