Posted by Tina
It is indeed shameful that Americans on average paid more in taxes than we spent for food and clothing last year. The Bureau of Labor Statistics was cited in stories by CNS News and The New York Post:
…the average bill for federal, state and local taxes was $10,489.
By comparison, Americans spent $9,006 on food and clothes, with most of that going toward food. …
… the data showed that…the average tax bill rose 41 percent overall since 2013.
According to the BLS, federal income taxes rose from $5,743 to $8,367 in that period. State and local income taxes rose from $1,629 to $2,046.
This information is vital to understanding the need for tax cuts and tax reform. The American people are being squeezed by federal and state governments that are out of control and untrustworthy when it comes to their fiduciary responsibilities. It’s hurting the people, it’s hurting our nation, and it’s hurting our economy. The federal government and most states are deep in debt having established unsustainable social, retirement and healthcare programs. The stupidity that this cosmic error could be fixed simply by increasing taxes will not be lost by anyone that has lost a jobs or seen their income and buying power shrink as the economy slowed to a crawl during the sustained non-recovery. Our Golden Goose has been gutted by the greed and inefficiency of government.
President Trump is adamant that Congress must act to push through a tax plan this year. He made his pitch for reform at an event in Springfield, Missouri where he called on Democrats and Republicans to work together for the American people:
“…put the partisan posturing behind us and come together as Americans, to create the 21st century tax code that our people deserve,” he said. “What could possibly be more bipartisan than helping people keep more of what they earn?”
Indeed, what could be more American! America was founded on principles of individual freedom and responsibility. The entrepreneurial spirit of the American people is the stuff of legend. That spirit, along with the solid work ethic and amazing productivity of the people created a prosperous middle class the likes of which the world had never seen. We can accomplish that reality again by lowering tax rates and simplifying the tax code. As Trump said:
“It’s time to give American workers the pay raise that they’ve been looking for, for many, many years,”… “We need a tax code that is simple, fair and easy to understand.” … “I am asking every member of Congress, which we have many here today, to join me in unleashing America’s potential” … “It’s time to invest in our country, to rebuild our communities and to hire our great American workers.”
American businesses have already started doing their part by taking a leap of faith. They believe that our economy can grow at a much higher rate and workers will experience greater opportunity with promised tax relief from Congress. Breitbart Economics reports:
American factories accelerated in August at the fastest pace of expansion since 2011, data from the Institute for Supply Management showed Friday. …
… The monthly purchasing managers index rose 2.5 points to 58.8, reflecting employment rising to its highest level since June of 2011, an increase in production and rising inventories. Economists had expected a reading of 56.5. Any reading over 50 indicates growth.
It’s time for Congress to lower taxes across the board to set the American people free to work, to produce, to save and invest…and to climb the ladder of individual success and prosperity.