So, you pay too much in taxes?

Social media is inundated with rants against taxes. It’s stealing some say, don’t pay taxes others urge. Don’t tax me, tax others. Seniors deserve more special tax treatment. The wealthy don’t pay their fair share we are told.

No doubt some of this is the result of the declarations made by Musk and DOGE, exaggerated and false as some are. The reality is DOGE will not find anything that will change your taxes by one penny.

Even if Musk achieved his fantasy goal of saving (much a one shot deal) $1 trillion, it is only one half the federal annual deficit of $2 trillion which is still growing.

There is no responsible way to lower taxes in the foreseeable future.

2022 data

Yes, there are also payroll taxes at 7.65% but even that doesn’t change the picture significantly and unlike income taxes, FICA funds a direct benefit to the individual. Also, Social Security disproportionately benefits lower income workers.

2 comments

  1. AL LINDQUIST

    Per usual that was great Jack–of course the solution to the problem s more spending, or raise taxes, or both. The clowns you refer to will, no doubt, tell us they will solve the problem they created.

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  2. Yes, I pay too much – when you add it all up.

    Congress buys votes two ways – by exempting 45+% of Americans from paying income taxes, and by taking taxes from the rest of us to dole money out for votes.

    Unfortunately, it has gotten so bad that no one is laughing anymore:

    As Mark Twain once said:

    “We have the best government that money can buy.”

    “Politicians and diapers must be changed often, and for the same reason.”

    “Suppose you were an idiot, and suppose you were a member of Congress; but I repeat myself.”

    “It could probably be shown by facts and figures that there is no distinctly native criminal class except Congress.”

    “No man’s life, liberty, or property are safe while the legislature is in session.”

    “Just as an honest man in politics shines more than he would elsewhere.”

    “The political and commercial morals of the United States are not merely food for laughter, they are an entire banquet.”

    “Fleas can be taught nearly anything a congressman can.”

    “Imagine, if you will, that I am an idiot. Then, imagine that I am also a Congressman. But, alas, I repeat myself.”

    But, while Samuel Clements was funny, my favorite for poking fun at our government was Will Rogers:

    “I don’t make jokes. I just watch the government and report the facts.”

    “There’s no trick to being a humorist when you have the whole government working for you.”

    “Every time we see a bridegroom we wonder why she ever picked him, and it’s the same with public officials.”

    “The trouble with practical jokes is that very often they get elected.”

    “Our public men are speaking every day on something, but they ain’t saying anything.”

    “A fool and his money are soon elected.”

    “The more you read and observe about this politics thing, you got to admit that each party is worse than the other.”

    “Those who complain about the high cost of government should be glad we’re not getting all the government we’re paying for.”

    “With Congress, every time they make a joke it’s a law, and every time they make a law it’s a joke.”

    “Never blame a legislative body for not doing something. When they do nothing, that don’t hurt anybody. When they do something is when they become dangerous.”

    “I don’t want to complain, but every time they build a tax structure, the first thing they nail is me.”

    “If you make any money, the government shoves you in the creek once a year with it in your pockets, and all that don’t get wet you can keep.”

    “The only difference between death and taxes is that death doesn’t get worse every time Congress meets.”

    “About all I can say for the United States Senate is that it opens with a prayer and closes with an investigation.”

    Thought we could all use a good laugh – it is Friday, the weekend.

    Jack

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