Taxes Are Most Costly For Those Who Levy Them
by Joel Hendon(755)
There is a strong principle involved in taxation which cannot be seen by many until they dig their own open grave. Although governments require some form of income to function, those which tax less and offer only the things governments are supposed to offer, prove successful, especially in the long haul.
Our nation currently owes almost eleven trillion, four hundred billion dollars. We owe that much, BUT, we have another quasi-debt in the form of unsecured monies amounting to somewhere between seventy trillion and one hundred trillion. Our Gross Domestic Product in 2008 was slightly over fourteen trillion dollars. It will be less this year. Now, consider if we spent nothing whatsoever, at this years rate, it would take us about 6 years to payoff our debt and reduce our unsecured monies to zero. That doesn't sound too bad does it? But our problem is, we will add to that total this year, around three trillion dollars. Instead of owing the eleven trillion we will owe fourteen trillion next year and still have the unsecured monies or more.
What this boils down to is that we cannot pay this debt. There is nothing in the foreseeable future that will even allow us to START paying on it. Obama hopes to cut the deficit spending in half by the end of his first term. In other words, he hopes we will only go in debt one and on-half trillion rather than the projected three trillion per year.
First of all, the taxpayers do not earn enough, to be able to pay in enough, to even balance our budget (stop our deficit spending). The only way it can be stopped is the government to spend less. That is not on this administration's mind at all. First, they want to continue to spend huge amounts of extra money. Second, they want to tax everything taxable and fine all companies which cannot reduce their carbon emissions. This will destroy this nation.
Let me explain the inspiration for my title of this article. Rhode Island has just proven a great point. It, like many other states, is finding itself in a money pinch and is trying to find a solution. Among their heavy agenda of unfinished business is a bill to place sales tax on certain online sales from within the state. That sound like a reasonable consideration doesn't it? All taxations sound that way but trouble lies ahead for all who try and resolve their financial woes simply by adding to the poor taxpayer's burden.
Amazon, gigantic online retailer whose primary existence is their online sales as well as their purchases. Following is a blurb taken from an article on projo.com:
PROVIDENCE –– The Internet giant Amazon.com has severed formal ties with all Rhode Island businesses, a move intended to shield the online retailer from the General Assembly's push to tax some online sales as soon as Wednesday.
An Amazon spokeswoman declined to say how many businesses –– local book dealers and other retailers - will be affected, but she confirmed that notification letters were distributed to "many local associates" early Monday morning.
"The government in Rhode Island is attempting to go about tax collection in what we feel is an unconstitutional manner," said the spokeswoman, Patty Smith.
This is a single incident...BUT, a rather expensive one for the little state of Rhode Island. The states, as well as the federal government must understand, or learn the hard way, that you can tax a nation to it's death. This incident will certainly not be the only one. When unbearable burdens are placed upon people, or businesses, they will do whatever is necessary to remove themselves from that bondage.
Our present government's views are terribly distorted and their majority power is causing them to leap into dangerous, muddy and untested waters. And many of our people are following blindly. I can assure you the next six months will bring to light, many of the hidden dangers under that muddy water. Everything will be taxed, The taxpayer will be unable to heat his home this winter, the GDP will drop to unprecedented levels which will add to our deficit.
Most of all, higher taxes on more items and higher interest rates, will worsen our economic dilemma, which in turn will ignite a vicious cycle, more borrowing, more taxations and more soup lines.
Webgazine Columnist.
Article submitted Tuesday, June 30, 2009 & read 62 times.
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