Monday, April 15, 2013

100th Tax Day

Today is the deadline for paying your income taxes and it's also the 100th tax day since the 16th Amendment creating the income tax was ratified by the states...

What were they thinking?!

You and I well know that how much income tax the government *needs* is never, ever, ever going to reach the level of "enough" ... they will continue to always need *more* ... and we'll have to pay - one way or the other.

Grover Norquist, president of Americans for Tax Reform, had this to say:

"...taxpayers should beware of “Trickle Down Taxation” the promise that today’s tax hike will be only on the rich. That is how they sold the income tax. It was a one percent tax on those earning more than $100,000 in today’s dollars and up to, hold your breath, seven percent on those earning more than $11 million dollars in today’s dollars. Now more than half of Americans are hit by this “tax on the rich” and the lowest rate of 10 percent is higher than the highest rate promised by the politicians in 1913. The Alternative Minimum Tax now hitting millions was originally targeted to hit just 155 individuals. Phone taxes were once taxes on the few who owned phones. Ditto cell phone taxes."

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