Friday, January 27, 2012

Taxes

It is beyond sad when the (ever so eloquentleader of the free world (in between stuttering, stammering, and mumbling) invokes class warfare and attempts to divide the constituency he claims to represent by purporting all of our problems would be solved by higher tax rates.  Assuming the world would be a better place if only the federal government had more power and more tax dollars from the 53% of Americans currently paying income taxes is naïve to the extent of utter foolishness.  It is true that much of the 47% (not paying income taxes) do pay into programs such as OASDI, RSDI, FICA / SECA, MediCARE, and MedicAID; commonly and incorrectly referred to as "payroll tax".  However, the payroll tax is not a tax at all, despite what your increasingly tyrannical government claims.  The following programs, that constitute the "payroll tax" are either insurance, savings, or retirement/pension programs.  Therefore one does not pay "taxes"; one would pay premiums, make deposits, or contributions respectively.


- OASDI - Old-Age, Survivors, and Disability Insurance

- RSDI - Retirement, Survivors, and Disability Insurance

- FICA -  Federal Insurance Contributions Act

- SECA - Self Employment Contributions Act

- MediCARE - health insurance for the people 65 or older, people under 65 with certain disabilities, people with end-stage renal disease.

- MedicAID - health insurance for lower-income people, families and children, the elderly, and people with disabilities.


After all this social engineering and central planning is sorted out, one might inquire who bears the burden of federal taxes.  From the Daily Capitalist / National Taxpayers Union:


If anyone wishes to pay more in taxes, they can do so voluntarily.  One should brace themselves for the hilarity of the Teleprompter in Chief to resume claiming (lying) he has cut taxes.

1 comments:

Patrick Odea said...

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