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Three-quarters of Your Income Is Going to Taxes

Posted June 11, 2008

“I’ve paid into the social security monstrosity since 1963… Anyone want to give odds as to whether I’ll ever see some Social Security funds returned?” — Russell McDougal

by Russell McDougal, Investor’s Daily Edge

Baltimore – (TFN): Most likely your property values are falling. If your income is rising, it is likely due, in large part, to inflation. Inflation is a result of the non-Federal non-Reserve stranglehold on the American populace. Are your property taxes falling in relationship to current plummeting real estate and real income rates?

Dumb question. The taxman shows zero mercy. If you build it, he will take it.

I’ve paid into the social security monstrosity since 1963. My initial wages were at $.25 per hour. It’s been a LOT of labor. Pedaling newspapers, washing dishes, cleaning swimming pools, mopping floors, raising 4-H beef, changing filters in hot asbestos-filled attics, vaccinating chickens, driving trucks and sweeping floors in copper mines were all on the table. Anyone want to give odds as to whether I’ll ever see some Social Security funds returned?

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Add that to 30 some years of doing the dentistry thing and a guy can get a little tired. Dentists, in case you don’t know, have close to the highest divorce, suicide and alcoholism rates amongst the various careers. Sheesh.

Whaddya get for all these labors? Somewhere near 75 percent of all earnings go to taxes. I’m serious. Read on to learn more.

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Posted by TFN-Politics · Filed Under Politics 

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