Friday, August 12, 2011

The IRS borrows 40% of its income!

I got this pie chart from irs.gov:


I was looking to see if the SS taxes were still making up over 40% of government income. It turns out they are down to only 25%! But if you take out the 40% of borrowed income then the SS Taxes still make up over 40% of "actual" government income. That is to prove that almost half of their income is from people making less than $250K. In fact any income over $110K is now exempt from the SS tax! More proof they tax the poor to pay the rich....

But take this a step further, how many years can I borrow half of my income before the interest on that borrowing exceeds my income???  The same thing applies to the IRS.  This borrowing without limits is totally insane!!  They must immediately balance the budget, and that balancing must not only include paying the interest on the debt, but the debt should be paid down at about 10% per year, 5% per year as a minimum!!

Also note that "Social Programs" and "community development" make up 35% of government spending. This must immediately "Cease and Desist".  The law does not allow the feds to spend money on these!
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