The Federal Government Has Collected Over $2.8 Trillion in Taxes in the Last 11 Months!To be more specific, the Federal Government has taken $2,883,250,000,000 from hard working Americans in the last 11 months.
When we talk about taxes here in America, we tend to talk about tax rates and percentages. Very rarely do we talk in terms of actual dollar figures. Thankfully this is the one area of Government that is actually transparent. Each month the Treasury publishes what’s called the Monthly Treasury Statement where you can view a complete breakdown of what the Treasury has collected for the current calendar year. As cnsnews.com explains, that number has reached well over $2.8 trillion in just the last 11 months!
Let me break that down one more time so you know you are reading this correctly:
That’s approximately $19,346 for every person in America who has a full-time or part-time job. So now that we are talking specifics and not just rates and percentages I would like to propose a few questions for you to think about this week:
1) How is the Federal Government still spending more money than it’s taking in?
According to the report from cnsnews.com, the Federal Government still spent $530 billion more than what it took in during that same time span. In other words, even though they were able to collect over $2 trillion, they still managed to overspend that amount in the same time frame. By $530 billion! The website NationalPriorities.org does a great job breaking down the 2015 budget so you can see specifically where all that money is going. It’s really eye-opening. Here’s an infographic they put together that gives you a basic idea.
The solution to this is simple. It needs to be illegal for the Federal Government to spend more than it takes in for the current calendar year. Period.
2) Shouldn’t this be enough to “fix” the economy?
According to Progressives, big Government solves all of our problems. If this were the case, shouldn’t $2 trillion in tax revenue give the Federal Government enough to fix our economic situation? Those on the American Left constantly cry for the wealthy to “pay their fair share” as if it’s supposed to solve some kind of economic problem. Well now thanks to President Obama, the wealthy are now officially paying their “fair share” and it doesn’t appear to be helping the economic situation at all. The Federal Government has still found a way to spend more and more, the more it takes in.
Meanwhile over 20 million people remain unemployed in the United States. And that’s according to very conservative calculations.
3) How much could the economy grow if Americans were able to keep half of this money?
Our Federal Government is taking this $2 trillion away from hard working Americans who quite frankly, would naturally spend this money much more wisely if they could keep it. Think of all the incredible things Americans could do if they could keep just half of this money:
- Invest in the Stock Market
- Hire more people for their small business
- Start new businesses
- Go on more vacations
- Buy more property (homes, cars etc.)
- Save for a rainy day etc.
Just imagine the economic growth that would occur in this country if America could keep half of this $2.8 trillion. The possibilities are literally immeasurable.
4) Do we really have a “Jobs” problem in this country?
I pose this question to you because itis election season. The Primary elections are beginning and underway, and politicians love to boast about how their plans will magically save America and give us millions of new jobs. Is a lack of jobs really the problem with our economy today? Of course it’s A problem but is it THE problem?
I would suggest that government is THE problem. Specifically, their overspending of tax dollars and their overtaxing of the everyday American. We need more politicians who will focus on the overspending problems in Washington. We need more politicians who will focus on lowering taxes and simplifying the tax code so Americans stop getting overtaxed.
5) Why wouldn’t $1 trillion be enough?
Let’s imagine a scenario for a minute. Imagine 12 months ago, prior to this 11-month timeframe that I am talking about in this Op-Ed, that tax rates were cut in half across the board. Imagine the headline in the news… “Tax Rates Have Been Cut In Half!” Imagine the excitement. Imagine the uproar and anger from Progressives.
Now fast forward to today. The Federal Government would have collected $1.4 trillion in tax revenue from Americans. $1.4 trillion! Wouldn’t that be enough? Shouldn’t that still be enough to cover the expenses of running the Federal Government?
If not… why in the hell not?