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Aug 31

Americans now spend more on taxes than on food and clothing combined

America rose to prosperity, abundance and prominence with some of the world’s lowest taxes and the fewest regulations. Property rights and a climate of individual ingenuity and industry brought Americans the world’s highest standards of living.

But the past two generations have seen America’s progress arrested. Now taxes take almost half of many Americans’ income. See here.

“From 2013 to 2016, overall personal taxes climbed from $7,432 to $10,489—an increase of $3,057 or 41.13 percent. Federal income taxes climbed from $5,743 to $8,367—an increase of $2,624 or 45.7%. State and local income taxes climbed from $1,629 to $2,046—an increase of $417 or 25.6 percent. Other taxes climbed from $60 to $75—an increase of $15 or 25 percent.”

Today’s government employees live like kings among peasants. The largest homes in many communities belong to government “workers.” Casinos and entertainment resorts are now filled with money-gorged government “workers” who spend their lives wrapped in luxury and privilege.

Meanwhile the American people are increasingly living in trailer parks and hovels. GDP growth rates have generally been below 3 percent over the past decade.