November 17, 2006
Living to feed the government octopus is a prison sentence.
According to The Tax Foundation, it is estimated that average Americans would have to work 123 days to pay annual state, local and federal taxes. On average all Taxes eat up to 42% of our total income and that doesn’t include hidden taxes. Like gas, utilities, property & state taxes, hotel etc.According to the IRS Americans over pay $320,000,000 a year in excess taxes. The reason is they don't understand the tax codes and the many benefits that are available to them.Meanwhile, in New Jersey
The Legislature hopes to act quickly on the property tax proposals. Lawmakers said they hoped to begin drafting legislation based on the recommendations in the next few weeks and vote on them by the end of the year.
The Legislature hopes to act quickly on the property tax proposals. Lawmakers said they hoped to begin drafting legislation based on the recommendations in the next few weeks and vote on them by the end of the year.One closely watched aspect of the proposals was the plan to provide a 20 percent credit to most of the state’s homeowners. In New Jersey, where the average annual property tax bill is about $6,000 — the highest of any state and more than twice the national average — that would mean a savings of about $1,200.
The Legislature hopes to act quickly on the property tax proposals. Lawmakers said they hoped to begin drafting legislation based on the recommendations in the next few weeks and vote on them by the end of the year.One closely watched aspect of the proposals was the plan to provide a 20 percent credit to most of the state’s homeowners. In New Jersey, where the average annual property tax bill is about $6,000 — the highest of any state and more than twice the national average — that would mean a savings of about $1,200.The state would pay for the credit by abolishing current tax rebate programs, which cost about $1.1 billion, and pooling that money with more than $600 million in revenue from half a percentage point of the state’s sales tax.
For complete article go here: http://www.nytimes.com/2006/11/16/nyregion/16property.html?ref=nyregion Unfortunately, the talk about scaling back the size, depth and cost of government is not even whispered it seems. That is where economic profit incentives because of low overhead give rise to happier, less stressed out living. Living to feed the government octopus is a prison sentence.
Filed under Blog, News by George Bolton


















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