Thread: A nifty link about taxes

Tracking taxes: A look back at tax rates and spending

Use the interactive below to enter your salary and see how tax rates and spending priorities have changed over time. To learn more about this graphic and basis for our calculations, please read the text below the interactive.

From USA Today



Click here for an interesting interactive link that shows how your tax money is divided up and how taxation has changed over the last 70 years

[quote name='Disappointed not surprised' date='12 March 2010 - 09:39 AM' timestamp='1268415564' post='128401']

From USA Today



Click here for an interesting interactive link that shows how your tax money is divided up and how taxation has changed over the last 70 years

[/quote]

Here is a better link, your taxes pay the Federal Reserve, and nothing else.

January 15, 1984. Available from the Congressional Research Service.

The excerpt below can be found on page 12.



"Importantly, any meaningful increases in taxes from personal income would have to come from lower and middle income families, as 90% of all personal taxable income is generated below the taxable income level of $35,000.



Further, there isn't much more that can be extracted from high income brackets. If the

Government took 100% of all taxable income beyond the $75,000 tax bracket not already taxed, it would get only $17 billion, and this confiscation, which would destroy productive enterprise, would only be sufficient to run the Government for several days.



Resistance to additional income taxes would be even more widespread if people were aware that:



With two-thirds of everyone's personal income taxes wasted or not collected, 100% of what is collected is absorbed solely by interest on the Federal Government contributions to transfer payments.



In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their government."