LP.org: ‘Slash federal spending to make Tax Day less painful’

LP MEDIA RELEASE: Slash federal spending to make Tax Day less painful
 
For the 56 percent of Americans who pay federal income taxes, April 17 will be a painful day. That pain may be lessened slightly because the Internal Revenue Service has been nibbling away at payroll withholding taxes, but the sad fact is that the income tax represents only a portion of the pain we actually experience.
 
In 2017, the feds spent $4.147 trillion, which amounts to $12,733 for every man, woman, and child in the country. All taxes combined brought in $3.481 trillion, which leaves a deficit of $666 billion. If that deficit were to be equally split on a per capita basis and paid through income tax, we’d each end up paying an additional $2,045. If equally split among the 56 percent who actually pay income taxes, the tax increase would average $3,651 per person. Instead, we’re ultimately paying for the deficit through inflation.
 
“Clearly, the United States does not have a revenue problem,” said Libertarian National Committee Executive Director Wes Benedict. “It has a spending problem. The Democrats and Republicans refuse to address this addiction to spending. The best they can do is blather about waste, fraud, and mismanagement. Only Libertarians are willing to name exactly what kinds of federal government spending should be cut.”
 
 
 

4 thoughts on “LP.org: ‘Slash federal spending to make Tax Day less painful’

  1. Anthony Dlugos

    How’d this heresy from the April 11 press release slip past the Pharisees?

    “The economic evidence is clear, however, that immigration expands our economy and brings new wealth and innovation. The ratio of workers to retirees has also changed, thanks to demographic changes such as longer life spans and fewer children, which endangers the retirement security of our elderly population. Allowing widespread immigration of working-age people not only boosts the economy in general, ***it would also help ameliorate the chronic underfunding and bankruptcy of both PUBLIC and private pensions*** and retirement funding programs.”

    https://www.lp.org/celebrating-libertarian-ideas-declaration-independence/

  2. DJ

    Income tax is a usury fee- wonder why politicians and the media don’t call it what it is?
    State and local property taxes and registration ‘fees’ and licensing are but lease agreements.
    Why do politicians, aided by a complicit media, intentionally misinterpret?

    Inquiring minds want to know.

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