A Quote by Simon Black
Americans of all ages are earning less than they did two decades ago when adjusted for inflation. Yet they’re paying more in taxes.
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Adjusted for inflation, somebody going to college today to a state university, is paying about 300 percent of what her mom or dad did just 30 years ago.
Every time the Fed implements 'quantitative easing,' a.k.a. printing more money, two things go up: taxes and inflation. When taxes and inflation go up, more jobs are lost.
I've never had it so good in terms of taxes. I am paying the lowest tax rate that I've ever paid in my life. Now, that's crazy. And if you look at the Forbes 400, they are paying a lower rate, accounting payroll taxes, than their secretary or whomever around their office. On average. And so I think that actually people in my situation should be paying more tax. I think the rest of the country should be paying less.
While most of today's jobs do not require great intelligence, they do require greater frustration tolerance, personal discipline,organization, management, and interpersonal skills than were required two decades and more ago. These are precisely the skills that many of the young people who are staying in school today, as opposed to two decades ago, lack.
Popular culture, on average, has been growing more cognitively challenging over the past thirty years, not less. Despite everything you hear about declining standards and dumbing-down, you have to do more intellectual work to make sense of today's television or games - much less the internet - than you did a few decades ago.
When a business or an individual spends more than it makes, it goes bankrupt. When government does it, it sends you the bill. And when government does it for 40 years, the bill comes in two ways: higher taxes and inflation. Make no mistake about it, inflation is a tax and not by accident.
God forbid that Americans earning, say, more than $1 million a year be asked to pony up a little more in taxes to support a larger military at a time when, we are told over and over, the country is in the middle of a war on terror. Millionaires can't be asked to sacrifice even just a little bit. No, they deserve to have their taxes cut while others fight and die.
In Britain, journalists often view comparisons with our society going back two, three, or seven centuries as more relevant than comparisons going back two, three, or seven decades. Drunkenness centuries ago is more illuminating than comparative sobriety 30 years ago. The distant past, selectively mined for evidence that justifies our current conduct, becomes more important than living memory.
That our popular art forms have become so obsessed with sex has turned the U.S.A into a nation of hobbledehoys; as if grown people don't have more vital concerns, such as taxes, inflation, dirty politics, earning a living, getting an education, or keeping out of jail.
Most Americans are on a downward escalator. Median wage in the United States, adjusted for inflation, keeps on dropping.
Less is always more. The best language is silence. We live in a time of a terrible inflation of words, and it is worse than the inflation of money.
Most people don't know this, but if you settle a debt for less than the amount you owed, you are potentially responsible for taxes on the forgiven debt. Look at it this way: You received goods and services for the full amount of debt, but you're only paying for a portion of it - sometimes less than 50%. Anything more than $600 is generally considered taxable, but the IRS will sometimes waive the tax if you can prove that your assets were less than your liabilities when the debt was settled.
Because food and energy prices are volatile, it is often helpful to look at inflation excluding those two categories - known as core inflation - which is typically a better indicator of future overall inflation than recent readings of headline inflation.
Americans spend much of their adult lives paying taxes in various forms. We should end this practice of paying a tax that is triggered only by debt.
These Americans are among the working poor with full-time jobs earning $5.15 an hour. Millions fall into this boat, even more when you consider that the poverty line has not been adequately adjusted to reflect the true level of poverty in this country.
The generosity of the super-rich is sometimes proffered as evidence they're contributing as much to the nation's well-being as they did decades ago when they paid a much larger share of their earnings in taxes.
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