Thursday, April 15, 2010

This might be our last, best tax day ever...

April 15, 2010
Colorado, USA

Tax Day

Yes, it's tax day. The sun is shining, the birds are chirping, people are stopping by the post office - at least the people who are paying taxes are at the post office. The rest of the world - let's say those who are not paying taxes - are happily going about their way without a care in the world -- never mind the burden they place on the rest of us. Mark the day with care... this might be our last, best tax day ever...
Update: Read this brief article

[snip] For just over half of all Americans today is Tax Day. But for the other half it is just another day on the calendar. That’s because they pay no federal income taxes. The old saying goes “you can’t get something for nothing.” But these “non-payers” receive government services and benefits without chipping in.

If more taxpayers continue to drop off the tax rolls, we will soon pass the dangerous tipping point where more than half of taxpayers are non-payers. The individual income tax is the main revenue raiser for federal government. Passing the point where less than half of taxpayers pay it would mean a majority of voters could vote themselves more and more government benefits without incurring any of the costs. In this unstable situation, politicians would have no incentive to restrain government spending since they could garner more votes by increasing it. That is a deadly recipe for never-ending increases in government spending that will inevitably lead to fiscal implosion when there are no longer enough productive taxpayers to foot the bill for the expanding state.

See link below for rest of the article.

Source: Heritage, Morning Bell: How Tax Day Became Payday

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