Sunday, March 28, 2010

More on U.S. Taxation

From 8/24/08 -
I can’t help but comment on an article in this weekend’s Wall Street Journal concerning how our government spends our money. Besides naming several governmental examples of overspending, the article states that according to a study by the Office of Management and Budget our government on average falls 39% short of meeting their financial goals.
For example, in 2008 the government will spend $2.7 trillion to provide us with only $1.65 trillion of benefit. But worse, this number of $2.7 trillion in cost is really covered up. According to the National Bureau of Economic Research and the Congressional Budget Office the number is actually double that or $5.2 trillion when the damage caused to the private economy by taxation is figured in.
The bottom line is we are forfeiting $5.2 trillion in exchange for $1.65 trillion in services.
Or, if you have a hard time thinking in trillions of dollars let me say it like a shop teacher. For every $1 we give the government we get 32 cents (1 quarter, a nickel and two pennies) of production. Maybe I could provide you with a couple of examples I can relate to:
Imagine buying a gallon of milk and spilling 2/3 of it on the way to the car.
Or, when you pump a $3.80 gallon of gas into your car squeeze the handle and spray the first $2.53 on the ground.
If you pay for a new home you only get the lot, the basement and part of the garage. The rest of the house was lost somewhere between Home Depot and the delivery location.
Why would we want to give the government more responsibility? Why would we want to give them anymore money? Why would a presidential candidate base their campaign on promises of starting more programs for us?
Watch and see. Our nation will demand more governmental services that will spill our milk, dump our gas and lose our houses.
We need a candidate who will say, “Let’s stop the craziness!”

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