Friday, May 15, 2009

$8798 per Taxpayer to Payoff Deficit

Last month the nonpartisan Tax Foundation published their annual survey about taxes and the budget deficit. The amount of deficit per taxpayer is currently $8798, a 400% increase in two years. From pages 7 & 8 of their report (emphasis added):
Americans were asked again this year if they would be willing to pay their share of the budget deficit in order to balance the budget. While in 2007 this figure was only $1,789 per individual tax return, this year that number has ballooned to $8,798 because of the bailouts and the Troubled Asset Relief Program under the Bush Administration, as well as the stimulus and fiscal year 2009 omnibus spending bills under the Obama administration. Only 6 percent are willing to pay the additional $8,798 in federal taxes to eliminate the deficit; 81 percent are unwilling.

To those who said they were willing to pay higher taxes to cut the federal deficit, we asked a follow-up question: “If you paid that extra $8,798 in additional taxes, how do you believe today’s Congress would use it?”

Just under half of respondents (48 percent) believe that the government would use the money to increase spending and not pay off the deficit, while only 17 percent believe the government would use it to pay off the entire deficit. Just under one-third of respondents (32 percent) believe the government would pay off part of the deficit and increase spending with the rest.
Half the people willing to pay the additional amount don't even believe the government will use it to reduce the deficit. Then why the hell bother?

$8798 of debt per tax payer. According to Wikipedia, the average household income in the US is just over $50,000. A married couple with two kids and income of $50,000 pays about $3,200 in payroll and income taxes, a little more or less depending upon the state (in Michigan it would be $3,170). A married couple with no children pays around $6,600 and a single person pays $9,000. $8,798 represents a 100% to 300% increase in the tax rate to pay off the deficit.

I'm repeatedly told this is the best country in the world and this is the best government possible. But look at the results! This is the best? $8798 of debt per taxpayer. Every time I state the government should be abolished, I get idiotic questions such as, "Who'd educate the children?", "Who'd pave the roads?", "Who'd stop crime?", "Who'd feed the poor?". WHO THE HELL CARES!! It's time for those advocating for this "great" system to start actually providing rational justification for it. Not only would those things be provided in anarchy, it wouldn't cost an average of $9,000 in tax and $8,800 of debt.

1 comment:

  1. What stood out to me in that report was the phrase "THEIR SHARE of the budget," as though we all willingly agreed to the bailouts, etc.

    "Half the people willing to pay the additional amount don't even believe the government will use it to reduce the deficit."
    Can't even think of how to respond to that... ?!