With almost half of all Americans owing no Federal Income Tax in 2009, who will remain to pick up the tab for our government’s unbridled spending? For politicians a trillion has now become the new billion. And amazingly, the number not paying tax isn’t shrinking; it’s growing rapidly. About a quarter of “taxpayers” will have a net liability of zero, including Medicare and Social Security taxes, according to a report on CNN Money.
There is growing concern from a few in DC, and which is more widespread among economists and other non-politicians, that many of our “leaders” are ignoring the long-term consequences of shifting the tax burden to higher income individuals. As new government programs are announced, and as spending escalates, we could soon reach a “tipping-point” from which it will be difficult if not impossible to retreat. Faced with growing deficits, politicians always look to the easy route and raise taxes, ignoring the more difficult, but necessary choice, that government spending must, at some point, be curtailed.
Many would enjoy an easy life, a Shangri-La, unencumbered by the drudgery of work, with all of our needs addressed by a compassionate and benevolent government; but the stark reality is that government cannot continue to absorb an increasing number of our personal responsibilities, cannot keep us all from harm, and cannot anticipate our every need. Life isn’t fair—never was and never will be—and government spending cannot make it so.
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