It is pretty obvious why we pay taxes right? However, there seems to be a constant debate across the country on the subject. It is pretty basis to understand as a country we have expenses and our federal, state and city taxes are used to cover those expenses, right? Why the debate?
The questions that come to mind are the following:
- What is the current debt of the United States and who are the debtors?
- What is the expense distribution for Federal Taxes in the United States?
- What is the primary expense distribution for State Taxes in the United States?
- What is the primary expense distribution of taxes in major cities of the United States?
- What is the distribution across the United States of those who pay federal income taxes?
- What are the future implications of continuing to be in debt as a country?
What it all adds up to is the cost of a life style we have become accustom to in the United States. It is the financial contribution we make for the freedoms we have and the amenities that go along with it. However, the cost of living as a country continues to rise as a part of the world economy and our taxes are only a portion of the revenue required to fuel it. This is not to say that continuing to be in debt and living outside our budget is the right long term strategy but it is the reality of our current situation as a nation.
Saturday, October 2, 2010
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