A recent thread sparked my interest in writing a new thread about the ridiculous amount of taxes imposed on people in the US and worldwide.
VIEW THREAD HERE
In the US, on a Federal level we have a few different types of taxes imposed on the population.
Federal Income Tax
Social Security Tax
Estate, Gift Taxes
Employment Taxes
Excise Taxes on Tobacco, Fuel etc.
On state and local levels we have other Taxes
State income taxes
Property Tax
Local Project Levies
Sales Tax
among others... Most areas differ by a few degrees
Also, there are other taxes levied on citizens that are unseen, but not unnoticed. Inflation itself is a tax, in that, it takes away a percentage of
the value of money from the people who work for it. What is sinister about this tax is that when the new money is loaned to banks, the banks get full
use of the value of the money, while the people (you and me) have to deal with the lag period between the inevitable raising prices and the wage rate
increase.
Let me break this down.
1. Banks and the Government get full use of new money
2. After its initial use, the price of goods goes up
3. Regular people have to deal with higher prices during the period of time that wage rates have yet to increase in proportion to inflation
4. By the time wage rates have met with price increase, the whole process is already started over and rinse and repeat.
Another form of Taxation is future tax. With this, I mean that the Government is using the promise of future prosperity to leverage funds (borrow). So
quite literally, the government is imposing a tax to be administered some time in the future in order to pay back these funds.
This method of fund raising has one very disturbing reality. Your children are born owing money. This is like ones parents using the estimated future
equity of the holdings of their children in order to gain collateral for their mortgage.
Imagine what would happen if you went to a bank and tried to get a loan using someone else' home as collateral without their consent.
It seems the Government of the USA is trying to find every excuse to levy money and property from the citizen and it is not going away. In military
terms, it is called mission creep. This is when the mission grows larger and longer as accountability is lost(remind you of any current military
action?).
As far as US Taxes, I know quite a bit. I invite all people living outside the US or people that have lived outside the US to elaborate on their tax
system. I have to go at the moment, but I will be on later.