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Devious Taxation

ModusTollens Wrote: Apr 26, 2012 10:54 PM
Normally Dr. Williams' articles are much clearer than this (except for his strange facination with smoking regulations). Maybe a bad week?
The Washington, D.C.-based Tax Foundation does a yeoman's job of keeping track of how much we're paying in taxes and who's paying what. It turns out that American taxpayers worked this year from Jan. 1 to April 17, 107 days, to earn enough money to pay their federal, state and local tax bills. That statistic requires some clarification, and I ask my readers to help me examine it.

According to the Congressional Budget Office, Congress will spend $3.8 trillion this year, about 24 percent of our $15 trillion gross domestic product. But federal tax revenue will be much less, only $2.5 trillion,...