If this keeps up we really will have an economic recession. Then the liberals can use it to elect Obama or Clintoon and make it look like it's the fault of republicans.
The cumulative and incremental increases in taxes are hurting us all.
I wonder how much the average household pays in total taxes? We know federal tax rates are from 15% to 28% I think it is, on wages and salaries? Then you have to add in 7.65% FICA withheld, and also your employer pays that same 7.65% on your behalf. Then there are proerty taxes, sales taxes (in some cases, states and local gov’ts have their own sales taxes), state gasoline tax, federal gasoline tax, and so on.
Then, any retail purchase you make involve hidden taxes. Any taxes imposed on the business you are buying from is a cost of doing business for that company. So the retail price of whatever you buy is higher because of the business passing along their costs to the customer.
The total burden on the economy of taxes and government regulation is probably much higher than we think.