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Commentary: Why your taxes could double
CNN ^ | Wed April 15 | David M. Walker

Posted on 04/18/2009 6:47:45 PM PDT by Leisler

Even under the best of economic circumstances, tax season is a tense time for American households. The number of hours we collectively spend working on our returns is probably a lot more than government agencies claim.

The burden in financial terms is even greater: A recent independent survey found that the average American's total federal, state and local tax bill roughly equals his or her entire earnings from January 1 up until right before tax day.

Now imagine that tax bill doubling over time......

(Excerpt) Read more at cnn.com ...


TOPICS: Constitution/Conservatism; Crime/Corruption; Culture/Society; Government
KEYWORDS: bho44; bhotaxincrease; obamanomics; obamunism; taxation
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David M. Walker served as comptroller general of the United States and head of the Government Accountability Office from 1998 to 2008. He is now president and CEO of the Peter G. Peterson Foundation.
1 posted on 04/18/2009 6:47:46 PM PDT by Leisler
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To: Leisler

This is what caused the 1st Depression.


2 posted on 04/18/2009 6:48:54 PM PDT by DownInFlames (C)
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To: Leisler

Mine won’t. Because if it increases anywhere near that much, I quit pulling the wagon and hop on.


3 posted on 04/18/2009 6:49:50 PM PDT by Kozak (USA 7/4/1776 to 1/20/2009 Requiescat In Pace)
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To: Leisler

If Americans had to write a check each month for their taxes this country would be a vastly different place.


4 posted on 04/18/2009 6:50:04 PM PDT by TheZMan ("I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve.")
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To: DownInFlames

Look for more murder suicides to happen thanks obama


5 posted on 04/18/2009 6:50:44 PM PDT by al baby (Hi Mom)
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To: Kozak

I’ve been saying for twenty years, “Accelerate the Revolution, become part of the problem.”

It will be quicker and easier to crash this country than rebuild it.


6 posted on 04/18/2009 6:51:25 PM PDT by Leisler ("It is terrible to contemplate how few politicians are hanged."~G.K. Chesterton)
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To: TheZMan

I do it quarterly its the biggest ck i right


7 posted on 04/18/2009 6:51:27 PM PDT by al baby (Hi Mom)
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To: Leisler

“To help put things in perspective, the Peterson Foundation calculated the federal government accumulated $56.4 trillion in total liabilities and unfunded promises for Medicare and Social Security as of September 30, 2008. The numbers used to calculate this figure come directly from the audited financial statements of the U.S. government.”

And, it seems, he is simple. What audited financial statements?


8 posted on 04/18/2009 6:56:47 PM PDT by patton (Oligarchy is an absorbing state in the Markov process we find ourselves in. Sigh.)
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To: al baby

Add in all the other taxes like sales, gas and tax on utilities etc. People don’t realize just how much they pay.


9 posted on 04/18/2009 7:00:04 PM PDT by DJ MacWoW (Make yourselves sheep and the wolves will eat you. Ben Franklin)
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To: DJ MacWoW

And people think wow i got a tax refund they think its free money idiots it was theirs to begin with


10 posted on 04/18/2009 7:01:59 PM PDT by al baby (Hi Mom)
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To: Leisler
"bear in mind that no matter how much you're paying now, you'll pay much more in the future"

This from CNN: The network that made so much fun of the Tea Party Tax Protesters?

11 posted on 04/18/2009 7:03:03 PM PDT by ChicagahAl (Don't blame me. I voted for Sarah.)
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To: al baby

Yup. It’s like that CNN bimbo telling the guy he gets $400 back. They took it and gave it back to him. Isn’t that nice? What she didn’t tell him was how much they kept.


12 posted on 04/18/2009 7:05:33 PM PDT by DJ MacWoW (Make yourselves sheep and the wolves will eat you. Ben Franklin)
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To: Leisler

What does this guy know? I’m listening to people like Keith Olberman and Janeane Garofalo for my economic information. They say our complaints about out of control spending is straight up racism. And people with their credentials certainly know more than this doofus. Besides, Janeane Garofalo knows lots of big words, like limbic, so she must be really smart....

(Please don’t make me write /s)


13 posted on 04/18/2009 7:05:35 PM PDT by erkyl (We hang the petty thieves and appoint the great ones to public office --Aesop (~550 BC))
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To: DJ MacWoW

roughly 54 percent of every dollar pays tax...

http://www.nowandfutures.com/taxes.html

and OBAMA WANTS TO RAISE IT MORE>>>>>>>>>>>>

YES HE CAN, Oh YES HE CAN....


14 posted on 04/18/2009 7:17:06 PM PDT by Typical_Whitey (Obama has made US sitting ducks.)
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To: al baby

“more murder suicides”

Like here? A few minutes ago.

http://www.freerepublic.com/focus/f-chat/2232515/posts


15 posted on 04/18/2009 7:22:40 PM PDT by dynachrome (Barack Hussein Obama yunikku khinaaziir)
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To: Leisler
It will be quicker and easier to crash this country than rebuild it.

Who is John Galt?

prisoner6

16 posted on 04/18/2009 7:27:19 PM PDT by prisoner6 (Right Wing Nuts hold the country together as the loose screws of the Left fall out.)
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To: Kozak
I quit pulling the wagon and hop on.

More and more people are saying that.. Why should we bother busting our butts for nothing.
17 posted on 04/18/2009 7:27:49 PM PDT by divine_moment_of_facts ("Hey Liberals.. We don't lower our standards, so up yours!" - Andrew Wilkow show)
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To: Typical_Whitey

Yes he will!


18 posted on 04/18/2009 7:31:45 PM PDT by DJ MacWoW (Make yourselves sheep and the wolves will eat you. Ben Franklin)
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To: divine_moment_of_facts

“I quit pulling the wagon and hop on.

More and more people are saying that.. Why should we bother busting our butts for nothing....”

Add me to the list...I’m already on DHS’s for going to Wednesday’s tea party so whats one more...
Matter of fact, I’m only going to work 6 month this year. After doing my taxes this past week, I’m NOT going to support obongo or his minions. I’ll just quit working after June 30th, I work in the petrochem industry as a manager...and oh, BTW, there are several more in my group that feel just like I do. If one of us leaves, the rest will probably follow suit.


19 posted on 04/18/2009 7:41:51 PM PDT by lgjhn23
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To: Kozak

LOL I like your statement.

Just thinking what if bazillions and bazillions went to the streets
because they became homeless and/or couldn’t pay taxes?
Looks like it will come to that.


20 posted on 04/18/2009 7:48:28 PM PDT by TribalPrincess2U (Welcome to 0bama's America... Be afraid, be very afraid)
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