Top 10 most destructive government actions - Short Stack
Seriously WTF? Thats more than I make in a year given as freebies. WTF am I working again?
HIDDEN WELFARE COSTS. Welfare is not a category in the federal budget but the Congressional Research Service last catalogued it in 2003 as a $522 billion federally mandated state cost. Welfare is hidden in 86 different programs in six different cabinet agencies. Today, after inflation, it costs $700 billion a year, larger than Social Security or Medicare. It represents $65,000 for every poor family of four -- yet poverty increases each year, says the Census Bureau.
Seriously WTF? Thats more than I make in a year given as freebies. WTF am I working again?
7. FALSE TAX POLICIES. The personal tax exemption was $600 under Harry Truman. Today, after true inflation figures, it should be $8,400. But it is only $3,650. Thus a family of four loses some $20,000 in exemptions, and must pay an extra $5,000 taxes each year. Also the 1986 tax "reform" cut the tax rate from 35 percent to 28 percent but took away deductions for interest and sales tax. The maximum tax rate has been raised back to 35 percent but the deductions were never reinstated.
9. ALTERNATIVE MINIMUM TAX . When it was revealed that 155 millionaires did not pay any federal tax, Congress started a new policy, one which eventually taxed millions of innocent Americans who took legal deductions in high taxed areas. The cost to taxpayers will be a trillion dollars over a decade. The so-called mistake was not indexing the exemption for inflation, but the government knew the truth. When Congress finally voted to eliminate the unfair tax, President Clinton vetoed it. Meanwhile untaxed millionaires now run in the thousands.