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Tuesday, April 10, 2018

Stossel: The Great American Tax Ripoff

[VIDEO] Today's Stossel piece is about taxes in America. This month Americans will pay income taxes to the IRS - of course here in Illinois we also have to pay our income taxes. Either way no matter where you go there are taxes involved to pay for governmental expenses.

For example the now repeals sugary beverage tax was supposed to go to the Cook County hospital system, however, it also goes to these pensions. It was always said that without that "regressive" tax some county workers would lose their jobs.

These taxes are supposed to pay for all these wonderful things that we expect gov't to provide for us. Yes we should have at least police & fire protection. And of course we do have to provide public education and public health services. We also expect gov't to do far more than even that.

As stated in this video the various taxes don't go towards some special purpose it goes into the general fund. The Chicago bag tax isn't designed for the environment, instead it's going into this general fund. It's all about the money and the gov't like anyone else has to be able to pay it's own bills. Unfortunately as it would be with someone - let's say a person who keeps borrowing money from you and never pays you back - the need just isn't going away. It's entirely too easy to go to the well and ask for more cash!

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