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Old November 16, 2008, 07:12 PM
Bozo
 
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Default Re: Do The Rich Owe the Poor?

Quote:
Originally Posted by Steve MacLellan View Post
Sure, I might complain at times how I resent paying so much in taxes, but I'd like to think some of it goes to projects and people that can use it, rather then being wasted on superficial government expenditures.

According to the Grace Commission report:

Quote:
With two-thirds of everyone's personal income taxes wasted or not collected, 100 percent of what is collected is absorbed solely by interest on the Federal debt and by Federal Government contributions to transfer payments. In other words, all individual income tax revenues are gone before one nickel is spent on the services which taxpayers expect from their Government.

That was in 1984. Probably still true.
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