CPR
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Breathing Through a Straw
Families Bear the Tax Burden |
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Total tax revenues taken from the economy by federal, state and local governments are now greater than ever. During World War II the total tax revenues reached a high of 30.8% of Gross Domestic Product (1944). Today, the taxman consumes a staggering 32.4% of GDP. This is up from 30.0% in 1991. In times of prosperity Uncle Sam gets particularly greedy. The federal tax take during the prosperous 1960s began at 18.2% of GDP in 1961 and ended at 20.3% in 1969. This pattern was repeated in the booming 1990s. The federal tax man levied a charge of 19.4% of GDP in 1991 which has escalated to 21.6% in 1999. Prosperity makes people complacent about their true tax burden. "In most two-income families, one spouse works for the family, the other for the government," according to Steve Forbes. Tax Freedom Day – the day during the calendar year when you stop working for the taxman – is now in the month of May! |
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Quotable Truths | |
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Three groups spend other people’s money: children, thieves, politicians. All three need parental supervision Rep. Dick Armey Work as if you were to live 100 years; pray as if you were to die tomorrow
I hear and I forget, I see and I remember, I do and I understand
The person who knows "how" will always have a job. The person who knows
"why" will always be his boss
Take care of those who work for you and you’ll float to greatness on
their achievements
He was a self-made man who owed his lack of success to nobody
No one can possibly achieve any real and lasting success or "get rich"
in business by being a conformist
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