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Global Skywatch

what do you owe?

Every political candidate on the field is completely out of touch with how screwed the US is economically. According to this source, total combined federal, state, and local revenues for 2015 are projected to equal $6 trillion. Dividing that by the approximately 320 million people in the US, that means government takes $18,750 out of each and every individual, this year alone. For my family of 4, that’s $75,000. I don’t know about you, but that’s a big number for someone like me.

But apparently it’s still not enough, because the total national debt, including federal, state, and municipal debt, according to this source, is projected to reach about $21.694 trillion dollars this year, not including unfunded liabilities. Dividing that by the approximately 320 million people in the US, that works out to $67,793.75, again, that’s per each individual- not household. So again, for my household of 4, that works out to $271,175. And again, I don’t know about you, but that’s a pretty big number for someone like me.

Now when you earn a dollar, that dollar gets taxed. And if you buy a coffee at the donut shop, it gets taxed again. And if the waitress takes that dwindling handful of change and uses it to put gas in her car, it gets taxed again. And when the gas station owner uses it to pay his cashier, it gets taxed again. And when the cashier goes to buy a coffee at the donut shop, it just keeps on going ad infinitum.

Then there are all the hidden ways in which you’re taxed. You may buy an orange at the grocery store, and most places don’t tax food at the register. But what about all the layers of state interference in the market between the orange orchard in Florida or California and the store where you bought that orange? The land that grew that orange is taxed. The truck that hauled that orange was taxed at the time of its purchase, and again at least once every year. All parts, tires, fluids, etc.? Taxed in most places. The fuel in that truck is taxed. Most likely that truck had to pay triple digits in tolls to get from pickup to delivery. The driver’s income is taxed. And all those taxes, all those layers, are rolled in to the price you pay at the register for that orange.

But it’s still not enough. I hear people every day clamoring that the US should lay more taxes on the wealthy. I don’t hear too many people saying taxes on the lower tiers should be eased. With a debt like the US has, I guess how can they afford to discuss cutting revenues?

I’ve never been one to get excited about talk of secession, but I can’t help thinking states might be prudent to distance themselves from that debt any way they can.