Do You Have $100K? That’s What You Owe the Federal Government for THEIR Spending

December 29, 2023, 9:53 PM

The U.S. national debt soared so much in 2023 that the per-taxpayer burden reached $100,000

Yes, the “government” spends and spends and spends. Although the Democrats seem to spend a LOT more than the Republicans, we cannot honestly say that we have a bunch of thrifty savers on our team either. Politicians don’t really care how much of OUR money they spend because, well…it’s OUR money. And when the bill comes due someday, they won’t be around to get blamed for their insanity.

The Dems use our hard-earned tax dollars to push climate change, DEI, abortion and all of their radical plans. The Republicans use the money for things like our defense, crime prevention and immigration enforcement. Yes, our side actually spends money on better stuff – and more constitutional items – but they still spend WAY too much and overreach on what they should be allowed to do.

According to The Center Square, the U.S. national debt soared so much in 2023 that the per-taxpayer burden reached $100,000. (The entire debt is $34 trillion.) That means that every American owes about $100,000 just to pay off the debt in full – not even accounting for the ongoing operations of the Biden administration.

But it’s not just the federal government spending money like drunken sailors. Your states and your localities are spending your money at record levels too. Chances are, depending on your age, you have probably ALREADY given (“given” is a loose term) the government $100K of YOUR money.

I tried to figure out how much the government had stolen from me in taxes about 20 years ago – through federal and state taxation – plus sales tax, gas tax, property taxes and the other zillion taxes

they come after me for. I remember that after spending a few hours on the project, I figured out that my tax burden was about 30% of what I earned – and that was two decades ago. It’s probably well over 50% now and I don’t even live in NYC!!

Looking at how long I’ve worked, what I have made and the taxable rates over the years, it looks like the feds and the state of Michigan have gotten about $166,800 from me since I have been 18-years old. And that’s just a rough estimate. It’s probably much more.

And now I owe another $100,00???! That’s absolutely ridiculous.

Also ridiculous is the fact that the Trump tax cuts will be expiring soon. In an editorial on the RealClearPolitics website, Julio Gonzalez, CEO and Founder of Engineered Tax Services, Inc. says that, in the current economy, if this happens, it’ll be “catastrophic” with so many American families and businesses “hanging on by a thread.”

And NONE of the Republican presidential candidates are talking about it. Not even Trump.

BY STEVE GRUBER

Originally posted on Steve Gruber.com ➜

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