That's $45,000 for every man, woman and child in the United States.
And for those that advocate big-freedom limited government, like me, a tax lesson.
... growth tends to be stronger where taxes are lower. Seven of the nine states that do not levy an income tax grew faster than the national average. The other two, South Dakota and New Hampshire, had the fastest growth in their regions, the Midwest and New England.Update: What happens when a state goes after millionaires? They leave. Oregon should have learned from Maryland. But, hey, since when have politicians let common sense stand in the way of a plan to take more money from people who've earned it?
Our pastor posted this in church one morning and we watched the numbers just keep growing... it's actually unbelievably scary. And to top it off... all this debt (or "stuff") and most people are less content than previous generations were.
ReplyDeleteThanks Carrie.
ReplyDeleteThe interesting thing about the stat is that it's the public debt only. Personal debt is in addition to this amount.
Contentment is a worthwhile topic to explore on a deeper level, though, for no small part of the public debt comes from a desire to have government coddle its citizens from cradle to grave.
People wonder why I advocate small (and I mean small), limited government. It's due in part to the predilection of humans to spend other people's money much more willingly than they part with their own. This cuts across the political spectra. The politicians of our generation have already spent the wealth of our grandchildren.