I do not suggest that cutting the budget is the only "way to prosperity", but it is impossible to create a deficit if you do not spend more than the revenue you take in. Stop Spending, Stop Growing the Government!
Government is a necessary evil and should be restrained to a minimum, because the more you allow it to have, the more it wants and takes.
Government, both state and federal needs to stand down from it’s involvement in our society. It is not needed at the current level.
The idea for taking more money/property from others to progress this country to a vision of utopia is understandable, but misguided and unrealistic. The statist will never have enough of other people’s property as they attempt to have the government responsible for fixing every real or imagined societal ill. Everything we buy, has all or some of the below mentioned taxes added onto its price. Widgets are made in a factory somewhere, employing people whose wages are taxed. That factory pays fuel taxes, property taxes, ad nauseam… which go into the price of all the widgets. Food and manufactured goods of all kinds have the makers' taxes included in their prices. A loaf of bread bought in a grocery store or bakery has property taxes for the farmer, bakery, garage for the delivery trucks, oil refinery, truck factory, tire factory, and the factories for every single part in the truck, tractor, and various pieces of machinery that go into making and delivering the bread. There are taxes on the property and workers for the milling of the flour, egg producer, maker of yeast, milk, wrappers, slicers, ovens, and even the printers who print the wrappers, and ink that goes into them. All these factories, shippers, farmers, stores, etc. have labor and property taxes to pay as well as telephone, fuel, and a host of other taxes, all of which add to the cost of that loaf of bread, (approx. 150 different taxes levied on the bread.) One economist 40 years ago said that a $1.00 loaf of bread had $.95 in taxes.
Of course, you also may pay your own taxes. Federal personal income tax of 17% (2011 est. - 18.2%.) This is only true if you are not part of the 47% of all federal tax filers that Do Not Pay One cent in taxes. State & local income taxes 10.1% (2009 - 10.6%) State taxes range from under 6% to over 12%. Local taxes run from zero to 2.75%. Sales tax 9.7% (2009 - 10.3%) Figure is the average rate. State sales taxes range up to 8% and local taxes run from zero to over 5%. Social security & Medicaid 7.65% but total rate is actually 15.3% since half is paid by the employer, but I’m ignoring that to be kind. Federal corporate income tax share 3%, this is based on corporate taxes being approximately 1/6 of personal taxes, and that they are paid by individuals in the final analysis. Property tax 2.5% (2007 - 2.7%) Yearly average actual costs range from under $200 in Alaska to almost $1900 in New Jersey . Fuel/gasoline tax .5% (2009 est. - .6%) Approximately 23% of the 2005 gasoline price is for federal & state taxes. The federal excise tax is 18.4 cents per gallon. Per the CPI, about 6% of the average budget is for transportation, (estimated.). 2010 estimate, $.45 per gallon average. Other 2009 est. - 7%, includes estate tax, fees, licenses, inflation losses, inheritance, deficit allowance, gift, and others too numerous to mention.
Total tax percentage paid by the above average US citizen, 2009 est. - 57+% (Info from http://nowandfutures.com/taxes.html)
When will enough be enough, what will be enough? What are the actual limits that you envision for government?
Not a complete List of the taxes that confiscate our wealth for redistribution to others….
Accounts Receivable Tax
Accumulated Earnings Tax
Ad Valorem Tax (includes duties on imported items), also see Property tax
Alternative Minimum Tax
Aviation Fuel Tax
Capital Gains Tax
Cement and Gypsum Producers License Tax
Cigarette Tax
Coal Severance Tax
Coal Gross Proceeds Tax
Consumer Counsel Tax
Consumption Tax
Corporate Income Tax
Corporation License Tax
Court Fines (revenue from many activities)
Customs Duty
Dog License Tax
Double Tax
Electrical Energy Producers Tax
Estate Tax, Inheritance
Federal Income Tax
Federal Unemployment Tax
Fishing License Tax
Food Service License Tax
Fuel Permit License Tax
Gas Guzzler Tax
Gasoline Tax
Generation-skipping Transfer Tax
Gift Tax
Gross Production Tax
Hospital Facility Utilization Fee Tax
Hunting License Fee Tax
Inheritance Tax, see Estate Tax
Inventory Tax
IRS Interest Charges
IRS Penalties Tax
Kiddie Tax
Land Value Tax
Liquor License Tax
Liquor Tax
Local Tax
Lodging Facility Use Tax
Luxury Tax
Marriage License Tax
Medicare Tax
Metal Mines Gross Proceeds Tax
Metal Mines License Tax
Miscellaneous Mineral Mines License Tax
Miscellaneous Mines Net Proceeds Tax
Nursing Facility Bed Tax
Oil and Natural Gas Production Tax
Parking Meter Tax
Payroll Tax
Professional PrivilegeTax
Property Tax
Proxy Tax
Public Contractor's Gross Receipts Tax
Public Service Commission Tax
Public Utility Tax
Real Estate Tax
Real Estate Transfer Tax
Rental Vehicle Sales Tax
Resort Tax
Resource Indemnity and Groundwater Assessment Tax
Retail Telecommunications Excise Tax
Sales Tax
School Tax
Self-Employment Tax
Septic Permit Tax
Severance Tax
Social Security Tax
State Income Tax
State Unemployment Tax
Statewide Emergency Telephone 911 System Fee Tax
Surtax Tax - Extra tax.
Tariffs - A tax on imports.
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Minimum Usage Surcharge Tax
TDD Telecommunications Service Fee Tax
Tobacco Products Tax (Other than Cigarettes)
Toll Road Fee Tax
Toll Bridge Fee Tax
Toll Tunnel Fee Tax
Tonnage Tax
Traffic Fines
Trailer Registration Fee Tax
Use Tax
Utility Tax, see Public Utility Tax
Vehicle Registration and License Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Wholesale Energy Transaction Tax
Workers Compensation Tax