86 Million Full Time Workers vs...

[anygunanywhere]

There are presently 86 million full time private sector workers.

There are presently nearly 148 million people receiving some sort of government payment. This does include social security.

1.7 to one.

It can't last forever.

There are over 16 million employed by fed, state, and local governments.

There are 4 million employed by the feds alone.

http://www.cnsnews.com/commentary/teren ... fit-takers

Anygunanywhere

[philip964]

This was very interesting. I wish it would come out on another source.

Numbers can be shown to say anything as we have seen with gun numbers. Recently there was a report showing metropolitan light rail was the second most dangerous way to travel after motorcycles. The safest was truck transportation then air travel followed by passenger car.

I am nearing Social Security and yes, will it be there to pay my property taxes? Something I worry about.

At some point, people decide they don't need to work if taxes are high.

That occurred for me along time ago, during the Carter years, when my wife worked. I realized we were in the 70% bracket on my income alone. Thus my wife was taxed at 77% (income plus social security) (and yes young folks, during President Carter your income was taxed at 70% above about 80K) She quit work right after that realization.

As AlGore has said there is a tipping point. Don't know where it is, but it is out there.

[Texas_Blaze]

....and yes young folks, during President Carter your income was taxed at 70% above about 80K...

I think I would have gone crazy if at the end of doing my taxes I saw I paid that kind of percentage, over any amount.

[philip964]

A the time, there was no sofa in the family room and one car didn't have AC. But the govt felt we were rich.

[Wodathunkit]

We paid $65k in taxes for 2013. My wife made $63k.... Im shopping for a CPA if anyone knows anybody in the Friendswood/league city area. Wanting to start a home based business and we want to do it right.

[Jumping Frog]

I realized we were in the 70% bracket on my income alone. Thus my wife was taxed at 77% (income plus social security) (and yes young folks, during President Carter your income was taxed at 70% above about 80K)

You were making more than that if you were in the 70% bracket.

In 1979, the 70% tax bracket applied to incomes above $215,400 for married filing jointly. A married couple making $80,000 was in the 54% tax bracket.

That is one of the reasons Ronald Reagan is one of my heroes. He cut the top tax rate to 50%, effective 1982, and then cut the top tax rate to 28%, effective 1988.

Source: U.S. Federal Individual Income Tax Rates History, 1862-2013 (Nominal and Inflation-Adjusted Brackets)

[baron]

We paid $65k in taxes for 2013. My wife made $63k

For married filing jointly, $65k income taxes would mean around $275k income, or more if you have a lot of deductions.

[tbrown]

A the time, there was no sofa in the family room and one car didn't have AC. But the govt felt we were rich.

Now people with smart phones and $100 sneakers get government handouts.