Sources: Congressional Budget Office, Office of Management and Budget, and U.S. Census Bureau.
A Child Born in 2016, Will Owe $42,759.00 to the US Government- AT BIRTH! And a whopping $163,452.00 to the US Government at age 29 (2044 A.D.) Happy Birthday?
This chart from Heritage Foundation shows that in 1970, the average American adults Tax Obligation was $6,783.00. In 2008 that Tax Burden had grown to $21,110.00- per person.
A child born today- (my fourth child is due at anytime) has waiting for them as they exit the womb an incredible $42,759.00 Tax Obligation slapped onto them. As more debt is thrown onto the backs of America’s citizens by its politicians, that same child will owe $87,247.00 by his 18th birthday.
And by their 29th birthday, a child born today will owe $163,452.00 in Tax Burdens to the US Government.
Unless I do something to reverse this trend, my child, to be born in January 2016, will owe $163,000.00 in Taxes to the US Government.
And so will yours. Okay, maybe not yours. But your grandkids- definitely. I hope you aren’t counting on them to take care of you in your old age. They likely won’t have the means to provide for themselves in the same manner that you have reached on your own. Imagine that. The first time in American history that a generation of American children are worse off than their parents.
Let that sink in.
Allow me to pose some questions.
- If, today, you are living paycheck to paycheck struggling to stay afloat financially, how are your children going to fare under a higher tax obligation than you have today?
- Bear in mind, that while the Tax Burden is growing on the backs of your children,
- Wages have been stagnant for almost 7 years…
- Inflation is also eating away at your children’s dollars as well.
- Are you mad enough, are you curious enough, do you love your children enough to learn how to stop this out-of-control spending by the Politicians in this country?
Maybe you are ready, for the sake of your children, grandchildren, to become a Totally Engaged American.
Stay tuned to future posts to learn How to Take America Back.