The Constitutional Convention - 1787 to 1789

The Constitutional Convention - 1787 to 1789
The US Constitution

Introduction toThe Way to Wealth...

Tuesday, June 8, 2010

The 21st Century Way to Wealth - Part 1 - Industriousness - A Ten Percent Tax…

Father Abraham continues...

“It would be thought a hard government that should tax its people one-tenth part of their time, to be employed in its service;"

Benjamin Franklin and the other Founding Fathers didn’t have to deal with the IRS, state, county, township, city and tax-district income taxes, property taxes, school taxes, taxes on gas, electricity, telephone service, internet access, cable and satellite service, water, sewer, gasoline, heating fuel, beer, wine, whiskey, tobacco, and sales tax on almost everything else thrown in just for good measure.

Add to that the taxes on corporations that are buried in the price of their goods so you end up paying tax on that hidden tax when you buy those goods.

Today’s governments in America take a lot more than ten percent of your time. They don’t require actual time. They take so much of the typical American’s work product — money for short — in the form of taxes that many Americans really work for the government up to 50% of the time.

It can get even worse if you are financially successful; add in estate and inheritance
taxes, probate fees and final expense costs. Even when you have well informed and qualified advisors, the government can confiscate a big chunk of your estate when you die.

Is ours, therefore, a “hard government?”

Hard indeed and getting out of hand, but recall the taxes we impose on ourselves by idleness, pride and folly. We control these taxes entirely.

We can control the taxes of government only by electing people who see government as the servant of ‘We the People…’

How does the current crew in DC measure up?

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