Wednesday, September 15, 2004

We are Getting Taxed HOW MUCH?
If you ever were curious about the level of "hidden taxation" take a look at this line regarding how high a national sales tax would need to be -

Economists at the Brookings Institution figured the tax rate would have to be closer to 60 percent over the next 10 years to fully replace all federal tax revenues including the estate tax.

This reminds me of a story - I recently asked some friends from China why they didn't naturalize as U.S. citizens. Their reason for avoiding it wasn't based on national pride - rather they felt taxes were too high to stay here longterm.

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