Liberty News Online

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By:  John W. Wallace

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SOCIALIST TYPE GOVERNMENTS HAVE RESULTED IN A LOSS OF FREEDOM AND VERY HIGH TAX RATES IN THE EUROPEAN UNION: WILL THIS BE AMERICA'S FUTURE TOO?

Have you ever wondered what the real cost of those proposed socialist programs are going to be – once most of the programs of the Democrat-Socialists are fully implemented in the United States, against the will of the American people of course. Have you ever wondered what your quality of life will be once these costs finally hit your wallet. If you have wondered about it, you may be very interested in looking at the current tax rate figures for the European Union.

As you look these mind-boggling, very high tax rates, keep in mind that in spite of these astronomical figures, these European countries are still not able to finance their social engineering and social welfare programs exclusively from tax revenues. Just about all of the European countries are also deeply mired in public debt of gargantuan proportions. Greece has reached the point where its debt is so huge it is in imminent danger of defaulting. That is the reason the European economic community has intervened to bail them out yet again.

If you’re following the international financial news, you know Spain and Portugal are right behind Greece.

Thanks to our current administration and the many Democrat-Socialist and Liberal-Republican administrations and politicians who came before, the United States is now heading right down the same path. Surely, both political parties can share the blame.

The VAT tax named in the table is the national sales tax that Europeans pay and that kind of a tax is exactly what you can expect to see the Obama administration proposing after the fall elections, if they win. This will be on top of the U.S. federal income tax

The initial percentage in the United States will not be anywhere near the outrageous numbers you now see in Europe, but then again neither were the federal income tax rates very high back in 1913, when that tax started. The current outrageous numbers in Europe didn’t start out as outrageous either. They started out as minuscule – right around the 1% or 2% where they will start out in the United States. Magically, however, they were increased over the years to where they are now. If history is a guide, the American taxpayers can expect the same thing here.

It is the very notion that with hard work and perseverance, anybody can get ahead economically here in the USA . Do you think that can ever happen with tax rates between 60% and 80%? Think again. With the government taking such a large percentage of your money, your life will be exactly like life in Europe … More