I’ll never forget my first paycheck with overtime on it. I had busted my ass and broke 60 hours that week. I vividly remember running and rerunning the “sky-high” amount I had earned. Remember now, I was working manual labor to try and save up for the lean times of winter so I needed that damned money.
The crushing realization that the government had taxed the ever loving shit out of it damn near put me in a depression. The knowledge that such a large percent of my labor was going to others about turned me into a freaking anarchist on the spot.
I mean come on. I was 17, dirt poor, and trying to start my life. “You need to help out others.” Yeah motherfuckers, when I have enough money to support myself first though.
Moments like that have really stuck with me through the years, and shaped my personality far more so than any parenting I’ve ever received.
musket
December 20, 2016 4:29 pm
Wait till this young patriot finds out what the government spends the money on…….
Edwitness
December 20, 2016 5:57 pm
According to this recent newsletter this is the reason for this kids stickershock.
According to the BEA’s Journal of Economic Growth, government regulations have cut your annual salary by $277,000 annually. If you make $53,000 per year, you would be making $330,000 each year!
Two independent economists think those numbers are low. John Dawson of Appalachian State University and John Seater of North Carolina State constructed an index of federal regulations. They did this by tracking the growth in the number of pages in the Code of Federal Regulations since 1949. The number of pages in 1949 was 19,335 pages. In 2005, there were 134,261 pages. That’s a six-fold increase. (By 2011, the number of pages had risen to 169,301 – almost a nine-fold increase.)
Dawson and Seater say that annual output in 2005 was 28% lower than it would have been if regulations stayed at the 1949 level. And GDP in 2011 would have been $53.9 trillion instead of the $15.1 we saw. That means government regulations stole $38.8 trillion out of our economy in those 62 years. In 2011, that was enough to pay off the national debt twice.
(Excerpt from McAlvany Intelligence Advisor, August 2016)
Until next time, Don McAlvany
I’ll never forget my first paycheck with overtime on it. I had busted my ass and broke 60 hours that week. I vividly remember running and rerunning the “sky-high” amount I had earned. Remember now, I was working manual labor to try and save up for the lean times of winter so I needed that damned money.
The crushing realization that the government had taxed the ever loving shit out of it damn near put me in a depression. The knowledge that such a large percent of my labor was going to others about turned me into a freaking anarchist on the spot.
I mean come on. I was 17, dirt poor, and trying to start my life. “You need to help out others.” Yeah motherfuckers, when I have enough money to support myself first though.
Moments like that have really stuck with me through the years, and shaped my personality far more so than any parenting I’ve ever received.
Wait till this young patriot finds out what the government spends the money on…….
According to this recent newsletter this is the reason for this kids stickershock.
According to the BEA’s Journal of Economic Growth, government regulations have cut your annual salary by $277,000 annually. If you make $53,000 per year, you would be making $330,000 each year!
Two independent economists think those numbers are low. John Dawson of Appalachian State University and John Seater of North Carolina State constructed an index of federal regulations. They did this by tracking the growth in the number of pages in the Code of Federal Regulations since 1949. The number of pages in 1949 was 19,335 pages. In 2005, there were 134,261 pages. That’s a six-fold increase. (By 2011, the number of pages had risen to 169,301 – almost a nine-fold increase.)
Dawson and Seater say that annual output in 2005 was 28% lower than it would have been if regulations stayed at the 1949 level. And GDP in 2011 would have been $53.9 trillion instead of the $15.1 we saw. That means government regulations stole $38.8 trillion out of our economy in those 62 years. In 2011, that was enough to pay off the national debt twice.
(Excerpt from McAlvany Intelligence Advisor, August 2016)
Until next time, Don McAlvany