Growing Into Adulthood and High Taxes

Marci Wexler Summers, Politichicks

Becoming an adult is an amazing experience. It is amazing to realize that you have the freedom to own a home, purchase a car, and even choose all of your favorite items at the grocery store. I’ve thoroughly enjoyed figuring out “grown up” life with my husband. We’ve loved house hunting and signing the papers for our first mortgage, buying a new car, and starting our professional careers together. Having two incomes and no children, we’ve enjoyed the satisfaction of earning, saving, and spending our well earned money. But this year, as tax day loomed closer, I found myself mad. Not just slightly irritated like the way I feel after I buy a pair of shoes and realize a week later they go on sale, but full out furious about the amount of money that is being taken from us on a biweekly basis. Here are two realizations about our current tax system that I’ve come to as I have grown into adulthood and high taxes.

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Keynesian Economics and the Great Depression

Hillsdale College economics professor Gary Wolfram discusses Keynesian economics and the factors that pulled the national economy out of the Great Depression. The story of World War II shows that government spending may produce activity, but not the prosperity of a truly healthy economy.

 

-- Gary Wolfram, Hillsdale College,

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ShadowStats alternate economic indicators are based on the methodology of noted economist John Williams, specialist in government economic reporting.

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  • Inflation:
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*[cpi-u is the Bureau of Labor Statistics inflation rate for all urban consumers]