Revenue

Revenue: noun, the income of a government from taxation, excise duties, customs, or other sources, appropriated to the payment of the public expenses.

In the U.S. we have the I.R.S. (Internal Revenue Service).  The I.R.S. is the federal entity responsible for the collection of taxes. The taxes are then treated as revenue and used to pay for government and all the programs that we are privileged to have. Half of us pay all the taxes for the whole country in the form of income taxes. The other half for whatever reasons doesn’t pay anything. Perhaps that includes the unemployed, retired, disabled and of course we can’t leave this group out; the swindlers who play the system to have all their taxes refunded. That’s a huge problem and it will only get worse. The retired and the disabled are another problem that has to be addressed. The retired persons sector will only increase in numbers as time goes by. As everyone knows, the average lifespan of Americans has been growing for decades now. To wit, the longer the retirees live the longer they burden our government programs that are there to help them. For some time now it seems that the trend in illnesses that warrant disability has been on the increase. Maybe we are becoming a less healthy nation or is it that people have found ways to work the system to take advantage. This will lead to a smaller section of Americans paying a larger portion of the taxes. And in the current economic climate with 9.2 % unemployment the actual number might be about 40%. It doesn’t take a financial wizard or a mathematician to see that the bottom line isn’t a healthy one. It’s also easy to see that the development of new social programs or the extension and enlargement of existing programs by the federal government is a horrible idea. The federal government must learn to live within its means. That’s economics 101. 

Hugo