Good Intentions

The US income tax began in 1913. Most Americans paid 1% of their income to the government. The richest paid 7%. The people were told it would never exceed 10%. Ever.

When President Wilson decided we needed to participate in World War I (less than 5 years later), the income tax rate was increased to 7% with the richest paying 77%. That is not a misprint. 77%.

When Social Security was first set up, the average life expectancy was 63 years. A few would benefit while everyone contributed. We live longer, we pay in over 6 times the rate as initially established, and many receive the benefit.

Fannie Mae/Freddie Mac not own over 1/2 of all homes.

With good intentions, government helps a little. Then it's almost as if it feeds on its own greed. Soon we are all enslaved to its programs.

'til later