Why You Should Fear the IRS, FTB, and Federal Government

  1. They have an unlimited staff of tax attorneys and accountants;
  2. They have an unlimited budget;
  3. They are zealots, They can and will show up at your home, business, or your employer's place of business to demand money
  4. They have the power to destroy your business if you are self-employed;
  5. They have the power to seize your bank account without obtaining a court; judgment; and
  6. They have the power to place liens on all of your property which will destroy your credit rating.

The Internal Revenue Service (IRS) publishes a data book annually which contains information on IRS collections, enforcement of the law, and other information. The book is available on the IRS website.

 

Federal Income Taxes Too High?
The U.S. Federal Progressive Tax Structure

 

If you are having a problem paying your federal and state income taxes, consider these frightening statistics for the years 2020 through 2024.

  • The top 1 % of earners paid 40% of all federal income taxes.
  • The top 10% of earners paid 73% of all federal income taxes.
  • The top 53% of earners paid 100% of all federal income taxes.
  • The bottom 47% of earners paid no federal income taxes.

If Congress raises taxes to the point that the bottom 51 % of earners pay no federal income taxes, the no taxpayer voting block will have the power to increase taxes without limit on the 49% who do pay taxes The result will mean disaster for the country. While the numbers differ from state to state, the same risk exists in those states that have a heavy progressive income tax such as California.

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