Recently on Fox News, Tim Scott said that 90% of revenue to be collected by all the new agents and audits will be taking in less than $75,000 dollars a year. All Americans pay federal taxes, and most pay state taxes. In California, those taxes are typically 30% and 10% respectively for the average taxpayer, so right there 40% of their income go into taxes. In some cases mortgages can offset some of those taxes, but if one pays rent there is no relief. Today, the average rent is 30% of one’s income (before paying federal and state), so by this time the average person will only have 20% of their income to pay for everything else in their lives: cars, food, medical insurance, utilities, etc.
And most of those items have taxes. Gas taxes, sales taxes, HOA taxes, even taxes on business licenses. I cant’ see how we can possibly live on an average of $75,000 dollars a year we are going to have to sacrifice who our children, our wife or ourselves. The Democratic party can’t figure it out and with President Biden mentally unfit to run the office he is killing us Americans. And now inflation is adding to our costs as well; it’s not a tax, but at 20-30% real cost increases, one can see we are in a very vulnerable place.