A local television station, KOTA, ran a story last night on their evening news titled, “With deadline looming, taxpayers prepare to protest.” The report suggested that while the average current tax burden is down somewhat this year, thousands are preparing to protest in tomorrow’s nationwide tea parties.
Matt Hunter further underscored that South Dakotans pay the third lowest overall taxes in the nation and asked a number of citizens what all the fuss was about. Rick suggests the concern isn’t so much about the current tax load, but the future tax load being mandated by the unprecedented spending Congress recently enacted.
A recent study indicates that revenue from income taxes accounts for only 50% of the total annual spending approved by Congress. The rest comes from borrowing. Taxes will need to double just to balance the budget, and that doesn’t include doing a thing to pay down the expanding national debt. In a poll just conducted by KFG, participants were asked, “What needs to be done to resolve this crisis and keep it from happening again?” The number one response, with 75% agreeing or strongly agreeing, was “a significant reduction in government spending.”
You can view the report by clicking here.