Marshall Sanford: “Just on the subject of taxes, I hear it a lot at home. You are talking about Main Street. What is interesting is to…”

“Just on the subject of taxes, I hear it a lot at home. You are talking about Main Street. What is interesting is to think the National Taxpayers Union estimates that all of us spend basically the first 6 months of each year working to pay for the total cost of Federal, State, and local governments. If you actually break that down on a daily basis, it means that everybody goes to work in the morning, they spend the entire morning working for somebody else, they break for lunch, and then they get to spend the afternoon working for themselves and their families. What I am hearing from folks is that does not make common sense. What I think to be even worse, you look at how that is going to impact children. It takes every single Federal income tax filed west of the Mississippi simply to pay the interest on the national debt. And if that was not bad enough, what is worse is how it looks for our children. A child born in America today will pay $187,000 in taxes to pay for their share of interest on the national debt. Viewed another way, generational accounting says to keep our Government solvent, they would have to pay an 82-percent tax rate if we stayed on the course we are on. So I think when we talk about these tax rates, they are fairly alarming numbers that I think impact everybody's lives.”