8 Things Wrong With America's Tax System

Highlighted below are 8 major points on why our Tax System is in need of reform.

1. The last time the trust fund was this depleted was 1983

Or as some of you may know, back when "Total Eclipse of the Heart" topped the BillBoard charts.

According the Charles Blahous, one of the trustees for Medicare and Social Security, the trust fund is at an all time low.

As Bonnie would say, we're falling apart.

2. The trust fund for Medicare and Social Security will run out in 2024.

The amount of taxpayer dollars going towards Entitlement programs rises year after year, yet the fund is running dry.

Entitlement programs will drive the country to bankruptcy.

But hey, maybe we'll be living on Mars by then so none of this really matters.

3. The United States has one of the most progressive tax brackets in the global economy.

With the top income levels paying over 40% of their income to the government, the United States uses a highly progressive form of taxation.

Now THATS progressive.

4. The United States has a high level of income inequality.

While most of the taxes come from the rich, the government fails to redistribute that effectively. The fault does not lie with the 1% but with how the GOVERNMENT spends their taxes.

But yes, lets continue to bash those who are successful.

5. The United States borrows $561 billion to pay towards entitlement programs.

With total tax revenue at $3.8 TRILLION the United States government still feels a need to borrow another $561 billion.

They have the budgeting skills of Kenny Powers

6. The government only spends 6% paying off debt

Lets break this down, the government borrows $561 million to make up for the deficit, and then only pays $250 million of it back.

I think they're a little lost.

7. Lawmakers refuse to pass legislation that would effective eliminate the deficit

Each session of congress has the same debate over spending.

Voters need to elect law makers who will propose realistic change that can be achieved. Lawmakers need to wake up and face the real problem.

"Wait that's our job?"

8. It is up to You to make the difference

It ultimately falls in the hands of us, the voters, to speak out for spending reform, and reduce income inequality.