This is hardly the biggest deal in the world, but it caught my eye so I’m passing it along. It’s a “Taxpayer’s Statement” mailed to me by my congressman, John Bayard Taylor Campbell III, chairman of the Budget and Spending Task Force of the Republican Study Committee. Take a look at the highlighted lines:
Miscellaneous taxes sure are up! Or wait — the statement calls them “miscellaneous receipts.” Hmmm. Let’s look at the footnote:
This includes taxes from a variety of places including gaming activity fees, Dept. of Interior fees, Puerto Rico, and other sources.
“Other sources” may sound like it’s part of “taxes from a variety of places,” but it turns out it’s a completely independent clause. The vast bulk of that number, about $75 billion, is profit from the Federal Reserve’s investments that have been returned to the Treasury. But even if you read the footnote you wouldn’t know that. It just looks like the gummint is sucking up ever more of your money.
In the great game of misleading people about taxes, this is a misdemeanor at most. Maybe a parking ticket. Still, Campbell sure has gone to some lengths to make sure that taxes look high (and growing) and profit from the evil Fed is kept safely out of sight.