When Gov. Bruce Rauner proposed freezing property taxes across Illinois, Barrington Area Unit District 220 Board President Brian Battle opposed the idea.
“I don’t understand why property taxes are an issue for the state,” he told the Daily Herald.
How could they not be an issue?
Illinois has the highest property taxes in the Midwest. In 2013, property taxes on the average Illinois home were $3,939, about 14 percent higher than runner-up Wisconsin. Neighboring Indiana’s average was $1,507. Is it any wonder Illinoisans are leaving for the Hoosier State?
Read the full editorial from the Illinois Policy Institute’s website here.
Putting aside real estate taxes which are symptomatic of an even bigger problem. The largest tax levied on American households is the debasement of US “debt backed fiat currency” caused by the endless printing of paper money by the U.S. Treasury at the direction of the U.S. Federal Reserve Bank. QE1-QE4 is ongoing for no other purpose than to try desparately to salvage a bankrupt banking system and Federal government at the expense of the American producer.
Until the manner in which “creation of our money” is understood and modified by the “we the people”, “we the people” by simple mathmatics are destined for poverty and eventual serfdom at the hands of a few too big to fail financial insitutions and an overreaching Federal Government.
Every dollar printed by the U.S. Treasury not only results in expansion of money supply by 9x (fractional banking standards) reducing the value of existing dollars (97% since 1913) but in return for reducing our purchasing power, “US citizens are taxed on each of these printed dollars in the form of an obligation to repay holders of US Notes. The majority holder of these US Treasuries are the maestros at the Federal Reserve (6 Trillion) who did nothing for this money except make the rest of us poorer by expanding the money supply.
This authority was given to this “private reserve bank” by Congress in 1913 abdicating Congressional Consitituional powers for the sake of a few profiteers.
From 1913 to 1971, US money was backed by “gold”, since 1971, US Money is backed by “debt”.
Welcome to the credit economy.