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Sunday, January 9, 2011
A 30-year-old American with a high school diploma earning $60,000 a year will ultimately pay $471,512 in federal taxes. If that amount were privately invested, it would grow to the tidy sum of $2,626,347.
That’s the finding from the MyGovCost.org website, which has devised a “tax calculator” to figure out how much various Americans will pay in taxes, and how much those amounts would produce if invested.
The calculator assumes that money would be invested in a diversified portfolio earning 6.09 percent a year, and that salaries would increase based on education levels. Figures are in current U.S. dollars.
According to the calculator, a 50-year-old with a high school diploma earning $75,000 would pay $290,738 in taxes, which would produce $863,323 if invested.
A 22-year-old with a bachelor’s or higher degree earning $40,000 would pay $642,674 in taxes, which would produce $4,345,286 if invested.
And a 30-year-old with a high school diploma earning $75,000 would pay $766,234 in taxes, which could grow to $4,083,643 if invested.
The calculator even breaks down how much a taxpayer would shell out for various parts of the budget. For example, the 30-year-old high school grad earning $75,000 would pay $91,902 for national defense, $163,725 for Medicare — and $117,399 for interest on the national debt.
A Florida doctor was hospitalized with severe abdominal pains after eating an entire grilled artichoke at a restaurant, then sued the restaurant for not telling him he wasn’t supposed to eat the outer leaves.
That’s just number five on a list of the “Most Ridiculous Lawsuits of 2010” compiled by the U.S. Chamber Institute for Legal Reform (ILR), an affiliate of the U.S. Chamber of Commerce.
“While many of these lawsuits are humorous and others quite troubling, the damage inflicted by abusive litigation is very real,” said ILR President Lisa Rickard.
“More litigation is something we can ill afford in this troubled economy that desperately needs more jobs, not more lawsuits.”
Topping the list of the “Most Ridiculous” is the suit filed by a West Virginia woman against Oprah Winfrey, George W. Bush, Laura Bush, and three doctors. She claimed the physicians implanted a 3-D camera and a wire sensor inside her during surgery, and the defendants were monitoring her 24 hours a day through the camera.
Number two is the suit filed by a Montana girl who tried to commit suicide by driving into oncoming traffic. The resulting crash killed a four-months-pregnant woman and her 13-year-old son. The suit, filed against the pregnant victim’s estate, alleged that the woman inflicted mental pain and suffering by causing the crash.
Number three was filed by an incarcerated killer after a Massachusetts judge rejected his request for electrolysis as part of a state-funded sex change.
Number four was filed by a Wisconsin teacher who pleaded guilty to having sex with a 13-year-old boy in her home, then sued the boy’s parents for failing to protect the child from her.
Her claim “represents convoluted reasoning reminiscent of Lewis Carroll,” a court declared. “We will not follow down the rabbit hole and open the door for a child molester to sue the victim’s parents for their failure to lock their child away or for their ineffectiveness in trying to stop the child from being sexually abused.”
Another lawsuit cited by the ILR was filed by an Oregon man who claimed police destroyed the mystical powers of his medicine bag when they opened it during his drunk driving arrest.
"Should you mention slavery in the North these instant experts will inform you that no such thing ever existed in this country. It was all the “peculiar institution” of the South and only the South. Anyone swallowing this cultural fertilizer deserves to be hoodwinked, or at least to get cultural indigestion, which is all this stuff is capable of passing along."
Slavery In The North
They Shall Be Remembered"
"Us Not Forget, For They Then Shall Be Forgotten And Lost To time"
General Robert Edward Lee - 19 Jan. 1807- Westmoreland, Va.
Commodore Matthew Fontaine Maury - 14 Jan. 1806 - Spotsylvania Co., Va.
Lt. General Thomas Jonathan "Stonewall" Jackson - 21 Jan. 1824 - Clarksburg, Va.
Lt. General James Longstreet - 8 Jan. 1821 - Edgefield Dist, S.C.
Lt. General Richard Taylor - 27 Jan. 1826 - Louisville, Ky.
Maj. General John Cabell Breckenridge - 15 Jan. 1821 - Lexington, Ky.
Maj. General John Calvin Brown - 6 Jan. 1827 - Giles County, Tenn.
Maj. General Franklin Gardner - 29 Jan. 1823 - New York City, N.Y.
Maj. General Thomas Carmichael Hindman - 28 Jan. 1828 - Knoxville, Tenn.
Maj. General Joseph Brevard Kershaw - 5 Jan. 1822 - Camden, S.C.
Maj. General Lafayette McLaws - 15 Jan. 1821 - Augusta, Ga.
Maj. General George Edward Pickett - 28 Jan. 1825 - Richmond, Va.
Maj. General Jones Mitchell Withers - 12 Jan. 1814 - Madison Co., Ala.
Brig. General Abraham Buford - 18 Jan. 1820 - Woodford Co., Ky.
Brig. General William Lewis Cabell - 1 Jan. 1827 - Danville, Va.
Brig. General James Ronald Chalmers - 11 Jan. 1831 - Halifax Co., Va.
Brig. General John Randolph Chambliss Jr. - 23 Jan. 1833 - Greenville Co., Va.
Brig. General James Chestnut Jr. - 18 Jan. 1815 - Camden, S.C.
Brig. General James Holt Clanton - 8 Jan. 1827 - Columbia Co., Ga.
Brig. General John Bullock Clark Jr. - 14 Jan. 1831 - Fayette, Missouri
Brig. General George Blake Cosby - 19 Jan. 1830 - Louisville, Ky.
Brig. General Alfred Cummings - 30 Jan. 1829 - Augusta, Ga.
Brig. General Henry Brevard Davidson - 28 Jan. 1831 - Shelbyville, Tenn.
Brig. General Joseph Robert Davis - 12 Jan. 1825 - Woodville, Maine
Brig. General John Wesley Frazer - 6 Jan. 1827 - Hardin Co., Tenn.
Brig. General Lucius Jeremiah Gartell - 7 Jan. 1821 - Wilkes Co., Ga.
Brig. General Richard Caswell Gatlin - 18 Jan. 1809 - Lenior, N.C.
Brig. General Henry Gray - 19 Jan. 1816 - Laurens District, S.C.
Brig. General Thomas Green - 8 Jan. 1814 - Amelia Co., Va.
Brig. General Richard Griffith - 11 Jan. 1814 - Philadelphia, Pa.
Brig. General James Morrison Hawes - 7 Jan. 1824 - Lexington, Ky.
Brig. General Alexander Travis Hawthorne - 10 Jan. 1825 - Conecuh Co., Ala.
Brig. General Alfred Eugene Jackson - 11 Jan. 1807 - Davidson Co., Tenn.
Brig. General John Doby Kennedy - 5 Jan. 1840 - Camden, S.C.
Brig. General William Whedbee Kirkland - 13 Jan. 1833 - Hillsborough, N.C.
Brig. General Robert Doak Lilley - 28 Jan. 1836 - Greenville, Va.
Brig. General William Whann Mackall - 18 Jan. 1817 - Cecil Co., Md.
Brig. General Humphrey Marshall - 13 Jan 1812 - Frankfort, Ky.
Brig. General William Henry Fitzhugh Payne - 27 Jan. 1830 - Fauquier Co., Va.
Brig. General William Raine Peck - 31 Jan. 1818 - Jefferson Co., Tenn.
Brig. General John Pegram - 24 Jan. 1832 - Petersburg, Va.
Brig. General John Seldon Roane - 8 Jan. 1817 - Wilson Co., Tenn.
Brig. General Daniel Ruggles - 31 Jan. 1810 - Barrie, Mass.
Brig. General James Phillip Simms - 16 Jan. 1837 - Covington, Ga.
Brig. General Merriwether Jeff Thompson - 22 Jan. 1826 - Harpers Ferry, Va.
Brig. General Lloyd Tilghman - 18 Jan. 1816 - Claiborne, Md.
Brig. General Richard Waterhouse - 12 Jan. 1832 - Rhea Co., Tenn.
Brig. General Thomas Neville Waul - 5 Jan. 1813 - Sumter Dist., S.C.
Brig. General Jones Mitchell Withers - 12 Jan. 1814 - Madison Co., Ala.
Brig. General William Hugh Young - 1 Jan. 1838 - Boonville, Missouri