The Stamp Act was passed by the British government exactly 259 years ago today. The law imposed burdensome fees on all printed materials from newspapers to playing cards, and was the catalyst to the famous mantra, “No taxation without representation,” and the subsequent American Revolution.
259 years later, Americans now pay anywhere from 10-37% in income tax alone. This doesn’t include the payroll tax, sales tax, property tax, vehicle registration tax, gasoline tax, or utility tax, alongside several other taxation methods not listed.
According to data from the U.S. Treasury Department, during fiscal year 2021, which spans from October 1, 2020, to September 30, 2021, the federal government collected approximately $3.5 trillion in tax revenue. During fiscal year 2024, which is ongoing until September 30, 2024, the federal government has already collected $1.86 trillion in revenue—which is dwarfed by the $2.68 trillion it spent in the same fiscal year.
Of course, U.S. citizens are seeing a far greater return on investment than the American colonists— aren’t they?
That depends.
In colonial America, local communities often had some form of law enforcement, some even established institutions to care for the sick, and they enjoyed the protection of the British Army and Navy from invasion, which at the time, was a global empire. This was all accomplished on a much smaller budget than the U.S. currently boasts.
But of course, colonists had little to no representation in the British Parliament and often resorted to large protests to make their concerns known — such as when they protested the passing of the Stamp Act, leading to the law’s eventual repeal in 1766, just under a year after it was established. Though few would argue that America is worse off now than it was then—one could easily say that colonists were much more protective over their wallets than modern Americans seem to be.
Protests organized by colonists over the Stamp Act had humble beginnings. First came the petitions, but when didn’t get the message across, forms of demonstration ramped up to civil disobedience and an outright refusal to pay the tax. Eventually, colonists resorted to property damage and harassment of officials—needless to say, the colonists would not tolerate what was perceived to be an infringement on their liberty.
In 2019, 99.1 million people (30% of Americans) participated in several social safety net programs, according to the Department of Health and Human Services. Although just 30% of Americans benefited from these programs, 100% of taxpayers funded their implementation. Additionally, every community has law enforcement, but not every community has a district attorney’s office willing to punish crime or detain criminals arrested by law enforcement.
What’s more, U.S. taxpayers currently fund the federal government’s foreign aid expenditures. In 2023, for example, the United States spent approximately $61 billion on foreign aid.
The surging inflation rate, national debt, and the federal government’s wasteful spending habits are causing Americans to reasonably question the stability of their country’s economic future.
