"The Official Portrait of Miss InDiana"

"The Official Portrait of Miss InDiana"
aka "Miss Victory"

Monday, June 2, 2008

Comprehensive Annual Financial Report: The report your government does not talk about

Dr. Bill Styring, a world class economist and Indiana policy insider, was given a copy of Indiana's Comprehensive Annual Financial Report by a tax activist to analyze. Styring's conclusion was that he could not make sense of the report due to changes in the format with an appearance that it was done purposely to make the report difficult to understand...even for a world class economist.

Yet the CAFR (Comprehensive Annual Financial Report) is the lone document that tells the true wealth of your government, not what the budget and budget deficit/surplus is. Budgets and their surplus/deficits are all you hear from the mainstream news media. You don't hear a peep from mainstream media about the CAFR and our government's true income derived from a very long list of tax revenue sources*.

The CAFR1.com site has been in existence for a decade. In 1998, the site had only about 14 hits. Now they report about 16 million hits, yet not a peep is uttered about the Comprehensive Annual Financial Report by mainstream media.

Why is that?

The answer is that your government does not want you to know how much money they squirrel away off budget. They want you to think that they need to raise your taxes to pay for government "services".

We recommend you learn more about the Comprehensive Annual Financial Report. Better yet, ask your government for a copy. Odds are they will either act like they don't know about its existence or refuse to give you a copy.

We also requested a copy of the federal CAFR from Congressman Carson's office today and recorded the telephone call to one of his very helpful young interns. Congressman Carson's intern, a law school student from North Carolina, had no idea what the CAFR was until she was called today.

*Partial List of government tax and revenue sources:
Sales tax
Property tax
Capital gains tax
Income tax
Exise tax
Gas tax
Gambling tax
Hotel tax
Estate tax
Cigarette tax
Alcohol tax
Building Permit Tax
Corporate Income Tax
Court Fees and Fines (indirect revenue)
Federal Unemployment Tax
Fishing License Tax
Food License Tax
Hunting License Tax
Inheritance Tax
IRS Interest charges (tax on top of tax)
IRS penalties (tax on top of tax)
Local income tax
State income tax
Marriage license tax
Medicare tax
Parking meter fees
Real estate tax
Septic permit tax
Service charge taxes
Bartender license fees
Cosmetology license fees
Business license fees
Social security
Road use tax (truckers)
Recreational vehicle tax
Telephone federal exise tax
Telephone minimum usage surcharge tax
Traffic fines
Trailer registration tax
Workers compensation tax

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