A Muncie Indiana man, fed up with ever increasing taxes in Indiana, paid his $12,656 semiannual tax bill for home, rental properties, and business, with $1 bills and coins. 3 cashiers had to work 75 minutes of overtime to count the money, and sheriff's deputies were posted as guards.
The county complained that this caused them to miss their daily bank deposit, costing the county $1135.90 in interest. Did they have a $4 million dollar daily deposit? That's what the deposit would have to be to earn that much interest in a day at 10% interest. Given that the interest rate is probably much lower, that may mean they are claiming a daily deposit of $8 million to $12 million! Could that one county be collecting $2.5 billion a year in taxes? Note this is just a local property tax and business tax, not income taxes, not federal taxes, not social security taxes, not gasoline taxes, not vehicle registration taxes, not sales taxes, not any of a multitude of other taxes levied on us every day. Multiply by approximately 5000 counties to get an idea of the total bite of just property taxes alone.
