By Bill O'Reilly

A new report from the Census Bureau says 15 percent of American families now live below the poverty line. That is they bring in less than $22,300 a year. But that stat is misleading because most Americans are in debt.

According to the American Debt Advisor organization, 80 percent of us owe money to creditors. And while the median income is about $50,000 in the USA, the amount of money we owe can't be covered by our salaries, especially because of the tax situation.

The Obama administration says it will continue the payroll tax cut for working Americans, while it wants to increase the income tax rate on the affluent and corporations. But all Americans are being battered by a variety of hidden taxes.

Here's the grim news. In New York state, where I live, not only do we pay a federal income tax but also a state income tax, and in places like New York city, a local income tax as well.

New York gasoline tax is 45 cents a gallon, the highest in the nation.

The cigarette tax: $2.75 a pack.

Sales tax collections average about $1,700 per New Yorker. Seventeen hundred bucks for every man, woman and child living in the state.

The property tax is close to $2,000 per person.

Toll revenue: $86 a person.

A new drivers license will cost you $80 bucks.

Cell phone taxes and fees: 23 percent of your bill every month.

The list goes on and on and on. So you can see if you are a working person in New York or California or New Jersey or Massachusetts or most other states, your take-home pay is being gutted by the rampant taxation. That is what's strangling the U.S. economy. Consumers can't buy stuff without incurring more debt. Punishing taxation is bleeding us.

And these taxes continue to go up because the states and cities are bankrupt. Why are they bankrupt? Because of pensions, health care costs, corruption and general irresponsibility with our tax dollars. The politicians have built a society dependent on government, and now our freedom is being eroded because of that.

I saw a sticker on a van that said: Taxation means civilization. Progressive values are American values. That philosophy, embraced by the Obama administration and the Democratic Party, is what America's economy is dealing with right now.

My bumper sticker would read this way: Rampant taxation erodes freedom. It makes you dependent on things you can't control, like banks, like politicians, like entitlement programs.

True freedom is being able to depend on yourself to support your family without being punished by an insatiable system demanding more and more and more take-home pay from the American worker. No spin.

And that's "The Memo."

Pinheads & Patriots

Charlie Sheen was roasted on Comedy Central.

(BEGIN VIDEO CLIP)

CHARLIE SHEEN, ACTOR: I was going to the worst place in the world: cable. Channel 745, I think. I don't even really know what channel Comedy Central is with HD and everything. They were going to give me a roast for this, and I've never even watched their (EXPLETIVE DELETED) channel.

MARTIN SHEEN, ACTOR: Charlie, get inside and wash your face. It's past your bedtime.

C. SHEEN: Dad!

M. SHEEN: Now!

UNIDENTIFIED FEMALE: I thought you said this was your house?

M. SHEEN: Girls, time to go

(END VIDEO CLIP)

A little takeoff on "Apocalypse Now." I'm not sure this whole Sheen deal is a laughing matter, but you can decide who the pinheads are in that forum. I don't think there are any patriots.

— You can catch Bill O'Reilly's "Talking Points Memo" and "Pinheads & Patriots" weeknights at 8 and 11 p.m. ET on the Fox News Channel and any time on foxnews.com/oreilly. Send your comments to: oreilly@foxnews.com.