June 25, 2010 – The Only Certainty in Life: Taxes are Rising

Featured Trades: (TAXES INCREASES)

1) The Only Certainty in Life: Taxes are Rising. If you are looking for irrefutable proof that we're all screwed, take a look at the chart below from my friends at Clusterstock. It shows that $2,000 in tax increases will be needed per household to cover increased government social service spending by 2015. This figure then soars to a mind blowing $12,636 by 2050, by which time I will hopefully be dead. We are now paying the piper for 30 years of tax cuts and spending increases at the state, federal, and municipal levels, and there is absolutely no way to avoid this. The unwind could take 30 years. Personally, I am an optimist, thinking it will only take 20 years. I will probably be dead by then too.  I have given up any hope of ever collecting social security, even though I qualify in a few years. You can't blame any one political party for this sorry state of affairs. It has been a tag team effort to get the accumulated federal budget deficit up to $13,119,120,115,616  as of 3:00 PM EST today, although Republicans have historically been the big spenders with their defense appropriations. Remember Ronald Reagan's star wars and the 600 ship navy? Star wars never worked, and the ships are now mostly rusting in mothballs. Yes, I know we had to outspend the Ruskies into oblivion to win the cold war. But we did it all on an American Express card, and have been rolling over the balance ever since. If we don't surrender our credit cards now, the bond markets will eventually take them away and cut them in half in front of our disappointed faces. I believe that the winner of elections from now on is basically irrelevant, as our problems have grown to the point of insolvability. Cut taxes? The deficit soars. Cut spending? We go back into a depression. Do nothing? The deficit soars and we go back into a depression. My solution? Make as much money for myself with the ideas you find in these pages, and let the world sort itself out. The great certainty in this life is that your taxes are going up, no matter who is in charge. There! I've had my rant. Have a nice day.