Wednesday, August 12, 2009

A Taxing Situation

One Harvard Economist calls it the way I have been seeing it since day one of the stimulus package. Kenneth Rogoff sees taxes going up soon. He even predicts a national sales tax in the next three years.

"People just don't understand how much taxes are going to have to go up on the current trajectory we're on," he said. "People are still on the high that the government can back everything and not seeing what the costs are." - Rogoff.

A friend of mine opined that if we new how much of our money actually goes to the government in the form of taxes (income tax, property tax, gas tax, sales tax, sin tax, inheritance tax, etc.) we would probably find that we are already being taxed at a rate as high as most socialist countries. I am sure there has been a study done. Maybe someone can post a comment with the details of our actual tax load.

I guess most everyone has heard about the roller coaster that failed at a theme park in California Monday. We won't be so lucky. When this roller coaster ride we are all on fails, it's flying off the tracks baby. We have gotten too far out of control.

No comments:

Post a Comment


Free Hit Counter

Copyright © 2009 - 2012 The Audacity of Logic