Friday, March 06, 2009

How Long... 5-10 Years, 20?


Boy... I really hate to be gloom and doom.
I really do. So I apologize for this in advance.
Not to say that I don't usually enjoy pointing out the differences between conservatives and liberals and voicing my political opinions in a rather harsh and blunt sarcastic smart-ass style... 'cause I do.
But this is different.

I have a grandson... actually two, but the oldest is 9.
I was thinking that in 20 years he will be reaching his stride and I was wondering what he will do and be... he's a sharp kid.

Then it occurred to me that he and his generation are going to be saddled with taxes in the 50%+ area to pay for the spending my generation is currently laying on them.
How will he afford a nice home, nice cars, the latest electronic equipment, kids, dogs maybe a place in the mountains twenty years from now if he only gets to keep 35-40% of his money?
Today, if you make $40k and bring home around $25k it's tough.
Imagine if you only could keep $18,000.00/yr. out of that $40k.
Or 20 years from now only getting $35k or less of your $100k paycheck..

Now, throw in rampant inflation which is just around the corner according to many analysts and you have higher taxes, higher costs of goods and less money to do it with.

The programs that the current administration are putting into place need massive funding beyond their initial start-up funds and then they become entitlements funded by ever increasing costs and ever increasing taxes to pay for them. Obama has spent more in his first month as President than in the entire history of our country combined... and we haven't even gotten to government run free healthcare for everyone... and the exodus of doctors that will ensue and then add in the cost of the upcoming amnesty for another 40 million illegals free healthcare, free college education, free housing, free daycare, free transportation...

Who will pay? Tax the rich (businesses) and they pass it on to the consumers as they must.

When will the revolution begin I wonder?

How far will the country go to the left into socialism before a new generation realizes what they have been sold and what THEY are suddenly paying for... OUR mistake.

Hopefully... capitalism will survive and ultimately prevail bringing our economy back, for only through the success of private enterprise can our country survive.
As we know, government has no way of 'making money' other than printing it and then paying for it by taking more of it our of YOUR (and my) paycheck (payroll taxes) and then again taking more virtually every time you spend any of the money you have left from the first tax (sales tax, property tax, gasoline tax, etc tax).

But one thing is for sure... taking 50-60%+ of what people earn to run a rich fat-cat government that doesn't represent the very people who are paying for it has awakened this country before .
Time will tell.

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2 Comments:

Blogger Dave said...

Well said.

1:18 PM  
Blogger Red S Tater said...

Of course all this assumes we will not suffer from more 9-11 scale attacks due to Obama's stripping away of the very things that have kept us safe for the past 7 years .. but according to Newsweek, we all just need to "live with it".

Wow... I sound depressing.

Did you ever see that SNL skit Debbie Downer?

2:21 PM  

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