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alstry (36.00)

9.09....Death By Taxes

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September 19, 2009 – Comments (12)

Soon many Fools will learn...in order for America to function close to where we are now...we will very soon have to be taxed 100% of our income and assets...it is not the end of the world....simply the math.

As pensions evaporate....the more and more will be fired as there is less and less to pay.

SAN DIEGO — The city of San Diego will have to make a full pension payment next year — estimated at $225 million — after pension officials voted against a plan that could have eased the city's financial burden.

The pension board voted 10-2 Friday to not make any changes to its retirement calculations.

The move was applauded by those in city government who did not want to repeat past mistakes in failing to save for promised pension payments.

The changes being considered would have lowered next year's payment by $31.6 million and saved the city nearly $100 million over five years. Those short-term savings would have been offset by much higher payments in later years.

A spokesman for Mayor Jerry Sanders said the $31.6 million represents about 300 to 400 city jobs that may have to be cut to balance the budget.

http://www3.signonsandiego.com/stories/2009/sep/18/city-san-diego-will-have/

As more and more get fired.....unemployment insurance will simply get too high for many employers to sustain many employees.

Dramatically higher unemployment insurance taxes set to go into effect in April could mean employers will have less money to hire new workers or give out raises, according to several business leaders.

The state said this week it will raise the tax employers pay from an average of $90 per employee per year to $1,040. The increase was triggered by a severe decline in the state's unemployment insurance trust fund, which pays out benefits to workers who have lost their jobs.

http://www.honoluluadvertiser.com/article/20090919/NEWS01/909190336/Hawaii+businesses+rocked+by+skyrocketing+unemployment+tax

1100% tax increase with only a 7.2% umemployment rate....total confiscation is not too far away?

As costs get too high to hire employees, cities run out of money.....soon most will get fired....even those who have been around for a long long long long long time.

NEW YORK, Sept 18 (Reuters) - Thelen LLP, a U.S. law firm that once had more than 600 lawyers, said it filed for Chapter 7 bankruptcy liquidation after Citigroup Inc (C.N), a large creditor, cut off needed funding.

The 85-year-old firm said Citigroup "is no longer willing to advance funds for the cost of collection and (to) wind down operations," or to fund the costs of a Chapter 11 proceeding, according to a filing on Thursday with the U.S. bankruptcy court in Manhattan."

http://www.reuters.com/article/bankruptcyNews/idUSN1825582420090918

As much gets shut down....most will get poorer and poorer and poorer.

The incomes of the young and middle-aged — especially men — have fallen off a cliff since 2000, leaving many age groups poorer than they were even in the 1970s, a USA TODAY analysis of new Census data found.

People 54 or younger are losing ground financially at an unprecedented rate in this recession, widening a gap between young and old that had been expanding for years.

http://www.usatoday.com/news/nation/census/2009-09-17-young-people_N.htm

Soon you will understand, no one escapes Zombulation.......NO ONE!!!!  When the Zombulator cuts off credit.....few will generate revenues enough to survive......as more and more shut down.....government will have fewer and fewer to tax....until they have to tax everything left.

We are now two years into the process of systematic Zombulation....where worse is better that expected.  Soon you will learn after a long enough time frame, it can't get any worse as it keeps getting worse......no matter what was expected.....unless we restructure.

Remember, when you have cancer and you are reading the ticker of the EKG...by the time it hits the ticker....its too late....unless we restructure.

 

12 Comments – Post Your Own

#1) On September 19, 2009 at 5:30 PM, oshiri (< 20) wrote:

And get this Al . . .

One of my wife's friends works for the IRS. We heard from this individual yesterday that everyone in their office had to take a 10% pay cut!

The Government is even making their own IRS people into zombies!

     Al says, "we will very soon have to be taxed 100% of our income and assets."

Yet another reason to take what ever profits you can now and get out. Convert it into something hard and metallic that the Feds can't see unless they knock on your door.

And to quote The Clash, "When they kick down your front door, how you gonna come, with your hands on your head or on the trigger of your gun." :^D 

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#2) On September 19, 2009 at 5:43 PM, alstry (36.00) wrote:

Oshi,

The math is not hard...when you have a credit based consumer economy...when you cut of the credit....you eventually kill the consumer....and when you have no consumer in America....you have practically no economy.

Right now....savings is paying 1%......debt is costing 5-35%.  Many are spending down their savings to live or pay down debt.  What few realize is that there is OVER 6X more debt than savings.

It is mathematically impossible to collectively pay back debt.......as incomes evaporate, credit is cut off, and savings shrink....the money will run out and there will be very little money left to fund anything.

As savings is spent down....banks will be forced to lend less.....and the economy will come to a grinding halt....welcome to Zombulation Nation in 9.09.....Alstrydomous knew it was mathematically certain unless we restructured.

 

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#3) On September 19, 2009 at 6:17 PM, dwot (39.30) wrote:

Yep, the numbers don't work and they don't lie.  Seems to me that math is one of the few things that tells the truth.

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#4) On September 19, 2009 at 6:18 PM, checklist34 (99.71) wrote:

this will end with you declaring that you were right and a cataclysmic event did happen in 9/09 won't it?

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#5) On September 19, 2009 at 7:06 PM, AvianFlu (25.10) wrote:

I love the government.
They only wish to make my life better.
They have my best interests at heart.
I can trust them to take care of all my worries.
I love their inspiring competence.
Our civil servants work hard and deserve every penny they get.
Our politicians would never think of deceiving or manipulating me.

I'll see you in the re-orientation camp.

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#6) On September 19, 2009 at 7:19 PM, gldnlvr64 (< 20) wrote:

Speaking of something "hard and metallic", what's the best way to invest in gold ? Physical gold ? ETF's ? Stocks ? Mining ?

-LVR

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#7) On September 19, 2009 at 7:43 PM, oshiri (< 20) wrote:

gl&d . . .

     My vote is for holding metal in yer hand. But not just gold, 'cause if you have to pay for something with a $2,000 gold piece, you may want to have a Canadian SILVER Maple Leaf to pay for your groceries.

     I have a feeling you may have a different take . . . what is it? 

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#8) On September 19, 2009 at 7:49 PM, alstry (36.00) wrote:

Check....

Alstrydomous is all about being the first to call MOAP.......Mother of All Projections.......soon you will learn that worse can't be better forever......at some point, worse becomes the worst.

When it happens...you will understand what the term Zombulation Nation means.....and Alstry was the first to call it.

 

How it plays out is anyone's guess...unless we restructure.

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#9) On September 20, 2009 at 3:35 AM, mliu01 (< 20) wrote:

Soon, govt can't afford to hire anyone to do the job for them. Everyone is for himself.

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#10) On September 20, 2009 at 3:36 AM, mliu01 (< 20) wrote:

Nobody will risk their life for nothing to collect shit for govt.

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#11) On September 21, 2009 at 12:49 PM, leohaas (31.08) wrote:

"Speaking of something "hard and metallic", what's the best way to invest in gold ? Physical gold ? ETF's ? Stocks ? Mining ?"

If you buy in to alstry's prediction, physical gold and silver is probably your only option. That and a bunker in a remote area, canned food, water, guns, and plenty of ammo.

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#12) On September 21, 2009 at 12:56 PM, prose976 (< 20) wrote:

Last I heard MOAP was an acronym for Mother Of All Ponzis.

Foon on!

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