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alstry (< 20)

Get Ready To Pay MORE TAXES.....



May 30, 2013 – Comments (3)


As you know, since QE1 I have been sounding off on the growing Federal Debt......but like homeowners in the housing bubble, some of you saw your investments rise so most of you really didn't care despite the destruction to the real economy, your kids future and millions of your fellow citizens.

Since then our debt, Federal Debt, has grown from $6 Trillion to now approaching $17 trillion in about five years. THIS IS MONEY WE AND OUR KIDS OWE......

In order to accomplish this, interest rates dropped to multi-hundred year lows.


Every 1% rise in interest rates costs we taxpayers about $170 Billion dollars. If interest rates rise just 3% to still historically low levels, just NEW interest obligations will consume half of current income tax receipts and there won't be much money to fund anything else, including our schools.

As a matter of fact, MOST OF YOUR INCOME TAXES will have to double simply to cover the rising interest obligation.

And what if you don't pay more taxes?......well your investments, jobs and businesses (which is now essentially all of them) that are now dependent on Federal Debt and Federal Spending will fail.

Have you kissed your banker today? Because if interest rates rise just a little....your attitudes about the last few years will quickly change.....just like many homeowners a few years ago that got screwed by bankers infecting our system with too much debt.

3 Comments – Post Your Own

#1) On May 31, 2013 at 1:02 AM, awallejr (35.47) wrote:

Well what about people who don't have kids?  Should they sacrifice?

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#2) On May 31, 2013 at 1:10 AM, awallejr (35.47) wrote:

And to take it further. That SNAKE  Blankfein of GS deserves the raise he got?  He fired 900 people and took a 7.7% raise to 26 MILLION dollars.  Yes lets screw that working Joe Shmo so these CEOs get raises while they fire underlings.

God the middle class are suckers.

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#3) On May 31, 2013 at 1:48 AM, NOTvuffett (< 20) wrote:

Q: when do you know when there is excessive debt?

A: when you have to use friggin' scientific notation to make a calculation of debt per capita.

 I am dealing with an injury at the moment, so i have been watching some old tv.  It is truly amazing how much our peception of the value of a dollar has changed.  Coincidentally, this is the 100 year anniversary of the inception of the Fed.  Again, you need to understand logarithms to understand how much of your purchasing power has been lost (and how fast).  Isn't that curious since one of the initial charges to the Fed was to safeguard the purchasing power of the dollar?

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