I remember High School History class, the famous call, by Paul Revere, “the British are coming, the British are coming!” Well now with the United States $15 Trillion in debt, the new call of 2012 will be “The Government is coming, the Government is coming”. It will be coming in the way of taxes!
Paul Farrell, of Marketwatch lists nine reasons taxes are going up Here they are..
1) Americans have not yet felt the impact of the wars in Afghanistan and Iraq. That tab is already over $3 Trillion.
2) America’s New Wall Street Welfare Program- With Wall Street bailouts and the foreclosures in the housing market, we are set up for another crash in 2012
3) The Fed’s nationalizing of America’s financial industry-
Bear Sterns is a symptom of a systemic disease. As BusinessWeek put it: “Financiers preached the free-market gospel and pocketed unheard-of sums of money, yet when times got tough they called for a government bailout.”
The Fed’s dealing with America like a third-world banana republic, effectively nationalizing our financial industry! Wall Street’s speculators have over $200 billion in junk write-offs. But like the government accounting tricks hiding war costs, Wall Street has also been inflating junk asset values and ginning up profits. And now the Fed’s even helping them mask losses to prevent panic. Eventually this PR stunt will cut Wall Street’s future earnings and increase taxes.
4) Huge resistance to cutting entitlement programs-
Medicare and Social Security benefits need to be revamped. When these programs were started most people if they got to collect the benefits at all were collected for less than 5 years, now people collect them for 25- 30 years. Lobbyists will continue to fight these changes.
America is run by 42,000 it is Washington, DC’s biggest business
6) Personal savings- only 30% of Americans have enough money to retire
7) Credit card and consumer debt- Consumer debt is $2.5 trillion- Personal Bankruptcies are on the rise.
8) Weak US Dollar
9) Recession Reality replacing arrogant optimism
Now, I have your retirement Solution.. Don’t play the Wall Street game, and do not give your money to Uncle Sam. I can show you how to not only retire with Tax Free income, but we can design it so you can get the Market ups, but not the downs. Stop doing things TAX-DEFERRED, since taxes will go up, you will more than likely be in a higher tax bracket when you retire. The products are also designed to which you can be your own bank and instead of borrowing from the bank, you can borrow from yourself.
Thanks for Reading!
Eric Wilson is President of I Sell Health, Inc. A full service insurance agency in the Chicago Area. He is also Owner of Unbelievable Balance, Tax free financial, also in the Chicago area. He can be reached at 888-448-5370 or online at www.isellhealth.com or www.unbelievablebalance.com.