As the USD flirts with Zimbabwe status, bear in mind:
- The USG 'harvests' roughly $5 trillion per year.
- About half that ($2.5 trillion) is from personal income tax.
- The current interest cost on the national debt is $1 trillion and rising...consumg +40% of personal tax revenue.
- The interest cost on the national debt is growing faster than tax revenues.
= In less than 10 years 100% of personal tax revenue will be consumed by interest payments on the national debt.
[?] What do you think will happen to personal income tax rates happy tax-serfs.
Of course this is before 10% for the Big Guy.
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