he has almost single handedly put this nation into bankruptcy... yes it started way back even before Clinton... and each President could have stopped it, including the one now who ran as our lord and savior... but alas he chose not too, so here we are, in just a year and half, he has increased our nations debt to the breaking point adding almost 3 trillion dollars to it... heard an economist say couple of weeks ago, that each trillion cost this nation a Billion in interest each month...
and the great health care that does nothing but reward his cronies... well, OSU announced a huge increase in our health insurance for this coming year... due to the new health care and obubba.
My banker says interest will increase as the recovery kicks in due to inflation and that it will probably peak between 25 and 35%, so love your cards and notes now, for in the distant future, you will wish you did not have them... Ann and I built our home when interest was 13% for a home loan.. the cheapest around in 1982 and within a few years, it went to 28% before heading down.... I can tell you what happens to ones budget when interest takes 1/4 of each dollar...
A CPA friend of mine says Taxes on average Americans with average income will raise about 10 to 15% more and if all taxes are thrown in, probably will be closer to 25% increase in all taxes. (He voted for Obubba, but thinks now perhaps he made a mistake, with a tear in his eye.)
If you take all taxes paid by a self employed person and add them up and they are in the upper middle class rate... with SS added in, etc and the joy of owning personal property (taxes) and sales taxes.. one right now today is paying about 58 cents on the dollar to fund government. This leaves 42 cents (for Heather!) for the small business person to operate on. I am not sure this is what our founders anticipated?! and just imagine if our taxes and insurance increase 25%... about 15 cents ... then we are are 73 cents of every dollar... leaving 27 cents for us to survive on. 73 government and 27 for us... by 2012.
Right now we have an artist management company among several... and we hold out 38 cents of every dollar ... leaving them 62 cents.. and they bleed.. but in the end.. it's not enough to hardly pay their federal taxes.. but it sure wakes them up to the joys of ownership and of paying taxes.. haha...
Wonder what will be left for our grandchildren when they enter the workplace... Hopefully, with each election after this we will put in new folks with new ideas who want to work and then every term or two, replace them with new blood and ideas and keep this country moving forward, breaking the graft and corruption that is embedded in it from politics as usual...
