Picture coming home with less than half your salary and you can picture your future. Even if the government cuts programs, there is no getting around the fact that taxes must be raised.
In many cases, they will not be called taxes. They will be called fees, value added costs and other meaningless terms. A tax by any other name is a tax.
Businesses will be hit with taxes, fees, permits and the like. This will be a double hit on each of us. Businesses will raise prices to pass on the cost of these taxes. Businesses will close and more of us will be out of work. With higher unemployment, more taxes will be needed to cover medical care and unemployment insurance.
There will also be ‘product’ taxes - that go beyond alcohol and tobacco. Products deemed unhealthy will be taxed. Sugar and fat tax? Why not? What about a red-meat fee? Will candy get a double tax- one for sugar and one for chocolate?
Maybe the government will remove tax exempt status from places of worship. Everything will be up for grabs if it involves the working middle class and the rich. Congress will continue to exempt itself from these laws and the only safe businesses will be those involved in politically correct issues.
Even a gravity use fee would not be surprising. Oops. I should never have written that one. They have not thought of it yet.
Read this news report and tell me I am wrong. http://news.yahoo.com/s/ap/20090826/ap_on_go_pr_wh/us_obama_economy
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