Expect higher taxes in the coming years
Both at the federal, state and local levels. We have too many government handout programs and many politicians want to create more massively expensive handout programs. But when they do raise taxes, the economy will contract, so it is very possible federal revenues will drop rather than rise.
As I have always said, it is the spending, stupid.
Read the article at the link.KEY POINTS
- Dalio says that the national debt, pension liabilities and health-care liabilities will ultimately have to result in higher taxes.
- The debt and social program “will either be paid by higher taxes or they’ll be not paid and defaulted on,” he said. “I don’t think they will be defaulted on.”
- The warnings about potential debt hazards come as the total fe