But we do know that it's almost impossible for democracies to withdraw benefits once they have been offered to the public.
That's a fact. And that's what's going to cause a rapacious desire (which will be characterized as a "need") for ever-increasing tax revenues, even in the face of a shrinking tax base. Taxes on earnings won't be enough. Taxes on spending won't be enough. Taxes on wealth transfers (such as death taxes) won't be enough. We'll soon see more taxes on having: more and bigger property taxes, not only at the state and local levels, but at the federal level -- on your home, on your possessions, on your investment portfolio.
Articles like this seem a little less nutty each year. I'm not at the point of having a pre-arranged quick exit plan from the country in place, but I'm right there with the author in some areas. I firmly believe some gold or other precious metals belong in every portfolio. For me, so far, that's been limited to gold mining shares and gold ETFs, but I'm considering physical gold, too.
And, I'm getting the hell out of town. I'm building 20+ miles from the nearest city -- Charlotte, in my case (click on my name for a construction pic). I'm moving out into the sticks mostly because I prefer hawks, herons and deer to the asphalt jungle, but I can't say it hasn't crossed my mind that I'll be better off there if the §‡∞£ hits the fan.
I think there's at least a 10% chance of a major social upheaval within the next decade -- maybe an economic collapse; urban riots; a major earthquake or other natural disaster; a major, even nuclear, war in the Mideast; a major crop failure; or some combination thereof, possibly rising to the level of interruption of basic services and utilities. I want to be prepared to the extent possible; if that puts me in the kook category, so be it.
I'll have a well and septic field instead of municipal water and sewer; propane delivered by truck rather than by a gas utility; a propane-fired emergency generator in case of an interruption in electric services, so I'll be able to keep my well pumping, my house heated, and my beer cold. Ultimately, I'll be dependent only on my propane supplier, and I plan to keep him on my good side with generous Christmas tips. I'll have a reasonable supply of non-perishable foods, plenty of wine and liquor, a big dog, and maybe a gun or two (I ain't tellin').
I'm hoping for the best, but I'm preparing for the worst.
I see yr new house....nice!
You should reconsider keeping the corner half wall on the roof deck above your garage, SNC. Not sure why, maybe it balances the whole thing out, gives it some raised structure to counterbalance the mass of the house. Some place to park a gas grill or other things that might look unsightly from the ground, coming in on the drive, might be practical as well. I suspect that’s what your architect was thinking when it was placed there.
Just paid my local county Unsecured Property Tax for the year. Businesses are taxed for the physical assets they possess within a county. If I am one day late on the payment, the late fee would add 40 % to the bill. We will probably see that applied to individuals. You will be taxed annually for all the stuff you possess.