Skip to comments.With inflation, the vast majority of Americans will be at 200k income level pretty quickly.
Posted on 12/03/2012 8:23:07 PM PST by MeneMeneTekelUpharsin
All of this talk about taxing people who make 200k or 250k or more. What a joke. With the excessive printing of money, almost everyone in this country who has a job will make 200,000 thousand dollars or more.
And, milk will be $12 a gallon, etc., ad nauseum. However, everyone will still fall under taxation rules when that happens. You're making more money, but everything rises in price to meet your income and now you're paying more in taxes. How can people be so foolish to vote these insane policies into effect?
What about rental property? The next step (and, yes, they've already thought of it) is to say to the poor, supposedly disenfranchised masses, "Hey, that rich man over there with all of that rental property doesn't need that! He only needs the house he is living in. Why does he need all of those houses if he's not going to live in them?"
Or, they will put exorbitant taxes on rental property. Wait until landlords figure all of this out and watch how much rental property gets dumped on the market all at the same time deflating rental and housing property in general. This is all just the beginning of the madman's circus.
he’s told us he wants to raise gas to $10 a gallon (and people still voted for him)
he doubled gas price in his first term, so second term he should hit around $8 anyway
and higher energy prices force up the prices of every single thing we as consumers want, or need to, purchase
including food especially
It’s basically the AMT law, eventually scooping in everyone.
The entire nation will become a slum.....
Ah, SNL 1970s skit “Inflation is Your Friend”.
This is how the Alternative Minimum Tax became such a problem. No one is talking about the AMT which may strike singles making $50K.
You think they would index these tax rate levels, to I don’t know; the price of bacon, gasoline, college tuition, movie tickets etc.
Take bacon for example: the package of pre-cooked I buy at Costco in 2007 for $8 is now $13. That’s 62% higher. My income has not gone up 62%. Few peoples’ have. We’re supposed to accept that because the Bush tax cut is in place, we have it good.
I’m wondering what level the Alt min tax will be w/o the annual “fix”.
Even a homeless man will be a millionaire!
What’s not to like?
“Forward!”, as the President says.
It's good to recall that one of the early "steps" in the Marxification of Cuba was the overnight halving of all rents. Of course that devastated all landlords and their property.
Still a lot of work to do to reach Zimbabwean level of wealth with a car washer earning $100000000000000 (Zimbabwean dollars) per hour but here’s a right direction (Forward!) /s.
I detest obama voters and avoid them whenever possible. They are anti-Christian, anti-American, greedy scum
Three dollars an hour was a very good wage. A friend in high school graduation class frequently said that if he could get a guaranteed $140/week factory job he'd be happy until he was old enough to retire.
There was never a period when like the Weimar Republic we were given breaks at work to go buy stuff as the prices increased throughout the day.
Our wages pretty much kept up with the inflation.. until "the new normal" a few years ago. (It seems to me.)
And when there were recessions we actually recovered within a few months and grew even larger than before! Those were the days!
The inflation is not only anticipated...it is planned.
I thought the gas price increases were a way to make “green” energy more palatable.
The silver lining is this: when a nation has a worthless currency, monetary interventions are useless and the government loses power over the economic system. Responsible state governments could fill the void by promoting sound currency. Let’s face it, the federal government is the enemy of the people. Invest in lead and gold.
so the union/govt thugs will get regular raises while the industries that have been sacrificed will have its employees losing buying power daily....all in the plan....