Seems like every day I read again about a future budget over-run for the fed, for the states, even in my town saying they blew the plowing budget for the year after the first storm.
Today Yahoo has an article about how most states are not setting nearly enough to fund employee retirement promises. We are going into deep over-runs due to our wars - on Iraq, on Afganistan, on Drugs, on Poverty, etc.
I am not saying we should stop funding, but every year, every day, we add a little more debt, raise taxes a little more.
At what point will we hit an economic limit to make this not viable.
I am not saying get rid of taxes like the "nut of the day". I am asking what is our financial limit, because we seem to working towards it?
Another way to put it - if we are taxed at a net rate of about 50% now (argue that if you want, it is not my point) and people say times are "tough", what happens when we need to raise it to 55% or 60% or 70% to cover all this stuff?
2007-12-17
23:50:24
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3 answers
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asked by
yakrafter
2
in
United States