What three things have been unsustainably low and are bound togo up?
The answer: taxes, interest rates and inflation willincrease--it’s just a matter of how soon.
Let’s take taxes first. One of the big reasons we have suchlarge federal budget deficits is because of the Bush tax cuts—allthose economic gains from reducing federal taxes somehow just didnot pan out. Wealthy Americans did get richer by design, but mostfolks have been treading water or worse as jobs migrate overseasand wage rates for many workers decline. Government budgetsurpluses turned into red ink years before the recent andunfortunately necessary emergency bailout medicine escalated thedebt totals.
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