Musings regarding higher taxes

[leegs]

In another thread I asked the following:

Do people here (iTulip) really think federal taxes are going to go up a lot, at least for the lower and middle brackets? I have my doubts, I don't think the politicians have the stomach for it. I see it as more likely that SS and medicare will increase notably, and really expect to state taxes to see the biggest increases.

Further to the above, I expect to see big increases in various fees, e.g. DMV, business licenses, etc.

What do y'all think?

[World Traveler]

Re: Musings regarding higher taxes

Politians have learned that Americans will revolt and throw them out of office if they overtly raise taxes, so that will only be a last, desperate resort.

Much more likely - FEES for lots of stuff that used to be consiered part of "the commons". Continued STEALTH tax increases, for example by more stringent limitation on what is tax deductable. Higher FINES, for example for traffic tickets.

DIVIDE and CONQUOR to get higher taxes - Federal Government decreases direct monies on various appropriations to the 50 states, for example Medicaid, health care for children, education, etc. So the 50 states are forced to raise local and state taxes. So there have to be local tax revolts to be effective, and that is much easier for politicians to deal with and control than a large national anti-income tax movement.

etc., etc.

[zoog]

Re: Musings regarding higher taxes

In another thread I asked the following:

Do people here (iTulip) really think federal taxes are going to go up a lot, at least for the lower and middle brackets? I have my doubts, I don't think the politicians have the stomach for it. I see it as more likely that SS and medicare will increase notably, and really expect to state taxes to see the biggest increases.

Further to the above, I expect to see big increases in various fees, e.g. DMV, business licenses, etc.

What do y'all think?

When you say you expect SS (Social Security) to increase, do you mean the payouts, or the amount of our paychecks taken out to put into the social security fund? In my simple view of the world, the latter = higher taxes, even if income tax rates don't rise.

As a middle class gen-x, I expect my taxes to go up if for no other reason than to pay for the rest of baby boomers retirement after social security goes bust. Thanks to the miracles of modern medicine, even at age 90 there will still be more baby boomers than my generation, so they will easily have the voting power to tax my apathetic generation as much as necessary.:rolleyes: