Economic Depression
Hits Your Home Town!
Updated: Oct, 5, 2008
Today folks are putting a much larger portion
of their paychecks into their gas tanks. Sure the price of gas has
come down a little recently, but it's still relatively expensive and
the price of other staples such as food, heating and insurance are
also soaring.
So people are driving 12% less than they used
to do which is slashing gasoline sales. This has lead to a drop in
the gasoline tax the states rely upon to fund the maintenance
of our highways.
Then, because there's less paycheck left to
purchase other items, retail sales are off which means a reduction
in retail sales tax income to the states.
In the real estate market more and more houses
are being abandoned when owners can't make the payments which causes
a drop in real estate taxes the state collects.
1. Gasoline tax income down 12%
2. Retail sales taxes down 20%
3. Real estate taxes down 22%
All this adds up to a whopping decline in
city, county and state income. California is feeling the heat - it's
begging the federal government for a $7 billion dollar bailout. New
York, Nevada and Florida are all headed in the same direction.
Bottom Line: By the Autumn of 2009 you
can expect to see massive layoffs of city, county and state
employees followed by the abandonment of their previously cushy
retirement systems.
But wait - there's more.
The IRS now allows retirees with little income
above social security to not bother filing federal income taxes.
That's fine for the federal government who only wants to avoid
unnecessary paper work.
But the cities, counties and states depend on
their income taxes to support state budgets.
If one or two percent of the people living in
your local area are retired, it's really no problem. The rest of the
wage earners will keep the local government going.
But if the percentage of retirees swells to
over 5% of the population, local budgets begin to collapse. Funding
for police, fire, ambulance, road repair and other critical services
evaporates.
Surveys conducted in some of our nation's
largest city suburbs have discovered that over the next decade a
quarter to a half of the local population will be retiring!
Clearly we need an entirely new way of funding
our local governments! The old ways no longer work.
One thing is for sure - the standard of living
of the average American is about to take a tumble. Survive and thrive during the coming bad
times. Get the facts -
there's no other book like it. Order today!
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