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by toomuchtodo
3114 days ago
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Taxes are at historically low rates, and current governments have continually borrowed from the future to fund wars and tax cuts (outstanding US government obligations are in the trillions of dollars [1]). Of course taxes are going to go up. Plan accordingly. If you've put millions of dollars in a pre-tax retirement account, you're a fool if you think it's coming out at anything near current tax rates. You're banking on a political climate that cannot exist existing. That's your fault. And before blaming your average citizen, look how little anyone cares about what citizens want regarding net neutrality, a tax bill that is going to gut entitlements to support tax cuts for the top 1%, and so on. [1] https://treasurydirect.gov/NP/debt/current (~20 trillion dollars in US gov outstanding debt obligations) |
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They already did. The GOP tax bill specifically targeted our demographic as a way to finance tax cuts for the wealthy and businesses. The GOP doesn't even deny it.
Like it or not, we are the scapegoats for all the problems afflicting the poor. And it's not a stretch to believe the GOP is going to use popular support to extract every dime from us until we are homeless too.