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Object id #127 said in September 3rd, 2010 at 2:16 am

Inflation moved from 2.97% in January to 3.01% in February. This is a result in a weakened currency and will continue to increase as long as we keep injecting more non-backed currency into the economy. This by it’s own merit will raise taxes to compensate for weakened purchasing power. To further complicate the problem of inflation are the new higher taxes being implemented with the health care law. Many large manufacturers and service providers are now to deciding what percentage of increase in revenue will be passed on to the consumer, how many layoffs will be needed and how many will be placed on limited hours. This will mean fewer taxpayers to shoulder the burden of governments cost at a time it is increasing in size. Also the added burden may sound the death nell for many small businesses who have had a struggle surviving in the current economy. Small business is responsible for 50% to 55% of our jobs. If they fail en mass, we will have a serious problem with increased unemployment. Just what the final outcome for this new entitlement will mean in taxes is still unknown, but look for a sizable increase.

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