Can you speak more to your comment about "higher taxes and fees"? It wasn't clear to me how the link explained it (what I got from it were the inflation adjustments to tax brackets).
This year's IRS increase in the brackets was 5.4% year-over-year while the CPI says inflation is 3.7% year-over-year using the latest headline CPI data. The Feds are inflating the brackets without changing the rates. It is games like this and increased fees that happen first. Attempts to increase rates will be next. I expect every tooth to be pulled before entitlement reforms or cuts are put on the table. Cutting defense spending has to fit into this picture too. It'll be a wild ride, that is for sure.
Can you speak more to your comment about "higher taxes and fees"? It wasn't clear to me how the link explained it (what I got from it were the inflation adjustments to tax brackets).
This year's IRS increase in the brackets was 5.4% year-over-year while the CPI says inflation is 3.7% year-over-year using the latest headline CPI data. The Feds are inflating the brackets without changing the rates. It is games like this and increased fees that happen first. Attempts to increase rates will be next. I expect every tooth to be pulled before entitlement reforms or cuts are put on the table. Cutting defense spending has to fit into this picture too. It'll be a wild ride, that is for sure.